BUSN 70 Study Guide - Midterm Guide: Prime Rate, Corporate Finance, Accounts Payable
Document Summary
Marketing - a group of activities designed to expedite transactions by creating, distributing, pricing, and promoting goods, services, and ideas. Market must adapt and cater to customers needs and maintain organizational. Must make benefits known and show why company is better than competitors goals. Target market - attract certain demographic, specific group of consumers on whose needs and wants a company focuses its marketing efforts. Total-market approach - an approach whereby a firm tries to appeal to everyone. Specialize in one segment or reach multiple segments with different tactics. Niche marketing - a narrow market segment focus when efforts are on one small, well-defined group that has a unique, specific set of needs. Marketing mix - prod uct, price, promotion, distribution. Expeditionary marketing - in the case of a startup, the goal is to find emerging markets, design a product for that market, and establish themselves as a leader.
