Unit 3 - Marketing Flashcards
1
Q
What is marketing
A
The process responsible for identifying, anticipating and satisfying customer requirements profitably
2
Q
What is a market
A
Where buyers and sellers transact
3
Q
Internal Influences on marketing decisions
A
Planned growth
Finance available
Product development
4
Q
External influences on marketing decisions
A
Changing trends in society
Economic changes
Competitors actions
5
Q
What is market size
A
The number of customers, the revenue or units sold within a market
6
Q
What is market growth
A
How the market size of a market changes over time
7
Q
A
