| A | B |
|---|
| marketing | The process of developing, promoting, and distributing products to satisfy customers' needs and wants |
| products | Goods and services, both of which have monetary value and satisfy customers' needs and wants |
| goods | The kinds of things you can touch or hold in your hand |
| services | The kinds of things you can't physically touch |
| exchange | Takes place every time something is sold in the marketplace |
| business, management, entrepreneurship | Understanding the basics of business, management, and entrepreneurial concepts that affect business decision making |
| communication and interpersonal skills | Understanding concepts, strategies, and systems needed to interact effectively with others |
| economics | Understanding the economic principles and concepts that are basic to marketing |
| professional development | understanding concepts and strategies needed for career exploration, development, and growth |
| distribution | deciding whre and to whom products need to be sold in order to reach the final users |
| financing | Obtaining the money that is necessary to pay for the operation of a business |
| marketing information management | Getting the necessary information to make sound business decisions |
| pricing | Dictating how much to charge for goods and services in order to maximize profits |
| product | Obtaining, developing, maintaining, and improving a product or a product mix in response to market opportunities |
| promotion | Communicating with potenial customers to inform, persuade, or remind them about a business's products |
| selling | Provides customers with goods and services they want |
| production | the creation of goods and services from economic resources |
| staffing | the management function of finding workers for the business |
| utility | Usefulness, capable of satisfying wants and needs |
