click below
click below
Normal Size Small Size show me how
BUSN-1010 Conroy 12
Chapter 12
| Question | Answer |
|---|---|
| Business-to-Business Market | AKA industrial/organizational market. Consists of those business individuals and organizations that want business goods and services that will help them produce or supply their own business goods and services. |
| Consumer Market | Consists of all those individuals or households that want goods or services for their personal use. |
| Demographic Segmentation | Consists of categorizing consumers according to statistical characteristics of a population, such as gender, age, income, education, social class, ethnicity, and so on. |
| Marketing | The activity, set of institutions, and processes for creating, communication, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. |
| Marketing Research | The systematic gathering and analyzing of data about problems relation to the marketing of goods and services. |
| Pricing | Figuring out how much to charge for a product--the price, or exchange value, for a good or service. |
| Primary Data | Data derived from original research. |
| Product | A good or service that can satisfy customer needs. |
| Promotion | All the techniques companies use to motivate consumers to buy their products. Techniques such as advertising, public relations, publicity, personal selling, and other kinds of sales. |
| Sellers Market | A market in which there is more demand for products than there is supply. |
| Target Marketing Strategy | Concept of marketing, in which a company markets to a particular market segment, whose members have similar characteristics or wants and needs. |
| Value | A customer's perception that a certain product offers a better relationship between costs and benefits that competitors' products do. |