How much marketing?
For a customer to be part of a market, these three things are required
Ready
Willing
Able
This type of segmentation is dividing a market on the basis of its physical and social
characteristics
Demographic
Channels of distribution benefits customers by
Providing a wide variety of products
This is the most common consumer channel
p-w-r-c
This is the most common industrial channel
P-IU
This is a particular group of customers the business seeks to attract
Target Market
These are 3 specific forms of demographic segmentation
gender
origin or heritage
religion
socioeconomic status
life stage
This is where channels begin and end
Producer
Consumer or user
This is the difference between a retailer and a wholesaler
Wholesalers sell to other businesses
Retailers sell to customers
This is the difference between an industrial distributor and a wholesaler
Distributors sell to businesses that will use the product in their business
wholesalers sell to businesses who will resell the products
This is how many markets a customer can belong to
More than one
This is how we divide a market with geographic segmentation
Where the customer lives
Consumers
A business will use this type of intermediary when they do not want to be responsible for doing the selling themselves
An agent
The prices of products would be ________ if a producer uses an agent to sell to users
High
This is designing products and directing marketing activities to appeal to the whole market
Mass Marketing
This is dividing a market on the basis of consumers’ response to a
product
Behavioral Segmentation
Buys products/services to use in their business
Industrial User
This is the benefit to the producer for selling to wholesalers
Wholesalers buy large quantities and sell smaller quantities to retailers, therefore producers are able to sell larger quantities to one business
These are the intermediaries for industrial channels
Agent
Industrial Distributor
This takes place when marketers divide the market into smaller groups to target each group individually
Segment Marketing
This is the division of a market on the basis of consumers’ lifestyles and personalities
Psychographic segmentation
One of the 3 ways intermediaries enable producers to match the needs and wants of customers
Buy big, sell small
Develop and assortment of goods
Transport and store goods
This size retailer would likely buy directly from a producer rather than a wholesaler
Large business
These are the benefits to Producers and Users of having a distributor
Producers are able to sell larger quantities
Users can go to one place to find an assortment of goods that they need for their business