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