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QuestionAnswer
Consumer The person who uses the product.
Customer The person who purchases the product. In many cases the customer is also the consumer.
Goods Tangible items that satisfy customer's wants and needs.
Services Intangible items that satisfy customer’s needs and wants.
Market The group of potential buyers.
Marketing Process of developing, promoting, pricing, selling, and distributing products to satisfy customer’s wants and needs.
Needs A necessity for living.
Place Having the product available at the right time and location. Place is also known as distribution or logistics.
Price The amount a business charges customers for a product.
Product Businesses must decide which products to offer customers. Products include both goods and services.
Promotion Informing and reminding customers of the products available to them and persuading them to purchase.
Target Market The group of consumers a business desires to have as customers.
Marketing Mix A combination of decisions a business makes in order to best reach its target market.
Wants Products that are not necessities but are simply desired by the consumer.
Popular Marketing sets

 

 



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