Module 4 (Lesson 1-2)

This is a form of human need shaped by culture and individual personality.

These are human wants and needs back up by purchasing power.

This term refers to a state of felt deprivation. It is also known as natural essential elements designed for survival.

This is known as the act of obtaining a desired object from someone by offering something in return.

These are group of people who have the money and the willingness to spend it.

The extent to which a product tends to meet the buyer’s expectation of this product.

A bundle of attributes and benefits designed to be offered to buyers to satisfy their needs, wants and demands.

It is essentially an intangible product offered for the benefit and satisfaction of buyers.

The human interaction between an enterprise and its customers designed to create value-laden dealings and associations.

This term means putting parts together to form a final product.