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marketing (2.2 - market research (primary research (questionnaires,…
marketing
2.2 - market research
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keywords
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target market
the group of customers to whom a business aims to sell its products. the target market may be other businesses as well as customers.
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2.4 - the marketing mix
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product
many businesses invest large sums of money in research and development in order to keep their products ahead of the competition.
having a varied product mix is helpful to a business when the sales of one or more products start to fall.
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for technology products in particular, innovation is vital if a business is to keep ahead of competitors
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place
place includes both where a product is sold and the method of distribution used to get the product to the customer
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smaller businesses usually have a simpler method of distribution; larger businesses tend to have a more complex system.
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