Marketing & Advertising Review Flashcards
A group of people identified as those most likely to become customers that have similar wants and needs.
Target Market
The public promotion of something such as a product, service, business, or event, to attract or increase interest.
Advertising
Measurable characteristics that describe a population by age, gender, income, ethnic background, education, and occupation.
Demographics
A group of people or companies who have a demand for a product or service and are willing and able to buy it.
Market
the collection and analysis of information aimed at understanding the behavior of consumers in a certain market.
Market Research
the 4 strategies used to reach a target market: product, place, price and promotion.
Marketing Mix
A researched plan used by a business to shape its product, place, price and promotion to reach it’s target market.
Marketing Plan
The process of getting goods and services to customers is called
Distribution
Getting the money that is necessary for setting up and running a business is called
Financing
Deciding how much to charge for a product or service so that a business can make a profit is called
Pricing
Any effort to inform, persuade, or remind potential customers about a business’s products or services is part of the ________ function
Promotion
The ___________ point is the pint at which total revenues, or sales, equal total costs and expenses of developing and offering a product
Break-Even
A prototype is a ____________ of the actual product.
Model
A medium is a _________ or system of communication.
Channel
Slogan, Repetition, Expert Opinion, Bandwagon, Testimonial, Appeals to Emotion, Expert Opinion
Persuasive Techniques
