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13 Cards in this Set
- Front
- Back
marketing oriented
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idea that to make a profit a business must focus all of its efforts on satisfying the needs and wants of its customers.
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geographics
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segmentation of a market based on where people live
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product benefits
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You are helping customers understand WHY this product will improve their lives.
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customer profile
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picture of a prospective customers based on geographics, demographic, and psychographics
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market segmentation
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dividing the total market into smaller groups of people who have specific needs and characteristics
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target marketing
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focusing all marketing decisions on the specific group of people you want to reach
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mass-marketing
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using a single marketing plan to reach all of the customers
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market:
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the group of all potential customers who share common needs and wants, and who have the ability and willingness to buy the product
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customers
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those who buy a product
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value
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personal satisfaction gained from use of a good or bad service
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psychographics
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study of consumers based on their lifestyles, and attitudes and values that shape it
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marketing mix
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combination of marketing decisions involving products, price, place, and promotion also called the Four P's
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positioning
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getting consumers to think of a product in a certain way
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