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Marketing Concepts
Term | Definition |
---|---|
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. |