| A | B |
|---|
| advertising | Any paid form of nonpersonal presentation of ideas, goods, or services |
| customers | The people who buy goods and services |
| durable goods | Tangible items that should last a long time |
| economy | The system in which people make and spend their incomes |
| feature | A fact about or characteristic of the product |
| Marketing | The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large |
| Marketing Concept | A philosophy of conducting business that is based on the belief that all business activities should be aimed toward satisfying customer wants and needs while achieving company goals |
| Nondurable Goods | Tangible items that are consumed within a short time |
| Personal Selling | The form of promotion that determines client needs and wants and responds through planned, personalized communication that influences purchase decisions and enhances future business opportunities |
| Planning | The management function of deciding what will be done and how it will be accomplished |
| Pricing | A marketing function that involves determining and adjusting prices to maximize return and meet customers’ perceptions of value |
| Producers | The people who make or provide goods and services |
| Product | Marketing element referring to what goods, services, or ideas a business will offer its customers |
| Publicity | Any nonpersonal presentation of ideas, goods, or services that is not paid for by the company or individual that benefits from or is harmed by it |
| Sales Promotion | Promotional activities other than advertising, personal selling, and publicity that stimulate customer purchases |
| Services | ntangible activities that are performed by other people for money; productive acts that satisfy economic wants |
| Standard of Living | The general conditions in which people live; quality of life |
