1.01 Marketing Basic Word Scramble
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Term | Definition |
market | is a group of potential customers |
market segment | a subgroup of a larger market that share one or more characteristics |
market segmentation | the process of dividing a larger market into smaller groups |
geographic | markets divided by where the customer lives |
mass market | is when the group is considered as a whole with all the marketing activities; using a single market plan |
customer | someone who buys |
goals | objectives set to achieve a specified purpose that should have measurability and a deadline established |
place | include where customers can obtain the product |
behavioral | segmenting a market base on the way customers use a product or behave towards it |
tactics | specific actions for carrying out strategies and the goal. How to. |
consumer | someone who uses |
good | tangible item; can be durable or nondurable |
pricing | function that considers a value that is affordable for the customer and profitable for the business |
market info mtg | function that researches what the consumer wants |
marketing mix | four p's. |
demographic | statistics that describe a population by personal characteristic such age, gender, income, marital status, etc |
product service mtg | include what to make or obtain as the business's product mix |
price | determining what a customer is willing to pay, what competition is charging, discounts and credit terms |
promotion | decisions include the promotional mix |
strategies | plans of action used to achieve the goals (what you do) |
target market | are identified segments of the market that a business wants to have as their customer |
psycographics | markets divide by social and psychological characteristics |
product | function involves deciding what product to make or sell |
marketing concept | satisfying customers needs and wants |
selling | one on one contact w/ the customer |
marketing | process of developing, pricing, selling, promoting, and distributing products to satify customers needs and wants |
financing | obtaining the money to operate a business |
service | a business doing something for a customer |
Created by:
elena_grimaldi
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