Basics of Marketing

Front

A specific group of consumers that an organization selects as the focus of its marketing plan.

Back

target market

Front

Tangible goods, such as a baseball, or a cellphone.

Back

product

Front

The process of developing, promoting, and distributing goods and services to satisfy customer’s needs and wants.

Back

marketing

Front

Studies of consumers based on social and psychological characteristics, such as attitudes, interests, and opinions.

Back

psychographics

Front

Potential customers with shared needs who have the desire and ability to buy a product.

Back

market

Front

Things that people desire based on personality, experiences, or information about a product.

Back

wants

Front

Basic necessities such as food, clothing, shelter.

Back

needs

Front

Intangible goods, such as a movie ticket or an insurance company.

Back

services

Front

Statistics that describe a population in terms of personal characteristics, such as income, age, and occupation.

Back

demographics

Front

A combination of four basic marketing strategies: product, place, price, promotion.

Back

marketing mix