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marketing 1.04

TermDefinition
Goal An objective or want that you plan to fulfill.
Marketing mix The combination of the four elements of marketing.
Place Marketing element focusing on considerations in getting a selected product in the right place at the right time.
Price Marketing element requiring marketers to determine the amount of money they will ask in exchange for their products.
Promotion Marketing element referring to the various type of communications that marketers use to inform, persuade, or remind customers of their product.
Strategies Plans of action for achieving goals and objectives.
Tactics Specific actions that will be used to carry out strategies.
Product What you sell to customers, Includes the product itself, label, warranty and guarantee.
Behavioral segmentation The division of a market on the basis of customers'
Demographic segmentation The division of a market on the basis of its physical and social characteristics.
Geographic segmentation The division of a market on the basis of where the customer is located.
Market A customer or a potential customer who has an unfulfilled desire and is financially able and willing to satisfy that desire.
Market segmentation The division of a total market into smaller, more specific groups.
Mass marketing Designing products and directing marketing activities to appeal to the whole market.
Psychographic segmentation The division of a market on the basis of customers' lifestyles and personalities.
Target market The particular group of customers a business seeks to attract.
Market segment One of the groups into which the total market is divided.
Created by: jwolper99
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