Matching Pairs SMM 1-1 Glossary TermsOnline version Match the term with its definition by Kerri Stegman 1 A system where businesses are privately owned and run by people rather than the government 2 To conceive and formulate new ideas and strategies 3 Creating strategies and establishing goals, objectives, processes and procedures in order to reach and attract the target customer to a business 4 A specific procedure or action used to support strategy, in order to achieve goals and objectives 5 Communicating with customers, listening to needs & wants, giving info to make informed buying decisions, persuading on the value of a product/service 6 A combination of components used together in order to strengthen a product’s brand and to help sell the product or service 7 The process of ideation, creation, promotion, & delivery of profitable products & services, to targeted customers, for their benefit & for of society 8 A company’s intention to analyze, identify & satisfy consumer’s needs & wants, build products, solutions, & strategies better than the current 9 Researching a business’s target market and customers, its competing products or services, and relevant trends within the industry 10 A specific group of customers that is most likely to buy a product/service, & where marketing efforts are aimed/“targeted” to reach this group 11 Informing potential customers that a product or service exists, and the results they should expect from using it 12 The rivalry between companies selling similar products and service 13 The individualized attention provided and available to customers throughout their lifespan as customers 14 To transform ideas into tangible products and services, or to improve existing ones 15 A specific written document that outlines objectives, actions, and timelines of how to attract target market customers to the business 16 A company’s game plan for reaching its target market, converting it to customers, and meeting company goals creation marketing strategy marketing plan private enterprise system marketing marketing-information management competion target market market planning marketing mix marketing concept tactics customer service ideation promotion selling
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