deciding how much to charge for goods/services in order to maximize profits

what is Psychographics?

studies of consumers based on social and psychological characteristics.

segmentation based on where people live

what is channel management/distribution?

process of deciding how to get goods into customers hands

what is place utility?

having a product where customers can buy it

what is marketing information management?

information on customers through research, used to determine customer demographics, buying habits, and behavior, gathering info, storing info, analyzing info, trends and competing products

what is target market?

the group that is identified for a specific marketing program

what is demographics?

personal characteristics, age, gender, ethnic backround, occupation

what is customer profile?

Created to develop a clear picture of the target market, like age, income

process of planning, pricing, promoting, selling and distributing goods

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marketing 2024

10 termsStudBud Administration

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Questions 10

Answers

1
what is pricing?
deciding how much to charge for goods/services in order to maximize profits
Television, radio commercials, Print ads
Provides customers with goods and services they want
talking to customers to inform/persuade/remind them about a businessproduct
2
what is Psychographics?
Baby Boom Generation
personal characteristics, age, gender
studies of consumers based on social and psychological characteristics.
a way of analyzing a market
3
what is geographics?
money left over after paying for basic living necessities.
products can be for men or women only, or for both
money left after taking out taxes.
segmentation based on where people live
4
what is channel management/distribution?
process of deciding how to get goods into customers hands
market share
understanding concepts and stratagies to develop specific marketing audienc
5
what is place utility?
having a product where customers can buy it
involves communication with the consumer
changing materials or putting parts together to make them more useful
having a product available at a certain time of year or a time of day
6
what is marketing information management?
information on customers through research
used to determine customer demographics, buying habits, and behavior
gathering info, storing info, analyzing info
trends and competing products
7
what is target market?
Channel Management / Distribution
Promotion
selling
the group that is identified for a specific marketing program
8
what is demographics?
people use marketing to promote their platform beliefs
tangible items that have monetary value
intangible items that satisfy your needs but you can’t touch them
personal characteristics, age, gender, ethnic backround, occupation
9
what is customer profile?
involves studying peoples needs and wants like shampoo
comprises of 4 basic marketing strategies, called the 4 P’s
US is ethnically diverse
Created to develop a clear picture of the target market, like age, income
10
what is marketing?
ideas
process of planning, pricing, promoting, selling and distributing goods
marketing
services

marketing 2024 Flashcards | StudBud