Fundamentals of Marketing

the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large

• marketing
• business
• operations
• management

mix of variables marketers control to influence a business’ success; the four Ps: price, product, place, promotion

• Marketing plan
• Marketing mix
• Marketing papers
• Marketing orgainzation

document which outlines a business's marketing problems and how they will be addressed and solved

• Marketing mix
• Marketing papers
• Marketing plan
• Operations plan

marketing aimed at the masses without consideration of differences among them

• marketing mix
• market research
• market segmentation
• mass marketing

division of the mass market based on shared characteristics

• market segmentation
• mass market
• market plan
• primary market

specific group for which a business's products, services and marketing efforts are intended

• target market
• mass market
• primary market
• secondary market

Market research: organized effort to gather and interpret information about a market

• True
• False

past research which has already been performed and often already published

• primary research
• secondary research

research done firsthand for the first time

• primary research
• secondary research

exploratory, in-depth research involving flexible, open-ended questions; 
includes: interviews, observation and focus groups

• qualitative research
• quantitative research