Marketing Definitions

the commercial processes involved in promoting and selling and distributing a product or service
Product Management
the planning or marketing of a product
a product
performance of duties or provision of space and equipment helpful to others
Information Management
The management of information submitted by customers or collected data
the management of money and credit and banking and investments
The advertising of a new product
How a company decides to price a product (cost of a product).
Where a company decides to sell their product and how they sell it
Personal Selling
The direct one on one relationship between the customer and the salesperson.
Someone who is willing to buy a companys product
Someone who is intersted and willing (and in need of) to buy a product.
Marketing Concept
Customer relationship management (managing a companys relationship with its customers) EX: Customer service
the world of commercial activity where goods and services are bought and sold
Target Market
A certain market that a company decides to target and sell their product in.
Customer Profile
The kind of people a company targets to sell its product to.
Market Segmentation
concept in economics and marketing
data relating to the population and particular groups
opinion research
where a company sells their product.
Behaviorial Characteristics
A customer’s buying behavior.
The selling function
Selling approach
Generates revenue needed for the business to function
Goals of personal selling
Helping customers decide on purchases, the customer leaves happy
Service approach
Asking the customer if they need assistanace
Greeting approach
Welcoming customers
Merchandise approach
Selling the product by noticing a customers interests
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