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| actually making goods or performing services |
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| the extent to which a firm fulfills a customer's needs desires and expectations |
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| a social process that directs an economy's flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the objectives of society |
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| a company produces larger numbers of a particular product, the cost of each unit of the product goes down |
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| universal functions of marketing |
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Definition
| buying, selling, transporting, storing, standardization and grading, financing, risk taking, and market information |
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Definition
| looking for and evaluating goods and services |
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| involes promoting the product |
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| the movement of goods from one place to another |
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| involves holding goods until customers need them |
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| standardization and grading |
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| sorting products according to size and quality |
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Definition
| the necessar cash and credit to produce, transport, store, promote, sell, and buy products |
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Definition
| bearing the uncertainties that are part of the marketing process |
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| market information function |
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Definition
| the collection, analysis. and distribution of all the information needed to plan, carry out, and control marketing activities, whether in the firm's own neighborhood or in a market overseas. |
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Definition
| someone whos pecializes intrade rather than production-plays a role in the exchange process |
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| firms that facilitate or provide one or more of the marketing functions other than buying or selling |
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| the way an economy organizes to use scarce resources to produce goods and services and distributes them for consumption by various people and groups in society |
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| government officals decide what and how much is to be prduced and distributed by who, when, to whom, and why |
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Definition
| the individual decisions of many producers and consumers make the macro-level decision for the whole economy |
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Definition
| a time when families traded or sold their "surplus" output to local distributors |
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| a time when a company focuses on production of a few specific products- perhaps because few of these products are available in the market |
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| a time when a company emphasizes selling because if increased competition |
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Definition
| s time whan all marketing activites are brought under the control of one department to improve short-run policy planning and to try to integrate the firm;s activites |
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Definition
| a time when, in addition to short-run marketing planning, matketing people develop long-range plans- sometimes five or more years ahead- and the whole company effort is guided by the marketing concept |
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Definition
| an organization aims all its efforts at satisfying its customers- at a profit |
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Definition
| making whatever products are easy to produce and then trying to sell them |
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Definition
| trying to carry out the marketing concept |
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| the differnece between the benefits a customer sees from a market offering and the cost of obtaining those benefits |
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Definition
| producers and consumers making free choices can cause conflicts and difficulties |
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| the moral standards that guide marketing decisions and actions |
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| when each family unit produces everything it consumes- there is no need exchange goods and services and no marketing is involved |
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Definition
| the performance of activities that seek to accomplish an organization's objectives by anticipating customer or client needs directing a flow od need-satisfying goods and services from producer to customer or client |
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Definition
| the development and spread of new ideas, goods, and services |
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Definition
| exchanges between individuals or organizations- and activities that facilitate these exchanges- based on applications of information technology |
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Definition
| a firm's obligation ti improve its positive effects on society and reduce its negative effects |
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