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Marketing

TermDefinition
Marketing Everything involved in getting goods or services from the producer to the consumer at a profit
Target Market A group of people who are most likely to want to buy a particular product or service and will usually have something in common
Niche Market A small group of people with specific need, for example gluten-free foods.
Market Research Involves collecting information about a product or service and its market and then using that information to make business decisions
Desk Research Involves researching and using information that is already available
Field Research Involves going out into the market and making direct contact with people in order to find out the information you need.
Market Segmentation Dividing up your market to ensure that you target only those who are likely to purchase you product or service
sample A group of people you choose to be involved in the market research
marketing mix All the elements that form part of marketing
channels of distrubution different ways of getting finished products or services from the producer to the consumer
advertising the communication of information about a product or service to the consumer
sponsorship when a firm pays money to have their name or products associated with a major event.
Product Life Cycle Shows the demand for a product changes over time
USP unique selling point
Created by: MClarke24
 

 



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