Marketing Concepts

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Marketing

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Consists of dynamic activities that identify, anticipate, and satisfy customer demand while making a profit.

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Marketing Concepts

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An approach to business that focuses on satisfying customers as the means of achieving profit goals.

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Product

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Anything that can be bought or sold.

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Price

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The amount of money requested or exchanged for a product.

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Place

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Includes activities involved in getting goods and services to customers.

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Promotion

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The process of communicating with potential customers to influence their buying behavior.

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Target Market

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The specific group of customers whose needs a company will focus on satisfying.

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Marketing Strategy

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The plan that helps a business meet its overall goals and objectives.

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Marketing Plan

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A document describing business and marketing objectives and the strategies and tactics to achieve them.

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Market Segmentation

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The process of dividing the market into smaller groups.