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Business of sports

Chapter 1(1-4)

QuestionAnswer
What does Marketing mean? The creation and maintenance of satisfying exchange relationship.
What is the goal of Marketing? Market share.
What are the 4 P's in marketing? product, pricing, promotion, placement.
why have a target market? focuses on the target market, making it easier to develop products that people want.
can people belong to more than one segment? yes
how can market segmentation data can improve business decision making? customer income level. level of interest in product or service. number of potential customers.
6 functions of marketing? marketing info management pricing product service management Pomotion Selling Distribution
what does marketing info management mean? Gathering and using info about customers to improve business decision making.
what does selling mean? Any direct and personal communication with customers to assess and satisfy their needs.
What are the 2 market strategy? indentify target market create marketing mix.
Created by: Alanysse
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