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Home Page Social Science Business Advertising Marketing Marketing Essentials Chapter 1.3 vocabulary - Flashcards

Marketing Essentials Chapter 1.3 vocabulary – Flashcards

Anthony Richie
8 July 2022
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Market
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All people who share similar needs and wants and who have the ability to purchase a given product.
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Consumer Market
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Consists of consumers who purchase goods and services for personal use.
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Organizational Market
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Also known as the business to business market (B2B) includes all businesses that buy products for use in their operations.
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Market Share
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A company's percentage of the total sales volume generated by all companies that compete in a given market.
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Market Segmentation
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Involves segmenting or breaking down, the market into smaller groups that have similar characteristics.
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Target Market
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The group that is identified for a specific marketing program.
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Customer profile
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Lists information about the target market, such as age, gender, income level, marital status, ethnic background, geographic residence, attitudes, lifestyles, and behavior.
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Marketing Mix
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Includes the four basic marketing strategies called the four P's; product, price, place, and promotion.
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Question
What is the right structure for an essay
Answer
A paragraph is a related group of sentences that develops one main idea. Each paragraph in the body of the essay should contain:
  • a topic sentence that states the main or controlling idea
  • supporting sentences to explain and develop the point you’re making
  • evidence from your reading or an example from the subject area that supports your point
  • analysis of the implication/significance/impact of the evidence finished off with a critical conclusion you have drawn from the evidence.