Marketing Basics Word Scramble
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Term | Definition |
Marketing | The process of developing, promoting, pricing, selling, and distributing products to satisfy customer's wants and needs |
Marketing Cocept | All business activities should be aimed toward satisfying consumer wants and needs while achieving company goals |
Good | Tangible items |
Service | Things that are provided to you, EX: Geico |
Consumer | The person who uses the product |
Customer | The person who buys the product |
Goal | An objective you plan to fulfill |
Strategy | A plan of action for achieving your goals and objectives |
Tactic | Specific actions used to carry out strategies |
Customer Orientation | Do it their was: Offer products that consumers want to buy Customer service professionals handle complaints |
Market | A group of potential customers |
Market Segment | A subgroup of a larger market that share one or more characteristics |
Geographic | Markets divided by where the customer lives |
Mass Marketing | When the group is considered as a whole with all the marketing activities; using a single marketing plan |
Place | Include where the customer can obtain the product |
Behavioral | Segmenting a market base on the way customers use a product or behave toward a product |
Price | Function that considers a value that is affordable for customers and profitable for the business |
Marketing Information Management | Function that researches what the consumer wants |
Demographic Segmentation | Statistics that describe a population by personal characteristics such as age, gender, income, marital status, ethnicity, education, and occupation |
Product | Include what to make or obtain as the business's product mix |
Pricing | Include determining what a customer is willing to pay, what competition is charging, determining discounts and credit terms. |
Promotion | Decisions include the promotional mix |
Target Market | Are identified segments of the market that a business wants to have as their customers. |
Psychographic Segmentation | Markets divided by social and psychological characteristics |
Product/Service Management | Function that involves deciding what product to make or sell |
Selling | Function that involves one-on-one contact with the customer |
Financing | Function that involves obtaining the money to operate a business |
Market Segmentation | The process of dividing a larger market into smaller parts |
Created by:
graceegriffin
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