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TermDefinition
PSM (Product/Service management) making products/services available to meet wants/needs of customers
Marketing plan used by a business to guide it's marketing process to a desired conclusion
Marketing mix A mix of the 4 P's of marketing
Marketing segmentation dividing entire market into smaller groups who share similar characteristics
Goal An objective you plan to fulfill
4 P's of marketing Promotion , Price , Place , Product
Market group of potential customers who have similar want/needs and have ability to buy product
Agents Do not take ownership but instead represent a business and assist in the sales transaction
Selling Finalizing exchange
Customer buys product/service but does not consume it
Consumer may or may not buy a product/service but consumes it
Marketing Concept A philosophy that drives the decision making process
SWOT analysis reviews potential for success or failure of a business of product
Promotion Communicate info about products/services to potential customers
MIM(Marketing information management) provide info in a useful format for business decisions
Roles of marketing create awareness, access to products/services, multiple channels
Tactics specific actions used to carry out strategies
Strategy A plan of action for achieving your goal
Consumer market personal use
Industrial market business use
Popular Marketing sets

 

 



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