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marketing chapter
| Question | Answer |
|---|---|
| marketing | activity, set of institutions, processing for creating, communicating,. |
| marketing plan | written document that shows certain marketing activities that take place to achieve organization ideas |
| focus group | a group usually consisting of 8 to 10 potential customers, that business focus on |
| geographic segmentation | markets based on location |
| behavioral segmentation | markets based on consumers behavior |
| Business to Business (B2B) | business buy goods from other business |
| Business to Consumer (B2C) | individuals buy goods/services from business |
| consumer behavior | refers to individuals consumers behavior to evaluate, purchase. |
| psychographic segmentation | markets based of peoples lifestyles, personality, motives, and values |
| demographic segmentation | process of determining a market by age, race, religion, gender, ethic background |
| market segment | a subgroup of potential costumers. |
| secondary data | data that has been collected and already processed |
| primary data | raw data collected by a researcher |
| promotion | consists of many methods used to inform customers about a product to persuade customers |
| environmental scanning | process of surveying marketing environment threats and opportunities |
| value | the product's value to the customer |
| marketing concept | activity set of institutions process for creating and delivering |
| customer relationship management | process of creating a good long term customer relationship |
| forum utility | when they use raw materials to form a product |
| marketing mix | combination of controllable elements in a product design |
| product | provides value for the customer |
| pace (distribution) | main component of the marketing mix |
| task utility | someone performs service for someone else |
| time utility | business makes a product available for a certain time frame |
| place utility | when a product can be purchased at a place |
| ownership utility | when a store sells a product to a customer |
| target market | certain group of customers where marketers focus on |
| market research | process of gathering and analyzing marketing decisions |
| marketing environment | firm operates beyond it's control consisting its ability to manipulate the marketing mix |
| marketing objective | a clearly stated goal achieved though marketing activities |
| niche markets | more narrowly defined |
| market segmentation | process of separating boarder markets into smaller market segments |
| positioning | process of creating unique marketing mix that best fits the target market |
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