Intro to business Chapter 13

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  1. A small group of people who meet under the direction of a discussion leader to communicate their opinions about an organization, its products, or other given issues.
    focus group
  2. Developing products and promotions to please large groups of people.
    mass marketing
  3. The analysis of markets to determine opportunities and challenges and to find the information needed to make good decisions.
    marketing research
  4. The process of learning as much as possible about customers and doing everything you can to satisfy them - or even exceed their expectations - with goods and services.
    customer relationship management (CRM)
  5. A three part business philosophy: (1) a customer orientation, (2) a service orientation, and (3) a profit orientation.
    marketing concept
  6. Marketing directed toward those groups (market segments) an organization decides it can serve profitably.
    target marketing
  7. Developing a unique mix of goods and services for each individual customer.
    one to one marketing
  8. marketing strategy with the goal of keeping individual customers over time by offering them products that exactly meet their requirements.
    relationship marketing
  9. Dividing the market using the groups values, attitudes, and interests.
    psychographic segmentation
  10. Any physical good, service, or idea that satisfies a want or need plus anything that would enhance the product in the eye of the consumers, such as the brand.
  11. The process of finding small but profitable market segments and designing or finding products for them.
    niche marketing
  12. The process of dividing the total market into groups whose members have similar charcteristics.
    market segmentation
  13. A word, letter, or group of words or letters that differentiates one sellers goods and services from those of competitors.
    brand name
  14. The process of testing products among potential users.
    test marketing
  15. The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings taht have value for customers, clients, partners, and society at large.
  16. Data that you gathered yourself (not from secondary sources).
    primary data
  17. The process of identifying the factors that can affect marketing success.
    environmental scanning
  18. The ingredients that go into a marketing program: product, price, place, and promotion.
    marketing mix
  19. Dividing a market by cities, counties, states, or regions.
    geographic segmentation
  20. Dividing the market by usage.
    volume segmentation
  21. All the techniques sellers use to inform people about and motivate them to buy their products or services.
  22. Dividing the market by age, income, and education level.
    demographic segmentation
  23. Information that has already been compiled by others and published in journals and books or made available online.
    secondary data
  24. Dividing the market by determing which benefits of the product to talk about.
    benefit segmentation
  25. All the individuals and organizations that want goods and services to use in producing other goods and services or to sell, rent, or supply goods to others.
    business to business market (B2B)
  26. All the individuals or households that want goods and services for personel consumption or use.
    consumer market
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Intro to business Chapter 13
2011-12-11 00:55:37
Chapter 13

Chapter 13
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