Marketing Concepts Vocab 1

Using channels to get products to consumers.

Business must satisfy needs and wants of their customer to compete.

Determines prices for products in order to maximize profit.

Person who uses the product.

Obtaining the money necessary for business operations.

Reduce the marketing focus to product-market areas where companies are more likely to have a competitive advantage.

Managing market information to maximize business decisions.

Person who buys the product.

Providing consumers with the products and services they desire.

Applying promotional techniques to potential customers.

Developing, improving and maintaining a product mix.