Small Business 6.0

Front 1

A non-personal promotional message paid for by an identified sponsor utilizing media such as television, radio, magazines, newspapers, billboards, and direct mail.

Back 1

Advertising:

Front 2

Dividing markets by identifying common responses to products and product features.

Back 2

Behavioral segmentation:

Front 3

Dividing markets by characteristics people have in common.

Back 3

Demographic segmentation:

Front 4

Dividing markets by where customers are located

Back 4

Geographic segmentation:

Front 5

The group of potential customers who have similar needs and wants, sufficient buying power, and the willingness to give up a portion of that buying power in order to buy a product or service.

Back 5

Market:

Front 6

The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives

Back 6

Marketing:

Front 7

The philosophy that achieving organizational goals depends on determining the needs and wants of target markets and delivering the desired products/services more effectively and efficiently than competitors do.

Back 7

Marketing concept:

Front 8

The combination of the four strategies for product/service, price, place and promotion – the 4 Ps of marketing.

Back 8

Marketing Mix:

Front 9

The perceived standing of a business or a product in the minds of its customers as compared to the competition.

Back 9

Market position:

Front 10

The total amount of revenue that can potentially be generated in a specific industry or market

Back 10

Market potential:

Front 11

Assurance by the seller that the product is as it is represented to be or that it will be as it is promised to be.

Back 11

Warranty:

Front 12

Identifying market segments with the greatest potential for sales and focusing marketing decisions on satisfying the individuals that make up these segments.

Back 12

Target marketing:

Front 13

The group or groups of potential customers who have been identified as those most likely to patronize the business and/or buy the product

Back 13

Target market:

Front 14

: All promotional activities other than advertising, personal selling, publicity, and public relations designed to stimulate sales and sales effectiveness.

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Back 14

Sales promotion

Front 15

Information about a business or its products distributed through various media at no cost to the business and often not controlled by the business.

Back 15

Publicity:

Front 16

Activities designed to create a favorable image for the business, its products, or its policies.

Back 16

Public relations:

Front 17

Dividing markets by identifying common interests, attitudes, values, lifestyle, or personality traits among the individuals that constitute that market.

Back 17

Psychographic segmentation:

Front 18

Communication between a salesperson and a customer (or customers) intended to influence the customer’s buying decision.

Back 18

Personal selling:

Front 19

The percentage of the total sales revenue captured by a firm within a market or industry.

Back 19

Market share:

Front 20

Dividing the total market into smaller, well-defined groups with similar wants and needs and similar key characteristics.

Back 20

Market segmentation: