Shared Flashcard Set

Details

Important Definition
N/A
14
Business
7th Grade
04/15/2013

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Cards

Term
Target Market
Definition
A limited number of customers who are most likely to buy the product or service.
Term
market segment
Definition
Grouping of customers within a partiular market that has one or more things in common.
Term
Demographics
Definition
Objective social and economic facts about people.
Term
Geographics
Definition
Data involving the location of the customer.
Term
Psychographics
Definition
Pyschological characteristics, attitudes, beliefs, and interests.
Term
Buying Patterns
Definition
Customer behavior in purchasing the product or sevice.
Term
Marketing
Definition
A way of presenting a business to its customer that clearly communicates the value of the product or service.
Term
Market Plan
Definition
A detailed guide that includes marketing goals and the strategies to reach these goals, called me marking mix.
Term
Marketing Mix
Definition
the fuive main strategy areas that a business may use in its marketing plan.
Term
People
Definition
The target customer and people involved in marketing strategies .
Term
Product
Definition
Description of what the product or service has offer.
Term
Place
Definition
Selling and/or delivery methos and where it will be sold.
Term
Price
Definition
Determination of a price that the target market will find reasonable.
Term
Promotion
Definition
Process to make potential customers aware of the product or service.
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