Chapter 13 Flashcards
1
Q
Role of customer in marketing
A
Marketing is focused on communicating a value proposition of the value of the company’s product to the customer
2
Q
Market Segmentation
Target Segments
A
Market Segmentation: splitting buyers into groups that share similar wants and needs
Target Segments: They people that the customer is trying to serve
3
Q
What is the marketing mix
A
Marketing Fix: All the multiple factors that influence a customer’s decision about what to buy
Product: Goods & Services offered
Promotion: Communication and information
Place: Distribution or delivery
Price: Ensuring fair value in the transaction
