Unit 1 Marketing Terms

4. cost of the item
7. Portion of the market controlled by a particular company or product
11. The function of marketing where the business uses the survey data to make business decisions
12. tangible item sold by a business
14. what is being sold
16. Identified group of people most likely to become your customers
17. The function of marketing where a business decides how much to charge for the product/service
18. Breaking the market up into smaller groups to create your Target Market

1. The function of marketing in which new products are developed
2. The function of marketing in which a business decides how to get the product to the consumer
3. Describing characteristics of a person (ex. age, gender, etc)
4. all items revolve around customers and potential customers
5. Based on where a person lives
6. Based on interests, values, hobbies, etc of a person
8. activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
9. Based on past purchase decisions of a person
10. how it gets from producer to consumer
13. how consumers find out about the item
15. The large group of buyers within a given area. Group of consumers or organizations that are interested in the product and have the resources to purchase the product