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 Introduction to Marketing WOW 2. Wants: to feel a desire for; wish for.

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Presentation on theme: " Introduction to Marketing WOW 2. Wants: to feel a desire for; wish for."— Presentation transcript:

1  Introduction to Marketing WOW 2

2 Wants: to feel a desire for; wish for.

3 Needs: a requirement, something necessary

4 Consumer: a person who buys and uses goods and services.

5 Scarcity: insufficiency or shortness of supply.

6 Surplus: an amount, quantity that is greater than needed.

7 Opportunity Cost: the benefit that could have been gained from an alternative use of the same resource.

8 Entrepreneur: a person who starts any enterprise, with initiative and risk.

9 Sole Proprietor: business entity that is owned and run by one individual.

10 Partnership: a contract between individuals who, in a spirit of cooperation, agree to carry on an enterprise.

11 Corporation: a separate legal entity that has privileges and liabilities that are distinct from those of its members. An important feature is limited liability.


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