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marketing concepts

TermDefinition
marketing activity set of institutions and processes for creating, communication, delivering, and exchanging offerings that have value for customers
marketing mix mix of controllable marketing variables that the firm uses to pursue the desired levels of sales in the target market
functions of marketing functions: distribution, financing, marketing information, pricing, promotion and selling
situation analysis collection and study of past and present data to identify trends, forcess, and conditions
marketing concept idea that you must satisfy a customers needs and wants in order to make a profit
customer actual or prospective purchaser of products or services
target market particular segment of a total population on which a business focuses its expertise to satisfy that submarket in order to accomplish its profit objectives
market sementation process of subdividing a market into distinct subsets of customers
demographic study of total size, sex, teritorial distribution, age, composition, and other characteristics
geographic market segmentation based on where your target market lives
psychographic process of dividing markets into segments on the basis of consumer life styles, attitudes, behavior, and drives
Created by: hsawyers6741
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