Oct 02, 2018 · Question 14 1 out of 1 points For marketers, the term market refers to which of the following? Selected Answer: customer groups Answers: customer groups a set of touch points such as store layouts and package designs consumers and not businesses a physical place where buyers and sellers gather a collection of buyers and sellers who transact over a particular
Definitions of Market: According to Chapmen – “The term market refers not necessarily to a place but always to commodity or commodities and the buyers and sellers of the same who are in direct competition with each other.”
Which of the following statements best describes the typical target market? a. A target market will remain stable over time, including the same group of consumers. b. Target markets change over time as consumers drop in or out of the market, and as tastes change. c. Target markets are not strongly affected by changes in the external environment. d.
(1) two or more parties (individuals or organizations) with unsatisfied needs (2) a desire and ability of parties to be satisfied (3) a way for the parties to communicate (4) something to exchange A target market refers to... one or more specific groups of potential consumers toward which an organization directs its marketing program
A market can be defined as a place where buyers and sellers meet to exchange goods, services and other relevant information is called a market.
A market can be defined as all the potential customers sharing a particular need or want. Marketing is the process of developing, pricing, distributing and promoting the goods or services that satisfy such needs.
Following is a list of few items that can be marketed: Physical Products : DVD player, Motor cycle, i pods, Cell phone, Footwear, Television, Refrigerator. Services : Insurance, Health Care, Business Process Outsourcing, Security, Easy Bill service, Financial Services.
Explanation:Marketing is the action and activity, set of establishments, and processes for making, imparting, conveying, and trading offerings that have value for clients, customers, societies, and partners.
Marketing is the process by which companies create value for customers & build strong customer relationships in order to capture value from customers in return.
The American Marketing Association (AMA), defines marketing as: “The process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchange and satisfy individual and organisational objectives”.
There are 5 philosophies or concepts in marketing: the production concept, the product concept, the selling concept, the marketing concept, and the societal marketing concept. Each with its characteristics and uses.
The 4Ps are:Product (or Service).Place.Price.Promotion.
Solution(By Examveda Team) Target market is not an element of the marketing mix. A target market refers to a group of potential customers to whom a company wants to sell its products and services.
Thus the marketing mix refers to four broad levels of marketing decision, namely: product, price, promotion, and place.
Marketing Features: Top 11 Important Features of Marketing – Explained!Customer focus: The marketing function of a business is customer-centred. ... Customer satisfaction: ... Objective-oriented: ... Marketing is both art and science: ... Continuous and regular activity: ... Exchange process: ... Marketing environment: ... Marketing mix:More items...
Primarily there are four types of consumer markets;Food and beverages,Retail,Consumer products.and Transportation.Aug 26, 2021