Marketing is all the tasks involved in getting a product or service from the manufactorer to the consumer.

A target market is a group of people who are most likely to want to buy a particular product or service.

A niche market is a small group of people with specific needs.

Market research involves asking potential customers for information that can then be used to make busniess decisions.

Desk research is collecting market infromation from existing sources like reports, articles, online document, libraries and government data.

field research involves going out and asking members of the public questions about a product or sservice in order to find out the information that is needed.

Market segmentagtion is the process of dividng the total consumer market into smaller groups, called segments based on somefthing they have in common.

A sample is a smalll representitive section of a market that you carry out market research on. Sample are used becauses it is too costly and time consuming to survey everyone.

The marleting mix is all of the elements that form part of marketing are referred to as the marketing mix- The marketingm mix for a product or service can be broken down into four main areas known as the four Ps: Product, Price, Place and promotion.

Channels of distributuion

Channels of dristribution are different ways of getting finished products or services from the producer to the consu7mer are called channels of drisutbution.

Advertising is the communication of information about a product or service to the consumer- on television, on radia, in magazines, one the internet, on social media platforms, in the newspaper and on billboards around cities and towns.

Sponsership is where a firm or individual pays money to have their name or products associated with a majpor event, a famous person or a particualr place.

A product life shows how the demand for a product changes over time.

USP- Unique Selling Point

A unique selling point is what sets a firms product apart from those of its competitors, this could be a lower price, unique features or a better after-sales or customer care element.

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Marketing

Term	Definition
Marketing	Marketing is all the tasks involved in getting a product or service from the manufactorer to the consumer.
Target market	A target market is a group of people who are most likely to want to buy a particular product or service.
Niche market	A niche market is a small group of people with specific needs.
Market research	Market research involves asking potential customers for information that can then be used to make busniess decisions.
desk research	Desk research is collecting market infromation from existing sources like reports, articles, online document, libraries and government data.
field research	field research involves going out and asking members of the public questions about a product or sservice in order to find out the information that is needed.
Market segmentation	Market segmentagtion is the process of dividng the total consumer market into smaller groups, called segments based on somefthing they have in common.
Sample	A sample is a smalll representitive section of a market that you carry out market research on. Sample are used becauses it is too costly and time consuming to survey everyone.
Marketing mix	The marleting mix is all of the elements that form part of marketing are referred to as the marketing mix- The marketingm mix for a product or service can be broken down into four main areas known as the four Ps: Product, Price, Place and promotion.
Channels of distributuion	Channels of dristribution are different ways of getting finished products or services from the producer to the consu7mer are called channels of drisutbution.
Advertising	Advertising is the communication of information about a product or service to the consumer- on television, on radia, in magazines, one the internet, on social media platforms, in the newspaper and on billboards around cities and towns.
Sponsership	Sponsership is where a firm or individual pays money to have their name or products associated with a majpor event, a famous person or a particualr place.
Product life cycle	A product life shows how the demand for a product changes over time.
USP- Unique Selling Point	A unique selling point is what sets a firms product apart from those of its competitors, this could be a lower price, unique features or a better after-sales or customer care element.

Created by: RBoshoff24

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