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BUSN-1010 Conroy 12

Chapter 12

QuestionAnswer
Business-to-Business Market AKA industrial/organizational market. Consists of those business individuals and organizations that want business goods and services that will help them produce or supply their own business goods and services.
Consumer Market Consists of all those individuals or households that want goods or services for their personal use.
Demographic Segmentation Consists of categorizing consumers according to statistical characteristics of a population, such as gender, age, income, education, social class, ethnicity, and so on.
Marketing The activity, set of institutions, and processes for creating, communication, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
Marketing Research The systematic gathering and analyzing of data about problems relation to the marketing of goods and services.
Pricing Figuring out how much to charge for a product--the price, or exchange value, for a good or service.
Primary Data Data derived from original research.
Product A good or service that can satisfy customer needs.
Promotion All the techniques companies use to motivate consumers to buy their products. Techniques such as advertising, public relations, publicity, personal selling, and other kinds of sales.
Sellers Market A market in which there is more demand for products than there is supply.
Target Marketing Strategy Concept of marketing, in which a company markets to a particular market segment, whose members have similar characteristics or wants and needs.
Value A customer's perception that a certain product offers a better relationship between costs and benefits that competitors' products do.
Created by: chuck2983
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