4.2 The Market Flashcards
1
Q
What is the importance of marketing?
A
- To satisfy the wants and needs of customers
- build good relationships with customers
- keeping loyalty
- market and product orientation
- market share and analysis
- niche and mass marketing
2
Q
What are changes that can happen in markets?
A
- Changing consumer needs
- changing incomes
- changing demographic
- increased competiton
- changing consumer spending patterns
3
Q
What is market segnmentation and the kinds?
A
Market segmentation is when the market is split by factors.
- Geographic Segmentation
- Demographic Segmentation
