chapter 2 i2m

5. A statement that explains how a product or service solves a problem or improves a situation for the customer.
7. The practice of creating a name, symbol, or design that identifies and differentiates a product from others.
9. The use of digital channels, platforms, and technologies to promote products and services to consumers.
11. The activities that communicate the merits of the product and persuade target customers to buy it.
12. The process of making a product or service available for the consumer or business user that needs it.
13. A specific group of consumers identified as the intended audience for a product or service.
14. A favorable position a company holds over its competitors, allowing it to generate greater sales or margins.
15. The process of dividing a broader market into smaller, defined categories based on shared characteristics.

1. The strategy of establishing a brand or product in the minds of consumers relative to competitors.
2. The process of promoting, selling, and distributing a product or service to consumers.
3. A strategy for managing a company's interactions with current and potential customers, often using data analysis to improve business relationships.
4. The study of how individuals make decisions to spend their resources on consumption-related items.
6. The process of gathering, analyzing, and interpreting information about a market, including information about the target market and consumers’ needs.
8. A model that represents the journey potential customers go through on the way to making a purchase.
10. A combination of factors that can be controlled by a company to influence consumers to purchase its products (often referred to as the 4 Ps Product, Price, Place, Promotion).