Marketing Flashcards
what is marketing
marketing is the process planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives.
What is the basis of marketing
Finding out what the customer wants then attempt to satisfy their needs.
What is the marketing concept approach
A business philosophy that states that sections of the business are involved in satisfying a customers needs and wants while achieving the businesses objectives.
what is a target market
a group of present and potential customers to which a business intends to sell it’s product.
What is a primary target market
A segment in which most of the marketing resources are directed
What is a secondary target market
Usually a smaller and less important market segment
what are the four P’s
Product, price, promotion, and place
what does promotion refer to
methods used by a business to inform, persuade and remind customers about it’s product.
What does place refer to
Refers to channels of distribution.
