Section 3: Marketing

Identifying customer wants and satisfying them profitably.

Marketing

The percentage of total market sales held by one brand or business.

Market Share

An identifiable sub-group of a whole market in which consumers have similar characteristics.

Market Segment

The process of gathering, analysing, and interpreting information about a market.

Market Research

The activities involved in marketing a product, often summarised as the "Four Ps"

Marketing Mix

The special feature of a product that differentiates it from competitors.

USP (Unique Selling Point)

An identity given to a product which gives it a personality of its own.

Brand Image

Describes the stages a product passes through from introduction to decline.

Product Life Cycle

Where consumers are very sensitive to changes in price.

Price Elastic Demand

The "online" buying and services using computer systems and apps.

E-commerce