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