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Definition
| Actually making or performing services. |
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| Extent to which a firm fulfills a customer's needs, desires, and expectations. |
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| Spread and development of new ideas, goods and services. |
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| Identifying and meeting a customer's needs. |
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Definition
| Each family unit produces everything it consumers. |
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| A social process that directs an economy's flow of goods and servces from producers to consumers in a way that effectively matches supply and demand and accomplishes the objectives of society. |
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Term
| 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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| Someone who specializes in trade rather than production. |
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| Firms that facilitate or provide one or more of the functions other than buying or selling. |
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| Refers to excanges between individuals or organizations and activities that faciliate these exchanges based on applications of information technology. |
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Definition
| Government officials make the decisions. |
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Definition
| The individual decisions of the many producers and consumers make the macro-level decisions for the whole economy. (It adjusts itself) |
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Definition
| Time when families traded or sold their "surplus" output to local distributors. |
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Definition
| A time when a company focuese on production of a few specific products - perhaps because few of these products are available in the market. |
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Definition
| A time when a company emphasizes selling because of increased competition. |
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Definition
| Time when all marketing activites are brought under the control of one department to improve short-run policy planning and to integrate the firm's activites. |
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Definition
| An organization aims all its efforts at satisfying its customers - at a profit. |
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Definition
| Carrying out the marketing concept. |
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Term
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Definition
| Making whatever products areeasy to produce and then trying to sell them. |
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Definition
| Difference between the benefits a customer sees from a market offering and the cost of obtaining those benefits. |
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Term
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Definition
| Conclicts and difficulties caused by producers and consumers making free choices. |
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Term
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Definition
| Moral standards that guide marketing decisions and actions. |
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