Groupings of customers

The total volume that would be bought by a defined customer group in a defined geographical area in a defined time period in a defined marketing environment under a defined marketing program

The market demand corresponding to the level of industry marketing expenditure

Planning the infrastructure to meet demand, then implementing and controlling the physical flows of materials and final goods from points of origin to points of use to meet customer requirements at a profit

Pricing strategy where firms set the lowest price, assuming the market is price sensitive, to drive higher sales volume

The limit approached by market demand as industry marketing expenditures approach infinity for a given marketing environment

Level of selective demand for a company’s product

Pricing strategy where prices start high and slowly drop over time to maximize profits from less price-sensitive customers

Someone who seeks a response from another party (the prospect)

Identifying and meeting human and social needs; the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large

A comprehensive, systematic, independent, and periodic examination of a company’s or business unit’s marketing environment, objectives, strategies, and activities

The particular set of marketing channels a firm employs

Sets of interdependent organizations participating in the process of making a product or service available for use or consumption; also called trade channels or distribution channels

Means by which firms attempt to inform, persuade, and remind consumers - directly or indirectly - about the products and brands they sell

Advertising, sales promotion, events and experiences, public relations and publicity, online and social media marketing, mobile marketing, direct and database marketing, and personal selling

Approach to marketing in which the job is to find the right products for your customers, not the right customers for your products.

Concise set of interconnected performance drivers that marketers throughout the organization can view

Tool used to identify the percentage of the potential target market at each stage in the decision process

The process that turns marketing plans into action assignments and ensures they accomplish the plan’s stated objectives

The people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers

Set of procedures and sources that managers use to obtain everyday information about developments in the marketing environment

The art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value

The set of measures organizations use to quantify, compare, and interpret marketing performance

The company and its supporting stakeholders, with whom it has built mutually profitable business relationships

Area of buyer need and interest that a company can profitably satisfy

The central instrument for directing and coordinating the marketing effort; a written document that summarizes what the firm knows about the marketplace, how it will reach its marketing objectives, and how it will direct and coordinate its marketing

Publicity and other activities that build corporate or product image to facilitate marketing goals

The systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company

Pricing an item by adding a standard increase to the product’s cost

How a company meets each customer’s requirements, on a mass basis, by individually designing products, services, programs, and communications

A parent brand that is associated with multiple brand extensions

Finding the most cost-effective media to deliver the desired number and type of exposures to a target audience

Groups having a direct influence on consumer behavior

A limited area on the Web managed and paid for by an external advertiser / company

Statement of what the organization exists to accomplish, which provides employees with a shared sense of purpose, direction, and opportunity

Bite-sized software programs that can be downloaded to smart phones

A need that is aroused to a sufficient level of intensity to drive someone to take action

Using two or more marketing channels to reach customer segments in one market area