MP Unit 1 Test Review

Developing, promoting, and distributing products to satisfy customer needs and wants is...

• demographics

• marketing mix

• marketing

• pricing

focuses on two elements profit and satisfied customers

• target market

• marketing concept

• customer profile

• market segmentaton

the group of all of the potential customers or people who share similar wants and needs and who have the ability to purchase a given product

• consumer

• market

• customer profile

• buyer behavior

a combination of strategies used to market a product. Also called the 4Ps of marketing

• marketing mix

• marketing concept

• market segmentation

• market

the way the market is divided into smaller groups of potential customers

• selecting

• grouping

• market segmentation

• customer groups

statistics that describe a population in terms of personal characteristics such as ethinic background, age, income, education, gender, etc.

• demographics

• geographics

• buyer behavior

• psychographics

a division of the market based upon where people live

• psychographics

• buyer behavior

• geographics

• demographics

the process of deciding how to gets goods into the customers hands. Examples could include selling online, in the mail, or at the store

• distribution or channel management

• product placement

• pricing

• information management

involves collecting information/data about the customer in order to make business decisions

• product/service management

• channel management

• information management (marketing research)

• sampling

provides customers with goods and services they want

• selling

• customer service

• retailing

• marketing research