| A | B |
|---|
| marketing | developing, promoting, distributing |
| utility | added value |
| target market | ads aimed at this group |
| monopoly | exclusive control |
| profit | money earned from business less taxes |
| factors of production | land and labor are two |
| business | producing and marketing products |
| discretionary income | vacation money |
| retailers | sell to end users |
| marketing mix | 4 P's |
| selling | satisfying customers |
| prospect | potential customer |
| buying signals | indicate ready to buy |
| free enterprise system | US system is example |
| business cycle | prosperity, recession, depression, recovery |
| advertising | paid promotion |
| marketplace | where products are sold |
| communication | exchange ideas |
| email | computer mail |
| body language | signals through movement/gestures |
| products | both goods and services |
| demand | how much customers will buy |
| inflation | rising prices |
| ethics | guidelines for good behavior |
| disposable income | money left after taxes |
| jargon | industry specific language |
| consensus | everyone agrees |
| mission statement | company goals |
| laymen's terms | common language |
| layaway | store merchandise until paid for |
| point of sale system | grocery store scanner |
| telemarketing | selling by phone |
| open ended question | requires more than yes or no |
| import | products sent into US |
| psychograpic trend | eating healthy |
| demographic | age, gender, race, income |
| geographic | where someone lives |
| objections | why customers don't buy |
| preapproach | step 1 of sale |
| approach | step 2 of sale |
| determining needs | asking questions of customers |
| presenting the product | use feature/benefit chart |
