5A Flashcards
1
Q
Marketing
A
Is the process of implementing strategies to price, promote, and distribute products to current and potential customers.
2
Q
Customer base
A
Is a group of consumers who continuously purchase goods and services from a business.
3
Q
Business objectives
A
Are the goals a business intends to achieve.
4
Q
Customer Profile(Demographic)
A
-Age
-Gender
-Education
-Income level
-Marital status
5
Q
Customer Profile(Psychographic)
A
-Lifestyle
-Personality
-Attitudes
-Hobbies
-Interests
6
Q
Customer Profile(Geographic)
A
-Where the customer lives
-Where the customer shops
7
Q
Importance of 80/20 principle
A
80% of sales come from 20% of the customer base. Ensuring that a business’s marketing strategy focuses on retaining loyal customers
