| A | B |
|---|
| Inexpensive items that consumers purchase regularly without a great deal of thought | Convenience goods |
| this producer concentrates on making more kinds of products in greater quantities | Production-oriented |
| Groups of customers with very similar needs to whom the company plans to sell its product | target market |
| Products that customers insist on having and are willing to search for until they find them | Specialty goods |
| four stages of sales and profit performance through which a product progresses | Product life cycle |
| A business that focuses on widespread distribution and promotion | Sales-oriented |
| Marketing is the activity, set of institutions, and process for | creating, communicating , delivering, an exchanging |
| a product can be either one of these types of goods | consumer and industrial goods |
| Keeping the needs of the consumer uppermost in mind during the design, production, and distribution of a product | marketing concept |
| the study of a company’s current and prospective customers | market research |
| The blend of all decisions that are related to the four elements of marketing | Marketing mix |
| The set of activities required to transport and store products and make them available to customers | Place (distribution) |
| The amount of money give to acquire a product | Price |
| All attributes, both tangible and intangible, that customers receive in exchange for the purchase price | Product |
| A detailed written description of all marketing activities that a business must accomplish in order to sell a product | Market plan |
| Stage of the product life cycle when several brands of the new product are available | Growth |
| Stage of the product life cycle when there are many competing brands with very similar features | Maturity |
| Stage of the product life cycle when a brand-new product enters the market | Introduction |
| Stage of the product life cycle when a new product is introduced that is much better or easier to use and customers begin to switch from the old product to the new product | Decline |
