Demand Something you want, but don't need to keep you alive. A demand is a luxury.
Marketing The process of meeting the needs and demands of consumers. Marketing is how you persuade consumers to purchase your product or service.
Marketing objective The specific goal that a company hopes to achieve through marketing.
Marketing orientation One of the three traditional ways to generate sales. In the marketing orientation, the marketer fits the product to the company's target market.
Marketing plan The plan a company makes to achieve its marketing objectives. A marketing plan usually consists of three things: a situation analysis, a development of goals, and a strategy to achieve those goals.
Market share The sales percentage of the total market that a particular product, service, or entire company has.
Need A human essential - like food, water, shelter, and clothing.
Organizational objectives The specific way a company expects to carry out its mission statement.
Overcapacity When a manufacturer has way too much of a particular product.
Product orientation One of the three traditional ways to generate sales. In the product orientation, marketers believe that consumers will buy their product if the product is clearly the best dang whatever it is on the market.
Selling orientation One of the three traditional ways to generate sales. In the selling orientation, marketers believe that advertising is the best way to get people to purchase their product.
Target market The part of the market that is most likely to buy a company's product.