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Marketing - Chapter 1 Terms

AB
bricks and mortarBusinesses that complete most of their business activities in traditional ways rather than on the web.
dot.comA company that does almost all of its business activities through the Internet.
e-commercethe exchange of goods, services, information, or other business through electronic means.
economic utilityThe amount of satisfaction a consumer receives from the consumption of a particular product or service.
exchangewhen two people or organizations are involved in a transaction.
law of demandThe relationship between price and purchase decisions.
law of supplyThe relationship between price and production decisions.
marketingdeveloping and maintaining satisfying exchange relationships between businesses and consumers


Business Teacher
Union Grove High School
Union Grove, WI

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