| A | B |
|---|
| Market Survey | The study of the spending characteristics and purchasing power of the consumer who are within your business's geographic area of operation; a research method for defining the market parameters of a business. |
| Empowerment | Giving employees the authority to correct a problem without first checking with management |
| Total Quality Management | The philosophy that everyone in the organization is concerned about quality, throughout all of the firm's activities, to better serve customer needs. |
| Logistics | Transporting, storing and handling of goods in ways that match target customer's needs with a firm's marketing mix |
| Innovation | The development and spread of new ideas, goods and services |
| E-commerce | Exchanges between individuals or organizations-and activities that facilitate those exchanges-based on applications of information technology. |
| Marketing Concept | The idea that an organization should aim all its efforts at satisfying its customers-at a profit |
| Customer Value | The difference between the benefits a customer sees from a market offering and the costs of obtaining those benefits |
| Social Responsibility | A firm's obligation to improve its positive effects on society and reduce its negative effects |
| Marketing Ethics | The moral standards that guide marketing decisions and actions |
