Role of Marketing Flashcards
Production Approach
Making and selling products with no input from consumers - “if we make it they will buy it” approach, where there is little market competition.
Selling approach
The use of sales representatives to sell to consumers where there is some competition in the market
Marketing approaches
The involvement of consumers in the marketing process
Types of markets: resource
The extraction of natural resources e.g farming and mining
Types of markets: Industrial
The manufacturing process
Types of markets: Intermediate
The use of retailers and wholesalers
Types of markets: Consumer
People who buy goods and services
Types of markets: Mass
Where products are sold to a wide target market
Types of markets: Niche
Where products are sold to a narrow target market
