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4.03 Key Terms

TermDefinition
Advertising Any paid form of nonpersonal presentation of ideas, goods or services.
Marketing The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
Personal Selling The form of production that determines client needs and wants and responds through planned, personalized, communication that influences purchase decisions and enhances future business opportunities.
Place marketing element requiring marketers to determine the amount of money they will ask in exchange for their products.
Price Marketing element requiring marketers t determine the amount of money they will ask in exchange for their product.
Product Marketing element referring to what goods, services, or ideas a business will offer their customers.
Promotion A marketing function needed to communicate information about goods, services, images, and/or ideas to achieve a desired outcome.
Publicity Any nonpersonal presentation of ideas, goods, or services that is not paid for by the company or individual that benefits from or is harmed by.
Created by: gisela.f538
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