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BUS101 Saylor Adcamy

Unit 1; 1.1; Section 3; Terms

TermDefinition
Market A group of potential customers for one's product.
Demand The desire to purchase goods or services, coupled with the power to do so, at a particular price.
Market Orientation A business approach that focuses activities and products on consumer demands.
Market Research Systematic collection and analysis of information to understand market needs and make business decisions.
Market Segmentation Division of the market into subgroups with similar motivations.
Transaction Exchange of goods or services for money.
Buyer A market participant who seeks to purchase goods or services.
Seller A market participant who offers goods or services in exchange for money.
Market Trends The upward or downward movement of a market during a given time.
Consumer-Driven Approach A strategy where consumer wants dictate all strategic marketing decisions.
Focus Group A small group used to probe opinions and reactions to products before launch.
Test Screening Previewing films prior to theatrical release to gather feedback.
Exit Survey Survey taken after viewing a film to measure audience reactions.
Tracking Study Study that tracks audience awareness of a product before and during release.
Advertising Testing Measuring reactions to marketing content like trailers or ads.
Concept Testing Evaluating audience reaction to a concept before full production.
Positioning Study Analysis of a product or script for potential marketing opportunities.
Marketing Effectiveness The measure of how well marketing strategies achieve business goals.
Created by: nutrient37
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