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Marketing & Research

Terms and definitions for marketing and researching your business

TermDefinition
Market research Gathering and analysing information about the potential market for a product or service.
Desk research Accessing information that already exists
Field research Gathering information directly from the marketplace about customers and competitors.
Observation research Watching the behaviours of customers.
Customers surveys Using a questionnaire to ask customers about their attitudes towards new p or existing goods or services.
Marketing Identifying consumer needs and producing the products or services that meet those needs.
The marketing mix A combination of actions a company uses when selling a product or service. (Product, Price, Place & Promotion)
Market A place where goods or services are bought and sold.
Brand An identity, name or logo that makes a product or service different from competitors.
Target market A group of people with a common theme that will buy a particular product or service.
Product life cycle The theory that, like people, most product or services pass through distinct life stages; introduction, growth, maturity and decline.
Wholesalers Businesses that buy goods in very large amounts from producers and sell them in smaller amounts to retailers.
Retailers Shops at the end of the chain of distribution that sell goods and services to consumers.
Channels of distribution The routes that goods may follow to get from the producer tot the consumer.
Producers The companies that make or grow a product, also called manufacturers.
Promotion Communicating with customers to attract their attention to a product or service.
Advertising Communicating with consumers to inform, persuade or remind them about a product or service.
Created by: mdowneykk
Popular Marketing sets

 



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