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Marketing Concepts

TermDefinition
Marketing The activity, set of institutions, process for creating, communicating, delivering, or exchanging with others.
Marketing Mix The mix of controllable marketing variables that the firm uses to pursue the desired level of sales to the target market.
Functions of Marketing Distribution, financing, Marketing information management, pricing, product/service management, promotion, and selling.
Situation Analysis Systematic collection and study of past and present trends for future reference.
Marketing Concept The idea you must satisfy a customer in order to make a profit.
Customer Actual or perspective buyer of products or services.
Target Market Particular segment of population in which business focuses.
Market Segmentation Subdividing the market into sorting by how they act.
Demographic Study of characteristics of human population.
Geographic Market segmentation based on where the target market lives.
Psychographic Dividing markets into based on their lifestyle or behavior.
Created by: csouther9082
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