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14 Cards in this Set
- Front
- Back
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Marketing
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The process of developing, promoting, and distributing products to satisfy customers needs and wants
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Products
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2 Types: Goods - Tangible items, Services - intangible, tasks performed for you
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Customers
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Buy Products
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Consumers
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Use Products
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Market
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The group of all potential customers who share common needs and wants, and who have the ability and willingness to buy the product
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Mass Marketing
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Using a single marketing plan to reach ALL customers (products w/ UNIVERSAL appeal i.e water)
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Geographics
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Based on WHERE people live
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Psychographics
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Based on LIFESTYLE, ATTITUDE, VALUES, INTERESTS
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Demographics
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Based on statistics that describe population in terms of personal characteristics (AGE, GENDER, RACE, WEALTH)
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Target Marketing
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Focusing all marketing decisions on the specific group of people you want to reach
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Product
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what to make, when to make it, quality level, packing/label, how to make it. Anticipate present and future needs
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Place
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How you will GET a product from manufacturers to the market
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Price
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The amount a customer will be willing to pay and the marketer is willing to offer
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Promotion
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Activities designed to bring a company's goods and services to the favorable attention of a customer (ADVERTISING)
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