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DECA Vocab.CH.1

DECA Vocab.

Marketing The process of Planning, Promoting, selling, and distributing products to satisfy customers' needs and wants.
Goods Tangible items of monetary value that satisfy needs and wants.
Services Intangible items of monetary value that satisfy needs and wants.
Utility An attribute of a product or service that makes it capable of satisfying consumers' wants and needs.
Market People who share similar needs and wants and are capable of buying products.
Consumer Market Consumers who purchase goods and services for personal use.
Industrial Market Businesses that buy products to use in their operations;also called the business-to-business market.
Market Share A company's percentage of total sales volume generated by all competition in a given market.
Target Market A group of people identified as those most likely to become customers.
Customer Profile A List of information about a target market, such as age, income level, ethnicity, occupation, attitudes, lifestyle,and geographic residence.
Marketing Mix The four basic marketing strategies, called the four P's: Product, Place, Price, and Promotion
Created by: fernando73
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