General Marketing
List the four P's of marketing
What is product, price, promotion, and place.
A specific group of consumers that have similar wants and needs.
What is Target Market?
This is the term for developing a target market based on where a customer lives.
What is Geographic.
List four phases in product life cycle
An organizations that links the producer and user within a marketing channel
What is marketing intermediary?
This marketing mix is considered to be the most flexible of the four.
What is price?
A plan that enables an organization to make the best use of its resources and advantages to meet its objectives.
What is marketing strategy?
This is the term for developing a target market based one consumer characteristics such as age, gender and race.
What is Demographics
A group of similar products that differ only in relatively minor characteristics.
What is product line?
Level of coverage that uses one a single retail outlet for a product in a large geographic area.
What exclusive distribution?
An assessment of the organization's strengths, weaknesses, opportunities, and threats.
What is SWOT analysis?
Target markets are important because no single product can meet everyone's_____________.
What is needs.
Describes consumers based on their interests and attitudes, opinions and lifestyle.
What is psycho-graphics
This is the phase of the new product development that provides the product to several cities or towns that are representative of the intended target market.
What is test marketing?
All activities concerned with the efficient movement if products from the producer to the ultimate user.
What is PD?
A process of systematically gathering, recording, and analyzing data concerning a particular marketing problem.
What is marketing research?
A group or individuals that have the ability, willingness, and authority to purchase products.
What is Market?
Disposable income less savings and expenditures on food, clothing, and housing.
What is Discretionary Income?
An amount a seller adds to the cost of a product to determine the basic selling price
What is a markup?
A coordination of promotion efforts to ensure maximum informational and persuasive impact on customers.
What's integrated marketing communications?
This generation grew up with the mentality that EVERYONE is a winner.
What is Generation Y, Millennials, iGen, Internet generation?
A process of dividing a market into segments that generally share one or two common characteristics.
What is Market Segmentation
List two types of buying behaviors
What is Consumer and Business buying behavior?
The strategy of charging the highest possible price for a product during the introduction stage of its life cycle.
What is price skimming?
Most important step, yet often omitted, in the personal selling process
What is follow up?