MARKETING VOCAB

A person who starts up and takes on the risk of a business

a set of buyers sharing common needs or characteristics that the company decides to serve

Product, Price, Place, Promotion (4 P's)

the activity or business of promoting and selling products or services, including market research and advertising.

Fluctuations in economic activity, such as employment and production

emphasizing price as an issue and matching or beating competitors' prices

system where private individuals or groups of private individuals own and operate the means of production

statistical data relating to the population and particular groups within it.

the struggle among producers for the dollars of consumers

the process of dividing a market into meaningful, relatively similar, and identifiable segments or groups

A system for producing and distributing goods, and services to fulfill people's wants

Goods brought into a country

a planning tool used to analyze an organization's strengths, weaknesses, opportunities, and threats

a formal written document that describes the nature of a business and how it will operate

A business established under an authorization to sell or distribute a company's goods or services in a particular area

the process of starting, organizing, and managing a business.

a written document that acts as a guidebook of marketing activities for the marketing manager

developing products and promotions to please large groups of people

Degree of uncertainty of return on an asset; in business, the likelihood of loss or reduced profit.

competition between businesses based on quality, service, and relationships

goods sold to other countries

all things used in producing goods and services

Segmentation of the market based on where people live

True or False? A monopoly is the process of starting, organizing, and managing a business.

Ability or capacity of a good or service to be useful and give satisfaction to someone.