Marketing refers to all the tasks involved in getting a product or service from the manufacturer to the consumer.

They are called the target market because these are the people who should be targeted when advertising and promoting the product.

A niche market is a small group of people with very different needs to the main market.

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

Field research involves going out into the market and making direct contact with people in order to find out the information you need.

Desk research means researching and using information that is already available.

divide up your market to ensure that you target only those who are likely to purchase your product or service – your target market. This is called market segmentation.

instead, people who want to research a market in business will select a smaller group to take part in the survey. This group is known as a sample.

All of the elements that form part of marketing are referred to as the marketing mix.

channels of distribution

The different ways of getting finished products or services from the producer to the consumer are called channels of distribution.

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 is where a firm pays money to have their name or products associated with a major event (e.g. FA Cup),

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

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marketing

Term	Definition
marketing	Marketing refers to all the tasks involved in getting a product or service from the manufacturer to the consumer.
target market	They are called the target market because these are the people who should be targeted when advertising and promoting the product.
niche market	A niche market is a small group of people with very different needs to the main market.
market research	Market research involves asking potential customers for information that can then be used to make business decisions.
desk research	Field research involves going out into the market and making direct contact with people in order to find out the information you need.
field research	Desk research means researching and using information that is already available.
market segmentation	divide up your market to ensure that you target only those who are likely to purchase your product or service – your target market. This is called market segmentation.
sample	instead, people who want to research a market in business will select a smaller group to take part in the survey. This group is known as a sample.
marketing mix	All of the elements that form part of marketing are referred to as the marketing mix.
channels of distribution	The different ways of getting finished products or services from the producer to the consumer are called channels of distribution.
advertising	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	sponsorship is where a firm pays money to have their name or products associated with a major event (e.g. FA Cup),
usp	unique, selling, point
product life cycle	A product life cycle shows how the demand for a product changes over time.

Created by: Achetan24

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