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Marketing Concepts

TermDefinition
Marketing the study and management of exchange relationships.
Marketing Mix combination of factors that can be controlled by a company to influence consumers to purchase its products.
Functions of Marketing finding the money through investments, loans, or your personal capital to finance the creation and advertising of your goods or services.
Situation Analysis a collection of methods that managers use to analyze an organization's internal and external environment
Marketing Concept The satisfaction you must give to your customer's wants and needs in order to make a profit.
Customer The purchaser of products.
Target Market a particular group of consumers at which a product or service is aimed.
Market Segmentation dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers
Demographic the study of the characteristics of populations such as age, sex, gender, etc.
Geographic Market segmentation based on where the target market is.
Pyschographic qualitative methodology used to describe consumers on psychological attributes.
Created by: rlarsen8265
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