Marketing

Front

What is market segmentation?

Back

Market segmentation is the division of a market into distinct groups of buyers with different needs, characteristics, or behaviors.

Front

Name the four main types of market segmentation.

Back

Demographic, Geographic, Psychographic, Behavioral

Front

What are the components of the marketing mix?

Back

Product, Price, Place, Promotion

Front

Define the term 'marketing environment'.

Back

The marketing environment is the internal, external factors and conditions that influence a company's marketing activities and strategies.

Front

List the different types of markets.

Back

Consumer and Industrial Market

Front

What is the difference between a consumer market and a business market?

Back

The consumer market targets individuals for personal consumption, whereas the business market targets organizations for operational or resale purposes.

Front

What are the different types of products?

Back

Consumer goods and industrial goods

Front

Define durable goods and provide examples.

Back

Durable goods are items like cars, refrigerators, and furniture.

Front

What are non-durable goods?

Back

Non-durable goods are items that are consumed or used up quickly, such as food and toiletries.

Front

What is the importance of understanding the marketing environment?

Back

It is crucial for adapting strategies and making informed decisions.