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Marketing 1/2
Term | Definition |
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Marketing | the action or business of promoting and selling products or services |
products | an article or substance that is manufactured or refined for sale. |
goods | , things that we make or grow and aim to sell. |
services | the action of helping or doing work for someone. |
exchange | any time two or more people trade goods or services. |
customers | a person or organization that buys goods or services from a store or business. |
consumers | a person who purchases goods and services for personal use. |
value | the difference between a prospective customer's evaluation of the benefits and costs of one product when compared with others. |
marketing mix | a combination of factors that can be controlled by a company to influence consumers to purchase its products. |
positioning | defines where your product (item or service) stands in relation to others offering similar products and services in the marketplace as well as the mind of the consumer. |
mass-marketing | a business marketing approach that seeks to advertise to the widest possible customer base, up to and including the entire market available. |
market-segmentation | a marketing strategy in which select groups of consumers are identified so that certain products or product lines can be presented to them in a way that appeals to their interests. |
geographics | a marketing strategy used to target products or services at people who live in, or shop at, a particular location |
demographics | a market segmentation technique where an organization's target market is segmented based on demographic variables such as age, gender, education, income, |
psychographics | the qualitative methodology of studying consumers based on psychological characteristics and traits such as values, desires, goals, interests, and lifestyle choices. |
customer profile | records held about individual customers, used as a guide for determining whom to target with certain products, and including details such as age, gender, and spending patterns. |