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14 Cards in this Set
- Front
- Back
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Market |
A group of customers who share common wants and needs. |
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Marketing |
the process of creating, promoting, and presenting a product or service to meet the wants and needs of consumers, wherever they are.
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Relationship Marketing
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to build and maintain relationships with their customers.
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Marketing Mix
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consists of four basic marketing strategies: product, place, price, and promotion, collectively known as the four P's. |
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Channel of Distribution
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a pathway to direct products to consumers.
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Direct Distribution
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occurs when goods or services are sold from the producer directly to he consumer.
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Indirect Distribution
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involves one or more intermediaries.
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Break-even point
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the point at which total revenues, or sales, equal costs and expenses of developing and offering a product or service..
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Market Research |
the gathering and analysis of information on the sixe, location, and makeup of a market.
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Marketing Concept
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involves determining the wants and needs of customers and providing the more efficiently and effectively than competitors.
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Demographics
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facts about the population. |
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Target Marketing
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helps companies focus on the people most likely to buy their goods and services. |
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Market Segmentation
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the division of a market for a product into groups of customers who have the same needs and traits. |
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Test-market
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a product means to offer it in a limited market for a limited time.
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