Principles of Marketing 1.03A
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14 terms
Terms | Definitions |
|---|---|
 Budget | An estimate of income and expense for a specific period of time. |
| Customer Service | Activites and benifets provided by a business to its create goodwill and customer satifaction. |
| Data | Facts and figures |
| Distributor | a channel member who hepls to sell a business's products; usually a wholesaler |
| Estimate | an approximation of data; an ''educated guess'' |
| Fact | a true statement |
| Market Segment | one of the groups in which total market is divided |
| Market Share | an organization's portion of the total industry sales in a specific market |
| Place | marketing element focusing on consideration in getting a selected product in the right place at the right time. |
| Prediction | A forcast made about the future. |
| Price | marketing element requiring marketers to determine the amount of money they will ask in exchange for their products. |
| Product | Market element referring marketers to determine the amount of money they will ask in exchange for their products. |
| Projection | See prediction |
| Promotion | ... |
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