Foundations
Product, place, price and promotion.
What are the 4 Ps?
This factor identifies groups according to where they live.
What is geographics?
The process or act of resolving a dispute
What is arbitration?
a lack of feeling, emotion, or interest
What is apathy?
money for investment in a business
What is capital?
This 5th P is often considered the most important one.
What is people?
This factor segments groups of people based upon criteria such as age, occupation, ethnicity and gender.
What is/are demographics?
The action of damaging the good reputation of someone; slander or libel.
What is defamation?
general agreement among a group of people
What is consensus?
an online marketing strategy in which a business rewards individuals or other businesses (affiliates) for each visitor or customer the affiliate sends to its website
What is affiliate marketing?
The goal of every business is to do this.
What is to make a profit / make money?
This factor segments people according to lifestyle, attitudes and beliefs.
What is/are psychographics?
Secret or illegal cooperation or conspiracy, especially in order to cheat or deceive others.
What is collusion?
Ability to make decisions promptly and to announce them in clear, forceful manner.
What is decisiveness?
goods that last for a relatively long time, such as refrigerators, cars, and DVD players
This group of people are who marketers try to appeal to.
Who are/is the target market?
This type of target market is likely to buy a product, but might not necessarily use it themselves.
Who are customers?
An exclusive right granted by the federal government allowing the owner to reproduce and sell an artistic or published work.
What is copyright?
the principles of right and wrong that guide an individual in making decisions
What are ethics?
(level 1) Physiological Needs, (level 2) Safety and Security, (level 3) Relationships, Love and Affection, (level 4) Self Esteem, (level 5) Self Actualization
What are Maslow's Heirarchy of Needs?
The process of filtering markets into more specific groups of the people who are most likely to buy a product or service.
What is market segmentation?
People who purchase goods for personal use.
Who are consumers?
a wrongful act or an infringement of a right (other than under contract) leading to civil legal liability.
What is a tort?
The ability to understand, alter, lead, and control the behavior of other individuals and groups.
What are interpersonal communication skills?
an analysis of outside influences that may have an impact on an organization
What is an environmental scan?