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marketing concepts

TermDefinition
Marketing the activity, set of institutions and process for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners, and society at large.
Marketing Mix mix of controllable marketing variables that are used to pursue the desired level of sales in the target market. The most common classification of these factors is the "Four P's" which is price, product, promotion, and place.
Functions Of Marketing distribution, financing, marketing information management, pricing, product/service management, promotion and selling.
Situation Analysis collection and study of past and present data to identify trends, forces and conditions with the potential to influence the performance of the business and the choice of strategy. Foundation of strategic planning process.
Marketing Concept the idea that you must satisfy a customer's needs and wants in order to make a profit.
Customer the 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 sub market in order to accomplish its profit objectives.
Market Segmentation process of subdividing a market into distinct subsets of customers that behave in the same way and have similar needs.
Demographic study of total size, sex, territorial distribution, age, composition and other characteristics of human populations the analysis of changes in the make-up of a population.
Geographic market segmentation based on where your target market lives. Includes local markets, regional markets, national markets and global markets.
Psychographic process of dividing markets into segments on the basis of consumer life styles, attitudes, behavior and drives.
Created by: abyers1804
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