| A | B |
|---|
| Marketing | creation and maintenance of satisfying exchange relationships |
| Marketing Mix | how a business blends the four marketing elements of product, distribution, price, and promotion |
| Product | what a business offers customers to satisfy needs |
| Distribution | the location and methods used to make products available to customers |
| Price | the amount that customers pay for products |
| Promotion | the ways to make customers aware of products and encourage them to buy |
| Self-Sufficient | You do not rely on others for the things you need to survive |
| Bartering | Exchanging products or services with others by agreeing on their value |
| Specialization of Labor | Concentrating on one thing or a few related activities so that they can be done |
| Money System | Established the use of currency as a recognized medium of exchange |
| Central Market | A location where people bring products to be conveniently exchanged |
| Production | Creates or obtains products or services for sale |
| Merchandising | Offering products produced or manufactured by others for sale to customers |
| Operations | The ongoing activities designed to support the primary function of a business and keep it operating efficiently |
| Accounting and Finance | Plans and manages financial resources and maintains records and information related to a business's finances |
| Management | Involves developing, implementing, and evaluating the plans and activities of a business |
| Marketing Concept | Using the needs of customers as the primary focus during the planning, production, pricing, distribution, and promotion of a product or service |
| Market | A description of a unique group of prospective customers a business wants to serve and their location |
| Relationship Marketing | Focuses on developing loyal customers who continue to purchase from the business for a long period of time |
| Employee Empowerment | An approach to customer service that gives employees the authority to solve many customer problems |
