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Marketing Concepts
Term | Definition |
---|---|
Marketing | The activity and society at large. |
Marketing Mix | Controllable marketing variables that the firm uses to pursue the desired level of sales. |
Functions of Marketing | Financing,marketing,information management, pricing/service management, promotion, and selling. |
Situation Analysis | Collection of past and present data. |
Marketing Concepts | You must satisfy a customers needs and wants in order to make a profit. |
Customer | The actual or prospective purchaser of products or services. |
Target Market | a total population on which a business focuses its expertise to satisfy that sub market. |
Market Segmentation | The process of subdividing a market into distinct subsets of a customer. |
Demographic | The total characteristics pf human populations. |
Geographic | Market segmentation based on where you target market lives. |
psychographic | The process of dividing markets into segments basis of customers life styles. |