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8 terms

Chapter 13

STUDY
PLAY
Market
Group of customers who share common wants and needs, and have the ability to purchase the product
Marketing
Process of creating, promoting, and presenting a product to meet customers wants/needs
Marketing Concept
A business knowing its customers wants/needs
Target Marketing
Detailed research on markets to find and analyze potential customers in their market
Relationship Marketing
Strategy to build customer relations
Marketing Mix
Four elements of marketing: product, place, price, promotion
Demographics
Facts about the population in terms of a gender, location, income, and education
Retailer
Sells goods directly to the customer