| A | B |
|---|
| market | any place where goods are sold |
| marketing | performance of activities that direct the flow of goods |
| middleman | any person who assists in moving the goods from the producer to the consumer |
| wholesaler | a middleman who buys from a producer and resells to retailers |
| retailer | a middleman who performs the last step in the marketing process, selling to consumers |
| marketing channel | the route along which goods flow |
| marketing concept | determinng the needs or wants of consumers |
| profit | the amount of income left after business expenses |
| seller's market | a time in which a seller can market goods with relative ease. |
| buyer's market | when buyers are in a position to dictate certain terms of a sale. |
| utility | ability of goods and wants to satisfy human wants |
| form utility | a change in shape that adds value to a product |
| place utility | a change in place that adds value to a product |
| time utility | a change in time that adds value to a product |
| possession utility | a change in possession that adds value to a product |
| information utility | a change in value as a result of hearing, seeing, or reading. |
| marketing mix | elements essential to success in marketing a product or service. |
