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The process of planning, pricing, promoting, selling, and distrubting ideas, goods, or services to create exchanges that satify customers.


Tangible items that have monetary value and satisfy your needs and wants.


Intangible items that have monetary value and satisfy your needs and wants.

Marketing Concept

Idea that a business should strive to satisfy customers' needs and wants while generating a profit for the firm.


Attributes of a product or service that make it capable of satisfying consumers' wants and needs.
(form, place, time, possession, and information)


All people who share similar needs and wants and who have the ability to purchase a given product.

Consumer Market

Consists of consumers who purchase goods and services for personal use.

Industrial Market

Includes all businesses that buy products for use in their operations.

Market Share

A company's percentage of the total sales volume generated by all companies that compete in a given market.

Target Market

The group that is identified for a specific marketing program.

Customer Profile

Information about the target market, such as age, income level, ethnic background, occupation, attitudes, lifestyle, and geographic residence.

Market Mix

The four P's: Product, Place, Price, and Promotion.

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