For each term in the list, develop definition for each term in your own words then add your orginal definitions beneath it

Question

1 Market

2. Market research

3. Market mix

4. Market positioning

5. Market penetration strategy

6. Market segmentationi

7. Market share

8. Target market

9. Customer profile survey

10. Publicity

11. Public relations

12 Press release

13. Community events

14. Advertising

15. Internet advertising

Answer 1

1. Market: A market refers to a group of potential customers who have the purchasing power and willingness to buy a particular product or service.

2. Market research: Market research is the process of gathering, analyzing, and interpreting information about a market, including consumers, competitors, and industry trends, in order to make informed business decisions.

3. Market mix: The market mix refers to the set of marketing tools, also known as the 4 Ps (product, price, place, promotion), that a company uses to influence customer purchasing decisions.

4. Market positioning: Market positioning involves creating a distinct image and identity for a product or service in the minds of consumers in order to differentiate it from competitors.

5. Market penetration strategy: Market penetration strategy is a marketing approach aimed at increasing market share by selling more of an existing product or service to current customers or by attracting new customers to the market.

6. Market segmentation: Market segmentation is the process of dividing a market into distinct groups of consumers with similar needs, characteristics, or behaviors, in order to tailor marketing strategies to each segment.

7. Market share: Market share is the percentage of total sales in a market that a company or brand controls.

8. Target market: The target market is the specific group of consumers that a company aims to reach with its products or services through its marketing efforts.

9. Customer profile survey: A customer profile survey is a research tool used to collect data on the demographic, psychographic, and behavioral characteristics of a company's target customers.

10. Publicity: Publicity involves generating media coverage and public attention for a company, product, or service through strategic communication efforts.

11. Public relations: Public relations is the practice of managing communication between an organization and its stakeholders, including media, customers, employees, and the general public.

12. Press release: A press release is an official statement issued to the media to announce news or information about a company, product, or event.

13. Community events: Community events are activities and gatherings organized by a company to engage with and build relationships with the local community.

14. Advertising: Advertising involves creating and distributing promotional messages through various channels, such as television, radio, print, and digital media, to reach and influence target customers.

15. Internet advertising: Internet advertising refers to the promotion of products or services through online channels, such as websites, search engines, social media, and email, to reach a larger audience and drive sales.