Matching Pairs 4.01 retail elements in marketOnline version retail elements in marketing by Whitley Washington 1 Geographic segmentation 2 Indirect distribution 3 Psychographic segmentation 4 Financing 5 Demographic segmentation 6 Promotion 7 Marketing 8 Market concept 9 Market segmentation 10 Marketing mix 11 Channel of distribution 12 Market The group of all potential customers. Segmenting a market based on where a person lives Dividing the entire market into smaller groups having similar characteristics. A combination of decisions a business must make in order to best reach its target market; known as “the four Ps” of marketing—product, place, price, promotion. Communication used to inform, persuade, or remind people about a business’s products. The path a product takes to get from the producer to the consumer A distribution channel in which goods or services are sold indirectly to the consumer through one or more intermediaries. Obtaining the money needed to cover the costs of operating a business. A way of segmenting a market based on consumers’ lifestyles, values, attitudes, and self-concepts. A way to segment markets based on vital statistics of the population such as age, race, gender, education level, income level, and occupation. The process of developing, promoting, pricing, and distributing products in order to satisfy customers’ needs and wants. A business approach that directs all marketing efforts towards customer wants and needs.
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