Product/Service Management
Designing/Producing/maintaining/Improving products to meet customer wants/needs.
Pricing
Determining a value to charge for a product/service.
Marketing information Management
Gathering Information, analyzing information and utilizing that information to make marketing decisions.
Selling
Determining and responding to customer needs/wants through Personal Communication
Promotion
Communication that is used to persuade the customers to make the purchase.
Marketing Mix
A combination of decisions a business makes in order to best reach its Target Market. Known as the Four P's.
Target Market
The group of customers a business hopes to attract to their product/service.
Distribution
warehousing/shipping. Getting the product to the customers.
Goal
an objective you plan to fulfill.
Strategy
a plan of action to accomplish a goal.
Tactics
specific actions used to carry out strategies.
Brand Image
The way companies want customers to Perceive their business. Example- "Low Cost Provider" or "High-end Grocery Store
specific goals
detailed goals that can be easily measured.
Organic
always growing and changing
customer satisfaction
always a top goal for many companies.
Market Share
The percentage of a specific market a company holds. Ex- Food Lion may have 25% where Wal-mart may have 75% of the total grocery market.