Marketing - A term that describes the planning, pricing, promoting, distributing and selling of a product or service.
Consumer Market - Everyone who might buy a product.
Raw Materials - Products before they have been processed.
Processed goods - Goods that have been changed from their raw materials.
Target Market - The group of people the manufacture or service provider want to buy their product.
Marketing Concept - The idea held by a company about how to get people to use its product or service, as well as how to make the product or service better than its competitors while still meeting its own goal and priorities.
Tariffs - Taxes on imported goods, increasing the price of these products within the market.
Distribution Management - A way in which the company organizes the distribution of its products.
Marketing Mix - The combination of product, packaging, promotion, and price used to encourage a consumer to buy a product.
Value Equation - A formula that takes all of the possible positive things about a product & subtracts the negative things and gives the company an idao of the products possible success.
Push Strategy - A strategy used to get stores to stock products (by using discounts to retailer, displays).
Pull Strategy - A strategy used to get people to buy products by convincing them that they need the product, and nothing else will do.
Personal Value Equation - A measurement as marketers to create a profitable exchange for consumers, less the price and hassle of receiving a good.