Marketing Vocabulary Review

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Across
  1. 4. is a detailed and comprehensive representation of the characteristics, preferences, and behaviors of a target customer or a specific market segment.
  2. 5. refers to the vast and diverse group of individuals or households who purchase goods and services for personal use and consumption. It encompasses a wide range of products catering to various needs, preferences, and lifestyles of individual consumers.
  3. 10. This segmentation involves categorizing a market based on lifestyle factors, including attitudes, interests, values, and behavior.
  4. 11. involves identifying and directing marketing efforts towards a specific and well-defined segment of the market that is more likely to respond positively to a particular product or service. This strategy aims to tailor marketing messages and offerings to the needs and preferences of a specific target audience.
  5. 12. is a multifaceted business discipline that involves the creation, communication, delivery, and exchange of goods and services to meet the needs and wants of target customers. The primary objective of __________________ is to build and maintain strong customer relationships while achieving the organization's goals
  6. 13. involves focusing on a small, specialized segment of the market with unique and specific needs.
  7. 15. also known as the business-to-business (B2B) market, involves transactions and exchanges of goods and services between businesses.
  8. 17. This segmentation involves dividing a market based on factors such as age, gender, income, education, occupation, and other measurable characteristics of the population.
  9. 18. This segmentation categorizes consumers based on their behaviors, usage patterns, and the benefits they seek from a product or service.
Down
  1. 1. is the total amount of money available to an individual or household after deducting taxes. It represents the funds that can be spent on goods and services, providing insights into the purchasing power of consumers.
  2. 2. often referred to as the 4Ps (Product, Price, Place, Promotion), encompasses the combination of marketing elements that a business can control to influence consumer purchasing decisions. It involves strategic decisions related to product development, pricing strategies, distribution channels, and promotional activities.
  3. 3. This segmentation involves dividing a market based on criteria, such as location, region, climate, and population density.
  4. 6. indicates the percentage increase in the overall size of a market over a specific period. It is a key metric for assessing the health and opportunities within a market, providing insights into the potential for increased sales and revenue.
  5. 7. is a marketing strategy where businesses create and promote products or services intended to appeal to a broad and undifferentiated audience.
  6. 8. refers to the total value or volume of a specific market, measured in terms of sales, revenue, or units.
  7. 9. refers to the perceived worth, significance, or benefit that a product, service, or action provides to an individual or group. It is a subjective assessment based on the unique needs, preferences, and priorities of the evaluator. In a business context, delivering this is a fundamental goal, and it often involves meeting or exceeding customer expectations by providing quality, utility, or satisfaction.
  8. 14. is the money remaining after essential expenses, such as taxes and basic living costs, have been deducted. This income is available for non-essential, discretionary spending on luxury items, entertainment, and other non-essential goods and services.
  9. 16. represents the percentage of total market sales or revenue that a specific company or product captures. It is a crucial metric for businesses to evaluate their competitive position and performance relative to other players in the market.