Matching Pairs 4.01 retail elements in marketOnline version retail elements in marketing by Whitley Washington 1 Financing 2 Channel of distribution 3 Market segmentation 4 Promotion 5 Market 6 Demographic segmentation 7 Psychographic segmentation 8 Market concept 9 Geographic segmentation 10 Marketing mix 11 Marketing 12 Indirect distribution Segmenting a market based on where a person lives Obtaining the money needed to cover the costs of operating a business. 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. 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 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. The group of all potential customers. A way of segmenting a market based on consumers’ lifestyles, values, attitudes, and self-concepts. Dividing the entire market into smaller groups having similar characteristics. 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.
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