Marketing Concepts
Person who uses the product
What is a Consumer?
The exchange rate used to purchase products or services
What is Price?
Promoting and selling products or services
What is Marketing?
Babies born between 1946-1964; aging population; are of interest to companies promoting products related to aging populations
Who is Sean Wilkins?
Using channels to get products to consumers
What is Distribution?
Tangible items which possess a monetary value
What are Goods?
Series of organized activities working towards a particular goal
What is a Campaign?
Babies born between 1965-1977; children of dual-careered parental homes and rising divorce rates; media savvy; big spenders in cosmetics, electronics, clothing and entertainment; reached through sharp images music and humor
What is Generation X?
Similar group of consumers responding to the same marketing mix
What are Market Segments?
Refers to decisions about advertising, personal selling, sales promotions, etc.
What is Promotion?
Promoting the sale of goods
What is Merchandising
Babies born between 1977-1997; children growing up in computer-dense environment; comfortable with computers; are attractive to marketers for building lasting consumer loyalty
What is Generation Y?
Developing, improving and maintaining a product mix
What is Product/Service Management?
Obtain goods from a manufacturer or wholesaler to sale to the final consumer
Who are Retailers?
Providing awareness of something
What is Promotion?
Generation of people born between 1997 and 2012. They are the first generation to grow up with the internet as a part of daily life. Comes after Millennials and before Generation Alpha. They are digitally native and make up a significant portion of the U.S. population.
What is Generation Z?
Aggregating process which clusters people with similar needs into market segments
What is Segmentation?
Obtain goods from the manufacturer and resell them to an industrial user or retailer
Who are Wholesalers?
Act of calling public attention to a product or service
What is Advertising?
The term refers to the generation of people born (or who will be born) between 2010 and 2025. Some researchers consider slightly different ranges. The term was introduced by Australian social researcher Mark McCrindle in a 2008 report on the subject. Generation Alpha is also known as the “digital natives”.
What is Generation Alpha?
Wears shirts with metal bands on them
Who is Lucas Santos?