| A | B |
|---|
| The creation and maintenance of satisfying exchange relationships | marketing |
| Using the needs of customers as the primary focus during planning, production, distribution, and promotion of a product or service. | marketing concept |
| The prospective customers a business wants to serve and the location of those customers. | market |
| Blending of the four marketing elements (product, distribution, price, and promotion) by the business | marketing mix |
| Anything offered to a market by the business to satisfy needs, including physical products, services, and ideas. | product |
| The locations and methods used to make the product available to customers. | distribution or place |
| The actual amount customers pay and the methods of increasing the value of the product to the customers | price |
| The methods and information communicated to customers to encourage purchases and increase their satisfaction. | promotion |
| Characteristic of not relying on others for the things needed in order to survive. | self-sufficient |
| Exchanging products or services with others by agreeing on their values without using money. | bartering |
| Concentrating on one or a few related activities so that they can be completed very well. | specialization of labor |
| Tool that established the use of currency as a recognized medium of exchange. | money system |
