a location where people bring products to be conveniently exchanged
What is a central market
100
blending of the four marketing elements (product, distribution, price, and promotion) by the business
What is a Marketing Mix
100
the use of currency as a recognized medium of exchange
What is money system
100
concentrating effort on one thing or a few related activities so that they can be done well
What is specialization of labor
200
The cost you give your product the amount customers pay
What is pricing
200
the prospective customers a business wants to serve and the location of those customers
What is a market
200
anything offered to a market by the business to satisfy needs, including physical products, services, and ideas
What is Product
200
the business function that plans and manages financial resources and maintains records and information related to a business''s finances
What is accounting and finance
200
offering products produced or manufactured by others for sale to customers
What is merchandising
300
someone who uses your product
What is a consumer
300
the locations and methods used to make the product available to customers
What is distribution
300
an approach to customer service that gives employees the authority to solve many customer problems
What is employee empowerment
300
an economic system in which resources are owned by individuals and decisions are made independently with no attempt at government regulation or control
What is a free economy
300
a set of standards or rules that guide ethical business behavior
What is code of ethics
400
someone who buys your product
What is a customer
400
amount of want/ need in an area
What is demand
400
not relying on others for the things you need to survive
What is self-sufficent
400
exchanging products or services with others by agreeing on their values without using money
What is bartering
400
taking personal responsibility for actions
What is self regualtion
500
The creation/ making of your product
What is production
500
the creation and maintenance of satisfying exchange relationships
What is Marketing
500
the ongoing activities designed to support the primary function of a business and keep it operating efficiently
What is operations
500
using the needs of customers as the primary focus during the planning, production, pricing, distribution, and promotion of a product or service
What is marketing concept
500
marketing activities designed to satisfy customer needs without negatively impacting the environment