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ch 11

buisness

QuestionAnswer
marketing expedite transactions by creating, distributing, pricing, and promoting, goods, services, and ideas
exchange giving up one thing in return for something else
value customer's assessment of benefits relative to costs in determining the worth of a product
marketing concept organization should try to satisfy customer's needs through coordinated activities
market orientation gathering information about customers needs sharing it with the entire firm and build long-term relationships
marketing strategy plan for developing, pricing, distributing, and promoting products that meet customers needs
market group of people that have the need, purchasing power and the desire to spend money on goods, services and ideas
target market group of consumers whose needs and wants a company focuses its marketing efforts
total-market approach a firm tries to appeal to everyone and assumes that all buyers have similar needs
market segmentation firm divides the total market into groups of people who have relatively similar product needs
market segment collection of individuals, groups, or organizations who share one or more characteristics
concentration approach a company develops one marketing strategy for a single market segment
multisegment approach marketer aims its efforts at two or more segments, developing marketing strategy for each
Created by: chelsea.lewis