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MK-901 (formerly MK-004) Have It Your Way! (Nature of Marketing) 1

AB
Competitive advantageThe edge achieved by businesses that offer something better than their competitors
Durable goodsTangible items that should last a long time
FeatureA fact about or characteristic of a product
MarketingThe activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
Nondurable goodsTangible items that are consumed within a short time
Personal sellingThe form of promotion that determines client needs and wants and responds through planned, personalized communication that influences purchase decisions and enhances future business opportunities
PlanningThe management function of deciding what will be done and how it will be accomplished
Marketing conceptA philosophy of conducting business that is based on the belief that all business activities should be aimed toward satisfying customer wants and needs while achieving company goals


Business Marketing Teacher, Career Technical Education
CENTRAL CABARRUS HIGH SCHOOL
Concord, NC

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