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1.04 Key Terms
Josh
| Term | Definition |
|---|---|
| Brand | kind, grade, or make, as indicated by a stamp, trademark. |
| Licensed Merchandise | If something that you own or use is licensed, you have official permission to own it or use it. |
| Owned-goods service | The most basic products of an economic system that consist of tangible consumable items and tasks performed by individuals. |
| Perishability | One of the four fundamental characteristics of a service. |
| Quality | an essential or distinctive characteristic, property, or attribute. |
| Rented-goods service | goods and services, to hold under a lease or rental agreement. |
| Separability | capable of being separated, parted, or dissociated. |
| Smoothing | Statistical technique for removal of short term irregularities in a time-series data to improve the accuracy of forecasts. |
| Venues | the place where something happens, especially an organized event such as a concert, conference, or sports event. |
| Feature | A feature is a distinctive characteristic of a good or service that sets it apart from similar items. |
| Benefit | Advantage, privilege, right, or financial reimbursement. |
| Market | An actual or nominal place where forces of demand and supply operate, and where buyers and sellers interact. |
| Target Market | A particular market segment at which a marketing campaign is focused. |
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Joshua2
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