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Chapter 27

Marketing

TermDefinition
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.
Created by: jdunnestmarks
 

 



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