Marketing is Understanding peoples needs and meeting them
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What is meant by market share?
Market share is percentage of the total sales of a product accounted for by one company.
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why do businesses use marketing?
Businesses use marketing to launch new peoducts, keep cusomers loyalty.
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how do you meet customers needs?
Find out who your targeting, what their needs are and what what you can do to meet them.
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what is 'The Market Plan' and give a method for a market plan.
The market plan identifies the marketing activities which must be completed to acheiveo the aims of the business and an method that is used is SMART targets.
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What is B2B market?
Business selling to another Business
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What is B2C?
A Business selling to a comsumer.
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What is a 'niche market'?
A small group of customers that have spesific needs.
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Name the 3 Business Models.
1.The sales model 2.The advertising model 3.The marketing madel
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why is branding important?
Branding is improtant because it makes a business distinctive and memorable.
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Other cards in this set
Card 2
Front
What is meant by market share?
Back
Market share is percentage of the total sales of a product accounted for by one company.
Card 3
Front
why do businesses use marketing?
Back
Card 4
Front
how do you meet customers needs?
Back
Card 5
Front
what is 'The Market Plan' and give a method for a market plan.
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Marketing serves as the bridge between businesses and their target audience, illuminating the value of products or services to potential customers. At its core, marketing creates awareness, generating interest and fostering desire which, in turn, drives sales. Businesses leverage various marketing strategies, from digital advertising to traditional print, to ensure they remain relevant in the ever-evolving market landscape. It's not just about selling, but also about storytelling. Through effective marketing, brands build trust, establish credibility, and create a lasting relationship with their audience. It equips businesses with insights derived from market research, ensuring products align with customer needs and preferences. In a saturated market, marketing differentiates, making businesses stand out. In essence, marketing is the lifeline that ensures sustainable growth, brand loyalty, and profitability for businesses.
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