| A | B |
|---|
| market | A group of customers who share common wants and needs. |
| Marketing | The process of creating, promoting, and presenting a product or service to meet the wants and needs of consumers. |
| relationship marketing | This is used to build and maintain relationships with customers. |
| channel of distribution | A pathway to direct products to consumers. |
| Direct Distribution | Occurs when goods or services are sold directly from the producer to the customer. |
| Indirect distribution | distribution involving one or more intermediaries. |
| break- even point | The point at which total revenues or sales equal total costs and expenses. |
| Promotion | involves making customers aware of a product |
| Place | the part of the marketing mix that concerns how and where customers will buy goods and services. |
| Product | The part of the marketing mix concerned with how to make the product appeal to consumers |
| Market research | The gathering an analysis of information on the size, location, and make-up of a market. |
| marketing concept | Involves determining the wants and needs of customers and providing them more efficiently and effectively than competitors. |
| demographics | facts about the population |
| target marketing | helps companies focus on the people most likely to buy their goods and services. |
| Market segmentation | The division of a market for a product into groups of customers who have the same needs and traits. |
| brainstorming | when workers get together to come up with ideas for new products. |
