Chapter 13: Marketing in Today's World
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Created by:
Leoandam on December 5, 2011
Subjects:
Intro to Business and Entrepeneurship
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14 terms
Terms | Definitions |
|---|---|
 Market | A group of customers who share common wants and needs |
| Marketing | The process of creating, promoting, and presenting,a product to meet the wants and needs of consumers |
| Marketing Concept | A plan for how to market a product for consumers |
| Target Marketing | Finding and analyzing potential customers for a product |
| Relationship Marketing | Building customer loyalty through good customer relations |
| Marketing Mix | The four main elements of marketing, also known as the four Ps: Product, place, price, and promotion |
| Break-even Point | The amount of money a company has to make on a product to pay for the cast of producing it |
| Market Research | Gathering and studying information about the buying habits of consumers to determine what goods and services to produce |
| Demographics | Facts about the population in terms of age, gender, income, and education |
| Channel of Distibution | A particular means of directing products from producers to consumers , such as a wholesaler, or retailer |
| Direct Distribution | Selling goods and services direstly from producers to consumers without using intermediaries |
| Indirect Distribution | moving goods from producers to consumers, using direct intermediaries |
| Wholesaler | A type of business that buys goods in large amounts and resells them to other businesses in smaller lots |
| Retailer | A businesss that sells goods or services directly to the public |
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