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Chapter 27
Marketing
Term | Definition |
---|---|
Marketing | Everything involved in getting a product or service from the producer to the consumer at a profit. |
Target Market | Refers to all of the people who might buy a particular product or service. |
Market Research | Involves collecting information about a product and its market and then using that information to make business decisions. |
Desk Research | When information is collected about a market by looking up reports, newspaper articles and other documents that are availble on the internet, in libraries or from government agencies. |
Field Research | Involves going out and asking members of the public questions about your product or service in order to find the information you need. |
Merchandising | Refers to any methods used to display products in a shop in order to generate interest in the product and encourage consumers to make a purchase. |
Advertising | The communication of information about a product or service to the consumer. |
Sales Promotion | Refers to all ideas, other than advertising, used by a firm to try to increase sales of a particular product or service. |