key terms chapter 4

def: considered an essential part of the business

• market opportunities

• integrated

• market segments

• strategy

def: new markets and ways to improve a company's offerings in current markets

• target market

• market segments

• market opportunities

• market opportunity analysis

def: a plan that identifies how a company expects to achieve its goal

• non-business organization

• channel members

• decision

• strategy

def: groups of similar consumers within a larger market

• market segments

• target market

• channel members

• channel of distribution

def: studying and prioritizing market segments to locate the best potential based on demand and competition

• channel members

• market opportunity analysis

• decision

• market segments

def: a clearly defined segment of the market to which a business wants to appeal

• market opportunities

• channel members

• target market

• non-business organization

def: a choice among alternatives

• decision

• scarcity

• marketing mix

• economic utility

def: made up of all of the businesses involved in completing market activities as products move from the producer to the consumer

• profit motive

• channel members

• law of supply

• channel of distribution

def: the businesses used to provide many of the marketing functions during the distribution process.

• non-business organization

• social responsibility

• channel members

• marketing

a non-business organization has as its primary focus something other than providing products and services for a profit.

• true

• false