Stukent Entrepreneurship - Unit 5

marketing

the act of recognizing, predicting, and fulfilling the desires and requirements of customers through thoughtful strategizing, aiming to attain the goals set by an organization

marketing mix

the strategies employed by a company to enhance the visibility and desirability of its products or services within the market with the aim of persuading consumers to make a purchase

7 Ps of Marketing

product, price, place, promotion, people, process, physical evidence

market development

involves searching for new market segments and new uses for a company's products

operations (part of business)

the core activities and processes involved in delivering the products or services that the business offers

finance (part of business)

management of the monetary aspects of the business

marketing (part of business)

the activities and strategies aimed at promoting the business, attracting customers, and creating awareness about its products or services

human resources (part of business)

management of the people within the organization

Unique Selling Proposition (USP)

a clear statement that describes the unique benefits a business, product, or service offers, setting it apart from competitors and answering the customer's question, "Why should I choose it?"

emerging technologies

new and innovative tools, processes, or systems that have the potential to significantly impact the way organizations operate