Guess That Term
The creation and maintenance of satisfying exchange relationships.
Marketing
Purchase made by consumers with little thought.
Emotional purchase
The primary focus of marketing.
Satisfying customer needs
The amount that customers pay for products – goods or services.
Price
Shared characteristics of potential consumers such as marital status, gender, and education level.
Demographics
Involves some type of performance that people are willing to spend their money and spare time watching.
Entertainment
Point of sales at which all of the expenses are covered.
Breakeven point
A specific group of consumers a business wants to reach.
Target Market
The driving force behind the marketing concept.
Customers
Used when businesses are unable or unwilling to spend the time or money needed to conduct research and analyze data to identify market segments.
Mass marketing
Influencing how people choose to spend their time and money on entertainment.
Entertainment marketing
Purchases based on care thought and sound reasoning.
The process deciding where and how products will be made available to customers.
Place (or distribution)
The amount of money people have available to spend after paying for their necessities such as taxes, food, shelter, etc.
Discretionary income
Geographic segmenation
How a business blends the four marketing elements of product, price, place, and promotion.
Marketing mix
The value of the next best alternative that you pass up when making a choice.
Opportunity cost
Ways to make customers aware of products and encourage them to buy.
Promotion
All the consumers who will purchase a product or service.
Economic market
Focusing on information that can be measured such as age, income, profession, etc.
Demographic segmentation
An attempt to appeal to a large, general group of consumers
Mass market
Purchases based on consumer loyalty to a particular brand or product.
Patronage purchase
A focus on satisfying customer needs while making a profit.
Marketing concept
The rate at which companies produce goods or services in relation to the amount of materials and number of employees utilized.
Productivity
Group of consumers within a larger market who share one or more characteristics
Market segment