| A | B |
|---|
| value | Benefits a customer erceives from buying a good or service |
| marketing | An organizational function and a set of processes for creating, communicating, and delivering value to custoemrs and for managing customer relationships in ways that benefit the organization and its stakeholders. |
| stakeholders | Buyers, sellers, or investors in a company, community residents, and even citizens of the nations where goods and services are made or sold-in other words, any person or organization that has a "stake" in the outcome. |
| consumer | The person who USES a good or service. |
| marketing concept | A management orientation that focuses on identifying and staisfying consumer needs too ensure the organization's long-term profitability. |
| need | The recognition of any difference between a consumer's actual state and some ideal or desired state. |
| want | The desire to satisfy needs in specific ways that are culturally and socially influenced. |
| benefit | The outcome sought by a customer that motivates buying behavior-that satisfies a need or want. |
| demand | Customers' desires for products coupled with the resources needed to obtain them. |
| market | All the customers and potential customers who share a common need that can be satisfied by a specific product, who have the resources to exchange for it, who are willing to make the exchange, and who have the authority to make the exchange. |
| marketplace | Any location or medium used to conduct an exchange. |
| virtual goods | Digital products consumers buy for use in online contexts. |
| utility | The usefulness or benefit consumers receive from a product. |
| exchange | The process by which some transfer of value occurs between a buyer and a seller. |
| product | A tangible good, service, idea, or some combination of these that satisfies consumer's needs. |
