| A | B |
|---|
| Consumer "an individual purchases a product/service for personal use. For example | you or I buying gum at a convenient store." |
| Distribution "the transporting (physical distribution) | storing (warehousing .vs. distribution centers) |
| Durable Goods "a good that does not quickly wear out | or more specifically |
| Economics "the study of allocating resources to maximize their uses. For example | government’s budgets |
| Financing "acquiring the money for starting and running a business. (Business loans for upstart money | cash flow issues |
| Goods "tangible items purchased for the value they provide the consumer’s wants or needs. For example | games |
| Idea "a cause | issue |
| Industrial "a business that purchases a product/service for the businesses use. For example | JBHS purchasing paper |
| Marketing Concept "a philosophy that drives the decision making process of a business. It focuses on satisfying the needs and wants of the consumer to achieve profits. For example | McDonald’s offers the McRib sandwich for a limited time several times a year. The sandwich doesn’t have the profitability to always be available but enough of the consumers want the sandwich from time to time. The special time offer creates the perception of exclusivity and the sandwich has higher sales for that time period. It is a win-win situation. " |
| Marketing Information Management "is the process of gathering | sorting |
| Non-Durable Goods "the opposite of durable goods. They may be defined either as goods that are immediately consumed in one use or ones that have a lifespan of less than 3 years. Examples of nondurable goods include fast moving consumer goods such as cosmetics and cleaning products | food |
| Procut/Service Management "the process of developing | improving |
| Promotion "informing | persuading |
| Selling "involves determining consumer’s wants and needs through planned | personalized communication (face to face |
| Services "intangible acts performed for a value for the consumer’s wants or needs. For example | having your hair or nails done |
| SWOT Analysis "a tool used to reflect and analyze business decision. The acronym stands for strengths | weaknesses |
