Marketing Essentials Chapter 1 Vocab

An added value in economic terms;

Consumers who purchase goods and services for personal use.

The amount of a given market controlled by a business

The group of people most likely to become customers, identified for specific marketing programs

Another way to describe the Marketing Mix

The business-to-business (B2B) market

Intangible items that have monetary value and satisfy your needs and wants.

All people who share similar needs & wants and who have the ability to buy a given product.

The idea that businesses should satisfy customers’ needs & wants while earning a profit.

Tangible items that have monetary value and satisfy your needs and wants.

Demographic information such as age, gender, income and education is found on what?