Marketing
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1a)
market refers to the group of consumers or organizations that is interested in the product, has the resources to purchase the product, and is permitted by law and other regulations to acquire the product
1b)
i)Market research- is about gathering
information concerning your target
customers.
ii)Promotion Most business owners are familiar with the idea of promotion.
iii)Selling While we tend to think of selling and marketing as being closely linked, selling is last on the list of the seven functions of marketing.
iv)Pricing Setting the correct price for your product or service can be a challenge.
1ci)
government market is a group of consumers that consists of local, state and federal authorities.the government market spends the most money of any other consuming group, and so presents
an attractive marketing target for some businesses.
1cii)
reseller market buyers who purchase with the intent of selling those products to others. The reseller market includes wholesalers, retailers, and distributors.
1ciii)
Industrial marketing is the marketing of goods and services by one business
to another. Industrial goods are those
an industry uses to produce an end
product from one or more raw materials.
5a)
problem recognition The acknowledgement and definition of an issue that does or may arise during the performance of a process.
5b)
Information Search is a stage in the
Consumer Decision Process during which
a consumer searches for internal or
external information.
5c)
Evaluating Alternatives During the evaluation of alternatives stage, the consumer evaluates all the products available on a scale of particular attributes.
5d)
Purchase decision is the thought process that leads a consumer from identifying
need, generating options, and choosing a specific product and brand.
5e)
Post-purchase behavior is when the
customer assesses whether he is satisfied or dissatisfied with a purchase.
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