Marketing: Helping Buyers Buy
Marketing
the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
Customer relationship management (CRM)
is the process of learning as much as possible about present customers and doing everything you can over time to satisfy them with goods and services
marketing research
The analysis of markets to determine opportunities and challenges, and to find the information needed to make good decisions.
Focus group
A small group of people who meet under the direction of a discussion leader to communicate their opinions about an organization, its products, or other given issues.
Environmental scanning
is the process of identifying factors that can affect marketing success.
2 types of market
consumer market All the individuals or households that want goods and services for personal consumption or use.
business-to-business (B2B) market All the individuals and organizations that want goods and services to use in producing other goods and services or to sell, rent, or supply goods to others
market segmentation
The process of dividing the total market into groups whose members have similar characteristics.
target marketing
Marketing directed toward those groups (market segments) an organization decides it can serve profitably
demographic segmentation
geographic segmentation
Dividing a market by cities, counties, states, or regions.
Dividing the market by age, income, and education level.
psychographic segmentation
Dividing the market using groups’ values, attitudes, and interests
benefit segmentation
Dividing the market by determining which benefits of the product to talk about.