Unit 10: marketing

market

the set of all actual and potential buyers of a good or service; the place where people buy and sell; the people who trade in a particular good; to make goods available to buyers and to encourage them to buy them

market leader

the company with the largest market share

market nicher

a small company that concentrates on one or more particular niches or small market segments

market research (GB) or marketing research (US)

the collection, analysis and reporting of data relevant to a specific marketing situation (e.g. a proposed new product)

market segment

part of a market; a group of customers with specific needs, defined in terms of geography, age, sex, income, occupation, life-style, etc.

market segmentation

the act of dividing a market into distinct groups of buyers who have different requirements or buying habits

market share

the sales of a company (or brand or product) expressed as a percentage of total sales in marketing - the process of identifying and satisfying consumers' needs and desires

marketing channel

the set of intermediaries a company uses to get its goods to their end users

marketing mix

the set of all the various elements in a marketing programme, and the way a company integrates them

marketing strategy

a plan or principle designed to achieve marketing objectives

product life cycle

the standard pattern of sales of a product over the period that it is marketed