Fundamentals of marketing Vocabulary
the activity, set of institutions, and processes for creating, communication, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
What is Marketing
marketing aimed at the masses without consideration of differences among them
What is Mass Marketing
ability to motivate people to accomplish a better result for an organization
What is Leadership
style of speaking or behaving
What is Mannerisms
materials derived from natural resources
What are Raw Goods
document which outlines a business's marketing problems and how they will be addressed and solved
What is Marketing Plan
specific group for which a business's products, services and marketing efforts are intended
What is Target market
ability to plan and execute control over the amount of time spent on specific activities to effectively accomplish goals in a timely manner
What is Time Managment
specific style of behavior in the workplace
What is Professionalism
businesses which change raw goods into a more finished form, known as processed goods
What are processors
Mix of variables marketers' control to influence a business' success; the four Ps: price, product, place, promotion
What is Marketing Mix
past research which has already been performed and often already published
What is Secondary Research
requires gathering reliable information, assessing the information for answers and selecting a suitable solution based on the situation
What is Problem Solving
working effectively and efficiently with others
What is Teamwork
businesses which develop products for distribution from raw goods
What are Producers
organized effort to gather and interpret information about a market
What is Market Research
division of the mass market based on shared characteristics
What is Market Segmentation
required for professional advancement; consists of the desire and ability for life -long learning
What is Academic Preparation
being able to evaluate arguments and information quickly, solve problems creatively and identify mistakes with efficiency
What is Critical Thinking
businesses which provide services to consumers and other businesses
What are Service Firms
exploratory, in-depth research involving flexible, open-ended questions; includes: interviews, observation and focus groups
What is Qualitative Research
research done firsthand for the first time
What is Primary Research
values or standards which direct the way individuals interact with others
What is Ethical Behaviors
positive work behaviors and personal qualities which make individuals more likely to gain employment and succeed in their chosen career
What is Employability
department responsible for maintaining the employment process, training and developing staff and following laws and proper procedures
What are Human Resources