Intro to Business - Ch. 13 Vocabulary Frayer Model Processing

Product, place, price, and promotion, collectively known as the four P's is called the

• supply and demand 
• marketing mix 
• market segmentation 
• revolution 

This is the study of population in terms of age, gender, income and education

• market

• demographic

  segmentation

• market research

• retailer

Consists of gathering and studying data about the buying habits of consumers

• target market

• marketing mix

• direct distribution

• market research

Detailed research that companies do on markets (like senior citizens) to find and analyze potential customers in their market, is called what?

• marketing concept

• market awareness

• relationship marketing

• target marketing

_______________ is the process of creating, promoting , and presenting a product or service to meet the wants and needs of consumers, wherever they are.

• Market

• Distribution

• Marketing

• Entreprenuer

Any effort to inform, persuade, or remind potential customers about a business's products or services is known as:____________________________.

• Product service management

• Pricing

• Promotion

• Relationship marketing

__________________ is the division of a market for a product into groups of customers who have the same needs and traits.

• Market segementation

• Target marketing

• Marketing concept

• Market research

Affiliate marketing allows a website owner to make money by sending his/her customer to another site.

• True

• False

What is customer relationship management (CRM)?

• All the individuals or households that want goods and services for personal consumption or use.

• The activities buyers and sellers perform to facilitate mutually satisfying exchanges.

• The activity set of institutions (established practice), and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

• The process of learning as much as possible about customers and doing everything you can to satisfy them - or even exceed their expectations - with goods and services.

What is marketing research?

• All the individuals or households that want goods and services for personal consumption or use.

• The activities buyers and sellers perform to facilitate mutually satisfying exchanges.

• The activity set of institutions (established practice), and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

• The analysis of markets to determine opportunities and challenges, and to find the information needed to make good decisions.