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the management process which is responsible for identifying potentially profitable products and then selling them to customers.
The marketing mix
The combinations of factors which help the business sell a product - usually summarised as the 4P's; price, product, promotion and place.
The aspect of marketing that ensures the firm develops and designs a product that satisfies a customers' needs and wants.
The aspect of marketing that ensures a product is priced correctly to attract customers but also ensure firms optimise their profits.
The methods a firm uses to ensure customers know about their products.
The aspect of marketing that ensures the product is available for sale where the customer finds it convenient.
Part of a market which contains a groups of buyers with similar characteristics, such as age or income levels.
Division of people from A - E according to the occupation of the head of the household in which they live.
Finding out information from secondary data
The process of collecting primary data
A business which develops products which have been researched and designed to meet the needs of customers.
The process of gaining information about customers, competitors and market trends through collecting primary and secondary data.
Information which has been gathered for a specific purpose through direct investigation through surveys, observations etc.
A business which develops products with little or no market research and which it hopes will prove successful in the market.
A list of questions to be answered by respondents, designed to give information about consumers' tastes.
Person or organisation answering questions in a survey
Small group out of a total population which is selected to take part in a survey.
Information which already exists, such as accounts and sales records, government statistics etc.
Research involving asking questions of people or organisations.