Introduction to Marketing Study Notes for Test

Marketing Study Notes Target Market - to whom will you target the product. Developing Starategic Marketing Plan - identify, evaluate & select the market - when market is selected, develop & implement a Marketing Program designed to target choosen market. Market - people with willingness to purchase and authority to buy. Types of Markets: CONSUMERR GOODS - products & services purchased by consumer for personal use. INDUSTRIAL GOODS - products purchased to …

…segments; ELDERS: Rational Traditionalists (stability & security) Extroverted Traditionalists (Religiosity & Family) Cosmopolitan Modernists (Global World-View, Respect for Education, Desire for innovation) BOOMERS Autonomous Rebels (Freedom, Individuality, Education) Anxious Communitarians (Family, community, duty, respect) Connected Enthusiasts (family, hedonism, gratification) Disengaged Darwinists (Nostalgic about past) GENERATION X Aimless Dependents (independence) Thrill-Seeking Materialists (Money, recognition, respect, admiration.) New Aquarians (Ecology, Hedonism) Autonomous Postmaterialists (Freedom, Respect for Human Rights) Social Hedonists (aesthetics, hedonism, sexual permissiveness, gratification)