Term
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Definition
| Developing,promoting and distributing products to satisfy customers needs. |
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Term
| What is the marketing concept? |
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Definition
| Businesses must satisfy customers needs and wants to make a profit. |
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Term
| What is market segmentation? |
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Definition
| Analyzing the market by specific characteristics. |
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Term
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Definition
| The specific group of people a business is trying to reach. |
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Term
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Definition
| Personal characteristics like age,gender,income, lifestyle. |
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Term
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Definition
| Social and psychological characteristice like attitudes,interests and opinions. |
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Term
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Definition
| Statistics about where people live like climate, urban/suburban. |
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Term
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Definition
| Grouping customers by how they respond to a product. |
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Term
| What is the purchase occasion? |
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Definition
| When will a customer use the product? such as for weekend wear, evening wear etc. |
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Term
| What is meany by product benefits? |
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Definition
| Characteristics of the product like stain resistance, type of fabric, that the customers want. |
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Term
| What does usage level and committment mean? |
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Definition
| How often a customer uses the product and how loyal they are to the product. |
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Term
| What is fashion merchandising? |
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Definition
| The planning,buying and selling of fashion products. |
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Term
| What is the marketing mix? |
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Definition
| How the 4 P's are combined to meet customer needs. |
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Term
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Definition
| Product, price,place and promotion. |
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Term
| What is meant by product? |
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Definition
| What a company is offering for sale. |
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Term
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Definition
| The amount of money consumers are willing to pay for the product. |
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Term
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Definition
| Where the product is sold. |
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Term
| What is meant by promotion? |
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Definition
| How the company communicates to customers- through advertising,publicity,etc. |
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Term
| What are the four types of promotion? |
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Definition
| Sales promotion, publicity/public relations, advertising and personal selling. |
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Term
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Definition
| Contests, displays of products in windows and coupons.these are all ways to bring customers into the store. |
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Term
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Definition
| News about a company in magazines,tv,newspapers,internet.Public relations ARE NOT PAID FOR by the company. |
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Term
| What is public relations? |
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Definition
| Activities that promote the image of a business like charity events and fashion shows |
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Term
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Definition
| A PAID message in newspapers,magazines,tv,radio,billboards,internet. |
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Term
| What is personal selling? |
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Definition
| When a sales person has contact with the customer. |
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Term
| What is the promotional mix? |
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Definition
| The way that a company puts together the types of promotion to make a promotional plan. |
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Term
| What are the three marketing strategies? |
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Definition
1.Increase the number of customers
2.Increase the average transaction
3.Increase the frequency of repurchase |
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Term
| What is a channel of distribution? |
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Definition
| The path the product takes from the producer to the consumer |
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Term
| What is the channel of distribution for clothing? |
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Definition
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Term
| What are the three parts of the chanel of distribution? |
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Definition
| The textile segment, the apparel segment and the retail segment. |
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Term
| What is included in the textile segment of distribution? |
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Definition
| Fiber,yarn and fabric production. |
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Term
| What is included in the apparel segment? |
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Definition
| Designing,making and selling the product (by wholesalers to retailers). |
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Term
| What is included in the retail segment? |
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Definition
| Stores who sell the product to customers. |
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Term
| What are the seven functions of marketing? |
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Definition
| Product management,distribution,financing,pricing,marketing information management,promotion,selling. |
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Term
| What is the product management function? |
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Definition
| Developing and improving products. |
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Term
| What is the distribution function? |
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Definition
| Tracking the movement of goods from production through selling. |
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Term
| What is the financing function? |
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Definition
| Getting the money to pay for a business and managing the expenses and profits of the business. |
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Term
| What is the pricing function? |
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Definition
| Deciding the prices of the products to earn the most profit. |
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Term
| What is marketing information management? |
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Definition
| Working with the information from marketing research. |
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Term
| What is the promotion function? |
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Definition
| Planning the promotions that a company will have. |
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Term
| What is the selling function? |
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Definition
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