marketing chapter 3

the study of the process by which people make and spend their incomes

the study of individual behavior

the study of the behavior of individuals as affected by groups

the study of the behavior of groups

marketers watch and respond to society's changing values and preferences

marketers must keep an eye on current trends in the economy in order to know how to respond to changes that occur on a regular basis

designed to perform specific services for the consumer rather than to sell the company's product

refers to how customers feel about doing business with a particular firm

refers to how customers feel about a certain product

refers to how customers feel about a specific brand or products

owned a managed by one person

two or more persons who have agreed to shear the benefits and obligations of a business

an artificial being created by law for the purpose of conducting business

means that the owners have no liability for the debts of the corporation beyond the amount they have paid for stock

if the corporation earns a profit, it may pay part of this profit to the owners... it is called a

the business is owned and controlled by its customers