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Stack #4593440
| Question | Answer |
|---|---|
| marketing | figuring out what the consumers want |
| target market | the consumers who buy your product |
| niche market | a small group of people with very different needs to the main market e.g gluten free |
| market Research | researching there consumers needs and what's to see what the need to sell and how much |
| Desk Research | researching and using info that's already available |
| Field Research | 1. surveys/questionnaires given to people 2. test marketing asking people to test a product before the firm invests in new equipment 3. direct observation wating people go out on there day to day business |
| sample | Instead, people who want to research a market in business will select a smaller group to take part in the survey. |
| marketing mix | price , place , promotion , product |
| channels of distribution | 1. manufacturer consumer 2. manufacturer retailer consumer 3. manufacturer whole sale retailer consumer 4. manufacturer www consumer |
| advertising | is the communication of information about a product or service to the consumer – on television, on radio, in magazines, on the internet, on social media platforms, in the newspaper and on billboards around cities and towns. |
| sponsorship | a firm or individual pays money to have their name or products associated with a major event, a famous person or a particular place |
| product life cycle | A product life cycle shows how the demand for a product changes over time. (introduction, growth, maturity, decline) |
| usp | unique selling point |
Created by:
TCarolan24