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13 Cards in this Set
- Front
- Back
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Market |
All potential customers who are similar and are willing and able to buy or take part in your activity. |
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Mass Marketing |
Companies aim to appeal a whole market with one strategy. The idea is to broadcast a message that will reach the largest number of people possible |
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Market Segmentation |
A way of analyzing and separating your market by specific characteristics in order to create a customer profile. |
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Demographics |
Statistical elements that describe a market in terms of personal characteristics. |
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Geographic's |
Used to identify the market based on geographic location, terrain, population, and temperature. |
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Psychographic |
Study of consumers based on attitudes, interests/hobbies, opinions, demographic activity |
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Target Market |
The group who is most likely to buy, take part in, or use your good or service. |
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Utilities |
Reach your target market by adding value to your product with form, time, place, possession. |
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Marketing Mix |
A combination of four basic marketing strategies: product, price, place, promotion, also known as the four p's. |
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Product Decision |
Involves the goods, services, or ideas used to satisfy consumer needs. |
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Price Decision |
Involves the exchange process between the customer and the seller. |
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Place Decision |
Involves making the product available to the customer. |
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Promotion Decision |
Involve how the goods or services are communicated to the consumer. |
