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Marketing Concepts

TermDefinition
Marketing Activity set of institutions,and processes for creating,communicating,delivering,and exchanging,exchanging offers,have value for customers ,clients,partners,and society.
Marketing Mix Mix of controllable marketing variables that the firm uses to pursue the desired level of sales in a target market.The "Four PS'
Functions of Marketing Distribution,financing,marketing information management,pricing,product/service management,promotion,and selling.
Situation Analysis Systematic collection and study of past and present data to identify trends,forces,and conditions with the potential to influence the performance of a business and the choice of appropriate strategies.
Marketing Concept Idea to satisfy a customers needs and wants to make a profit.
Customer Prospective purchaser of products or services.
Target Market Segment of a total population on which a business focuses its expertise to satisfy that sub market in order to accomplish its profit objectives.
Market Segmentation Process of subdividing a market into distinct subsets of customers that behave in the same way or have similar needs.
Demographic Study of total size,sex,territorial distribution,age,composition and other characteristics of human population,
Geographic Market segmentation based on where you r target market lives.Local, regional ,national, and global markets.
Psychographic Process of dividing markets into segments on the basis of consumer lifestyles,attitudes,behaviors,and drives.
Created by: irangel3947
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