Quiz 3 Review Sheet - Q 3Review You are responsible for all...

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Q3 Review You are responsible for all the notes and class discussion and homework assignment w.r.t. value creation. Some Topics to focus on: What is marketing? A set of processes for creating communication, delivering value to customers, and for improving customer relationships. What is marketing concept? Find out what customers need. Develop products that meet those needs. Engage the whole company in efforts to satisfy customers. What are the different aspects of marketing strategies? Selecting a target market. Creating, Pricing, Promoting, and distributing products that satisfy customers. What is target market? A specific group of consumers who are particularly interested in a product, who have access to it, and have the means to buy it. Identify two types of market: consumer and industrial market. Details about each market segmentation category. Demographic- Age, marital status, ethnic background, gender, income Geographic- Climate, region, population density
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