| A | B |
|---|
| Marketing | The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. |
| Marketing Strategy | A company’s plan that identifies how it will use marketing to achieve its goals. |
| Target Market | A specific group of customers that have similar wants and needs. |
| Marketing Mix | The blending of four marketing elements- products, distribution, price, and promotion. |
| Marketing Orientation | An approach that considers the needs of customers when developing a marketing mix. |
| Final Customers | Persons who buy products and services mostly for their own use. |
| Business Consumers | Persons, companies, and organizations that buy products for the op0eration of a business, for incorporation into other products and services, or for resale to their customers. |
| Consumer Decision-Making Process | The specific sequence of steps consumers follow to make a purchase. |
| Buying Motives | The reasons consumers decide what products and services to purchase. |
| Product/Service Management | Designing, developing, maintaining, improving, and acquiring products and services that meet consumer needs. |
| Distribution | Determining the best ways for customers to locate, obtain, and use the products and services of an organization. |
| Selling | Communicating directly with potential customers to determine and satisfy their needs. |
| Marketing- Information Management | Obtaining, managing, and using market information to improve business decision-making and the performance of marketing activities. |
| Financing | Budgeting for marketing activities, obtaining the necessary funds needed for operations, and providing financial assistance to customers so they can purchase the business’ products and services. |
| Pricing | Setting and communicating the value of products and services. |
| Promotion | Communicating information about products and services to potential customers. |
| Emotional Buying Motives | Reasons to purchase based on feelings, beliefs, and attitudes. |
| Rational Buying Motives | Reasons to purchase are guided by facts and logic. |
