Marketing Concepts (Marketing I) Review

Marketers look at disposable income and discretionary income when marketing to consumers.

The Cardinals call this city their "home"

aggregating process which clusters people with similar needs into market segments

person who buys the product

Mass markets are a homogeneous group of consumers to which producers wish to appeal.

products the customer had not planned to buy but were at the right place at the right time

providing consumers with the products and services they desire

using channels to get products to consumers

changes in households, the economy, politics and workplace; changes in personal attitudes about health, time, fun, etc.

applies to a fairly homogeneous group of consumers

obtaining the money necessary for business operations

applying promotional techniques to potential customers

increase in cost

It is rare for a completely new product to enter markets and be successful.

money left after taxes are taken out of paychecks

business must satisfy needs and wants of their customer to compete

The marketing mix includes place, price, positioning and promotion.

involves direct spoken communication between sellers and consumers

person who uses the product

products bought often, routinely and without a lot of thought