| A | B |
|---|
| target market | specific customers business focuses on |
| Birthday Card | Maintaining a relationship |
| Frequent Buyer Discount | Rewards Program |
| Product | anything that can be bought or sold |
| Good | something you can touch |
| Service | Hair cut - seeing a play |
| Place | making products available to customers |
| Price | amt. of $$$'s exchanged for a product |
| Promotion | telling people about the product |
| Marketing Mix | the 4 P's - plan of action |
| Need | something necessary for survival |
| want | a desire |
| exchange | trade something of value for something you want |
| value | how much something is worth |
| Business | activities involved in dev. and exchange of products |
| Profit | $$$'s left after expenses have been paid |
| sole proprietorship | business owned by one person |
| partnership | business owned by 2 or 3 people |
| Business owned by stockholders | corporation |
| nonprofit corporation | Red Cross |
