Chapter 13 - Marketing in Today's World Vocabulary

This helps companies focus on the people most likely to buy their goods or services.

The gathering and analysis of information on the size, location, and makeup of a market

Age, gender, location, and income are all facts about the population that may be included in

This means to offer a product in a limited market for a limited time.

This occurs when goods or services are sold from the producer directly to the consumer.

Companies use this to build and maintain relationships with their customers

Distribution, financing, information management, pricing, product management, promotion, and selling are the

A pathway to direct products to consumers

The process of creating, promoting, and presenting a product or service to meet the wants and needs of consumers

This involves determining the wants and needs of customers and providing them efficiently

The division of a market for a product into groups of customers who have the same needs and traits.

Facts about the population.

Product, Place, Price, Promotion are the parts of the

The point at which total revenues, or sales, equal total costs and expenses of developing a product or service

This consists of four basic marketing strategies, collectively known as the 4 P's

This is a group of customers who share common wants and needs.