Engineering Management

Marketing is the management procedure in which the product or service is moves from concept to the customer. It includes the co-ordination of the 4 P’s of marketing: product, price, placement and promotion. [tutor2u.net]

d. Obtain and promptly deliver or tender to the buyer any document necessary to enable the buyer to obtain possession of the goods from the carrier.

A product is anything that can be offered to the market to satisfy a customer needs and desires. Product include physical goods, services experiences, events, person, place and etc. It is

A transferable, signed document that promises to pay the bearer a sum of money at a future date or on demand. A note is an instrument that promises that a payment will be made. There are four kinds of negotiable instruments: drafts, checks, promissory notes, and certificates of deposit. A draft is an instrument that orders a payment to be made.

Unlike order to pay, the promise to pay has a maker and a bearer involved in the transaction. The maker is the person that issues the promise to pay, and the bearer is the person that will be paid. A promissory note is a written promise stating that one party will pay the other party the specific amount to be paid (Miller & Hollowell, 2014). A promissory note is also known as a note and is normally used in credit transaction such as a mortgage transaction. The person that is entering into an agreement for a mortgage will issue a promissory note stating that the balance of the house will be paid at a certain time. These types of transactions are paid in installments over a period of time. A certificate of deposit or CD is known as a bank note. A CD is used when a party deposits money into a bank. The bank will issue a CD as a promise to pay the amount collected along with interest at a specified time (Miller & Hollowell, 2014).

Two other elements that are necessary for the successful conclusion of the contract are reality of consent and legal capacity of the parties to form a contract .

Product- A product is anything that can be offered to a market to satisfy a want or need, products include physical goods, services, experience, events, persons, places, properties organisations, information and ideas. It is therefore the combination of goods

| The marketing concept stresses the commitment to satisfying customer needs and wants with an entire range of marketing tools, not just selling or advertising.

Certain business situations necessitate that customers take title to the goods purchased, agree to pay for them and yet not be in a position to accept delivery of the goods. In such cases, the sellers fulfill the manufacturing requirements and segregate the goods in their warehouses so as to make the goods available to the customers for shipment. Such transactions are labeled ‘bill and hold’ agreements (Grant Thornton, 2010).

Marketing concept believes that for a company to achieve organizational goals, it depends on determining the needs and wants of the target market. It takes an outside-in approach. Marketers practising this concept recognise that customers are always the first priority of the organization and they aim on complete customer satisfaction. This requires an integrated marketing effort, that is, team work between different departments within the organization. For instance, team work between the marketing team and the academic team of UCSI University. The marketing team will be in-charge of the promotion of the academic programmes available in UCSI University while the academic team will have to ensure and maintain the quality of the programmes and courses offered.

The term "product" refers to tangible, physical products as well as services. A product is everything one receives in an exchange,

Term/Jargon that I am unfamiliar with  Billing Terms to retailers (pg. 2, middle of paragraph 2)     My guess of what it means  Conditions attached to a sale?    

According to our book product is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. It includes physical objects,

Product – Product can be defined as the goods or services which is made to fulfil customer’s demands and needs. While making the product company should take care about its quality and features must be according to the customer’s needs to satisfy them.

Negotiable instruments are written orders or unconditional promises to pay a fixed sum of money on demand or at a certain time. Promissory notes, bills of exchange, checks, drafts, and certificates of deposit are all examples of negotiable instruments. Negotiable instruments may be transferred from one person to another, who is known as a holder in due course. Upon transfer, also called negotiation of the instrument, the holder in due course obtains full legal title to the instrument. Negotiable instruments may be