Marketing Vocabulary List #1

1. Marketing – the process of developing, promoting, and distributing products to satisfy customers’ needs and wants.

2. Goods – tangible; items you can physically touch

3. Services – in-tangible; items you cannot physically touch

4. Products – goods and services that have monetary value and satisfy customers’ needs and wants

5. Exchange – takes place every time something is sold in the marketplace

6. 4 Ps – Product, place, price, promotion

7. Customer – person who buys products

8. Consumer – person who uses products

9. Benefits – privileges, or monetary payments beyond salary or wages, that go with a job

10. Occupational area – category of jobs that involves similar skills and aptitudes (natural tendencies)