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Marketing Concepts

TermDefinition
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.
Created by: ellabk
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