Introduction to Marketing Terms

2. A type of marketing which is undifferentiated. It is a strategy that ignores targeting individual market segments.
5. AManagement process of predicting, identifying and meeting the needs and wants of customers in a profitable way.
6. Small groups of people who are got together to discuss a product, service or marketing policy. The aim is to provide an insight into consumers behaviours and attitudes.
9. Data from which is usually then extrapolated to represent the entire audience
10. segementation based on characteristics of the human population within a certain area, country, or region.
11. A situation where a firm focuses more on creating the product and then selling the product they created. This is the opposite of market-orientated firms where they produce products in respond to the needs of the market.

1. A situation where the business will focus on the needs of the customer before making decisions regarding the product, pricing strategy and promotion.
3. A process of marketing a good or service in a specialist area of the market, normally a small segment of a market.
4. The process of breaking a market down into particular groups or sub-groups of consumers, each of which reflects different customer preferences.
7. segmentation largely influenced by geographic factors such as location or climate.
8. segmentation based on factors that consider the emotions and lifestyle of customers.
12. A market or market segment that a firm has decided to focus on selling to.