Theme 1 Marketing and people 1.3 4.0 / 5 based on 1 rating ? Business StudiesMarketing and competitive environmentsASAll boards Created by: james_hirst16Created on: 02-01-17 15:56 What is marketing? Identifying and satisfying customer needs profitably. 1 of 14 What is a market? Where buyers and sellers meet. 2 of 14 Niche market Meeting the needs of a small number of potential customers. 3 of 14 Mass marketing Creating a product that appeals to the masses. 4 of 14 Market share The proportion of the total market accounted for by one product or one firm. 5 of 14 Market growth Measures the change in value of the market. 6 of 14 Dynamic markets Where the market is constantly changing. 7 of 14 Innovation Bringing a new idea to life. 8 of 14 Market research. Gathering and analysing information about customers needs and the nature of the market. 9 of 14 Secondary research. Research collected and published by someone else. 10 of 14 Quantatative data Numerical data 11 of 14 Qualitative data Attitudes, feelings and opinions. 12 of 14 Market segmentation. Where the market is broken down into smaller sections with similar characteristics. 13 of 14 The 4P's Product, price, promotion and place. 14 of 14
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