Concepts in marketing Flashcards
1
Q
Need
A
a felt state of deprivation. basic needs of human beings
2
Q
Want
A
form in which a human need takes as shaped by the culture or individuality
3
Q
demand
A
human want backed by the ability to purchase
4
Q
product
A
anything that can be packaged and sold for value
5
Q
customer
A
the party that buys a product but not necessarily the end user
6
Q
consumer
A
final user of the product
7
Q
exchange
A
act of obtaining something from someone by giving some form of value to them
8
Q
market
A
set of actual and or potential buyers of a product
