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