Chapter 12

Chapter 12 - Chapter 12 Key Terms Attitude- knowledge and...

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Chapter 12 Key Terms Attitude - knowledge and positive or negative feelings about something Buying behavior - the decision processes and actions of people who purchase and use products Concentration approach - a market segmentation approach whereby a company develops one marketing strategy for a single market segment Culture - the integrated, accepted pattern of human behavior, including though, speech, beliefs, actions, and artifacts Distribution - making products available to customers in the quantities desired Exchange - the act of giving up one thing (money, credit, labor, goods) in return for something else (goods, services, or ideas) Learning - changes in a person’s behavior based on information and experience Market - a group of people who have a need, purchasing power, and the desire and authority to spend money on goods, services, and ideas Market segment - a collection of individuals, groups, or organizations who share one or more characteristics and thus have relatively similar product needs and desires Market segmentation - a strategy whereby a firm divides the total market into groups of people who have relatively similar product needs Marketing - a group of activities designed to expedite transactions by creating, distributing, pricing, and promoting goods, services, and ideas Marketing concept - the idea that an organization should try to satisfy customers’ needs through
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Chapter 12 - Chapter 12 Key Terms Attitude- knowledge and...

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