Marketing Chapter 1+2
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study of internal and external factors that affect marketing stratigies
identifies target markets and sets marketing mix choices that focus on those markets
the projection of probable future sales in units or dollars
an expectation for performance that reflects the plan's objectives
the process of classifying people who form a given market into even smaller groups
people with different personal characteristics have different needs and interests
the money left after taking out taxes
income remaining after deduction of taxes, other mandatory charges and expenditure on necessary items.
people's needs vary depending on where they live
lifestyle has an impact on how money is spent
using a single marketing strategy to reach all customer
seven core marketing core functions
- channel management
- market planning
- marketing information
- product/service management
marketing concept says...
a business should strive to satisfy customers needs while generating a profit for the firm.
a companies percentage of the total sales volume in a given composite market
consumer and organizational market
consumers purchase goods and services for personal use and products for the use in their operations.
In a market there is...
- market share
- customer profiles
- market segment
- target markets
effective marketing strategy
- identifies target market
- sets marketing mix choices
- takes the consumers needs and wants
- takes the objectives of the marketing plan
- competitive advantage
Evaluating the State of the Economy
- unemployment rate
- retail sales figure
- exchange rates
- consumer confidence
- time framed
What would you like to do?
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