| A | B |
|---|
| hired to put together advertising packages | ad agencies |
| advertising in phone books | directory advertising |
| outdoor advertising | billboards |
| the most expensive form of advertising | TV ads |
| live Internet show | webcast |
| reward for satisfying cusumers' needs and wants | profit |
| the contest between businesses to win customers | competition |
| hair cutting and guitar lessons | services |
| mountain bike and TV | private wants |
| highways, drinking water, and education | public wants |
| pay raises, promotions, stock options, and profit sharing are examples | incentives |
| puts authority in one place, with top management | centralized organization |
| involves top-level management deciding how the company should perform | long-range planning |
| training and motivating employees | leading |
| making sure deadlines and budgets are met | controlling |
| involves one or more intermediaries | indirect distribution |
| free advertising for a product, like a news story | publicity |
| the particular way a product is directed to consumers | channels of distribution |
| a go-between | intermediary |
| supermarkets, drugstores, and department stores | retailers |
| business owned by one person | sole proprietorship |
| major advantage of a corporation | limited liability |
| business that moves products between businesses OR moves products between businesses and the public | intermediaries |
| a distributor | wholesaler |
| changes raw materials into more finished products | processor |
