Entrepreneurship Chapter 5

The __________ is the name, symbol, or design used to identify a product.

Business’s % of the total sales generated by all companies in the same market is called

Short-term goals are what you want your business to achieve in the next month

MKTing involves all of the processes to determine/satisfy the needs of customers & the company

Creating an image for a product in the customer’s mind is called

The __________ is the amount earned as a result of an investment, usually expressed as a %

Once an entrepreneur has identified his/her goals, it is time to develop a

Pricing that is determined by how much customers are willing to pay for a product/service is

Pricing objectives should be developed only after prices have been set

The different products and services a business sells are its product __________.

Different products and services within the same category serve different customer needs

Product characteristics that will satisfy consumer needs are called

The marketing __________ is a blending of the product, price, distribution, and promotion used

A marketing __________ is a written report.