| A | B |
|---|
| Financing | acquiring the money for starting and running a business. |
| Pricing | establishing and communicating the values of products/services to potential consumers and determining profit for the business. |
| Communication/Interpersonal Skills | required within any industry. These skills are developed and reflected by how people interact with one another. In a business setting it must be effective and appropriate at all times. |
| Selling | involves determining and assisting consumers in satisfying their wants and needs through planned and personalized communication |
| Professional Development | is the ongoing growth within a chosen career path and your career path must be explored and studied while setting goals along the journey. |
| Wants | items that would be nice to have such as a sports car versus an economical car. |
| Distribution | the transporting, storing, and handling of goods and services for businesses. |
| Goods | tangible items purchased for the value they provide the consumer’s wants or needs. For example, games, TV’s, candy, or furniture. |
| Marketing Concept | a philosophy that drives the decision making process of a business. It focuses on satisfying the needs and wants of the consumer to achieve profits. |
| Product Management | the process of developing, improving, obtaining, and maintaining the products/services of the business to meet consumer demand. |
| Channel Management | oversees the movement of product/services from producer to consumer. |
| Promotion | informing, persuading, or reminding potential consumers about a business’s products/services such as with advertising. |
| Target Market | the group of consumers a business desires to have as customers such as stylish teenage girls. |
| Consumer | an individual that purchases a product/service for personal use. |
| Service | intangible acts performed for a value for the consumer’s wants or needs such as a hair cut or going to a movie. |
| Marketing | encompasses all the activities required to bring products/services from the manufacturer to the consumer while being guided by the consumer’s wants and needs. |
| Idea | is a cause, issue, image, or philosophy that can be marketed. For example, “Buckle up for safety” or “Click it or ticket”. |
| Marketing Information Management | is the process of gathering, sorting, analyzing, and disseminating marketing information for businesses to make daily business decisions such as compiling the results of a comment card filled out by customers. |
| SWOT Analysis | a tool used to reflect and analyze business decisions and operations based on its internal and external factors. |
| Marketing Mix | is also known as the 4 P’s: product, place, price, and promotion. |
