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marketing

TermDefinition
marketing the activity, set of institutions, and processes for creating, communicating, dilivering, and exchanging offferings that have value for customers, clients, partners, and society at large
goods tangieble items that have monetary value and sastisfy your needs and wants
services intangiable items that have monetary value and satisfy your needs and wants
marketing concept the idea that a business should strive to satisfy costumers needs and wants while generating a profit for business
utility an added value in economic terms; an attribute of goods or services that makes them capable of saisfying coustomers wants and needs
market all people who share similar wants and needs and who have the ability to purchase a given product
consumer market consumers who purchase goods and services for personal use
organizational market also known as buisness to business (b2b), this includes all business that buy products for use in thier operations
market share a company's percentage of the total sales volume generated by all companies that compete in a given market
market segmentation the process of classifying people who form a given market into even smaller groups
target market the group of people most likely to become customers, identified for a specific marketing program
customer profile information about the target market,such as age, gender, income level, marital status, ethnic background,geographic residence,attitudes,lifestyle,and behavior
marketing mix the four basic marketing stratigies called the four p's: product, place, price, and promotion
demographic segmentation market segmentation based on your target markets personal characteristics
pshycographic segmentation market segmentation based off you target markets lifestyle and persionality characteristics
geographic segmentation market segmentation based on where your target market lives
behavioral segmentation market segmentaion based on benifets your target market expects to recive or gain from products
Created by: cherry,m
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