Principles of Marketing
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| 🇬🇧 | 🇬🇧 |
| Segmenting consumers on the basis of what they do. | Behavioral Segmentation |
| Segmenting consumers on the basis of age, gender, ethnicity, etc. | Demographic segmentation |
| Segmenting consumers on the basis of location (e.g., zip code). | Geographic segmentation |
| Segmenting consumers on the basis of their attitudes, opinions, and lifestyle. | Psychographic segmentation |
| Subdivision of a population into segments with similar characteristics, such as age, education, or income. | Segmentation |
| The process of gathering, analyzing, and interpreting information for decision-making purposes. | Marketing research |
| Information previously collected for other purposes. | Secondary data |
| The state of having inconsistent thoughts, beliefs, or attitudes, especially as they relate to behavioral decisions and attitude change. | Cognitive dissonance |
| The process by which individuals search for, select, purchase, use, and dispose of goods and services in order to satisfy their needs and wants. | Consumer behavior |
| The process of dividing a larger market into smaller groups, or market segments, based on shared characteristics. | Market Segmentation |
| The actions the firm takes to coordinate the various flows within a supply chain. | Supply chain management |
| The process of driving traffic to a company’s website from “free” or “organic” search results using search engines. | Search engine optimization (SEO). |
| This form of digital marketing is a cost-effective method of retaining, nurturing, or attracting a new customer base. | E-mail marketing |
| Is a set of practices that enables organizations to communicate and engage with their audience through any mobile device or network. | Mobile marketing |
| A process that involves the computerized search for meaningful trends in a large amount of data. | Data mining |
| Strategy approaches the marketplace as one large segment. | Undifferentiated Targeting |
| Occurs when an organization simultaneously pursues several different market segments, usually with a different marketing mix strategy for each. | Differentiated targeting |
| The customers’ perception of a company | Market position |