Understanding marketing terms is an important part of being able to apply the marketing concept.

Question

Using index cards, create flash cards for the vocabulary terms. Write a vocabulary term on one side of a card and its definition on the other side.
Once you finish making your flash cards, get with a group of two or three to practice identifying the term when shown the definition and the definition when shown the term.
Copy your vocabulary terms to the space provided below, then submit your Activity.

Answer 1

Sure! Here are some common marketing terms along with their definitions that you can use to create your flashcards:

1. Market Segmentation

   • The process of dividing a broad consumer or business market into sub-groups of consumers based on shared characteristics.

2. Target Market

   • A specific group of consumers at whom a company aims its products and services.

3. Brand Equity

   • The value added to a product or service by having a well-known brand name, which affects consumer perception and behavior.

4. Value Proposition

   • The promise of value to be delivered to the customer, explaining how a product or service will fulfill their needs or solve their problems.

5. Integrated Marketing Communication (IMC)

   • A strategic approach that integrates different marketing methods and channels into a cohesive communication strategy to deliver a consistent message.

6. Positioning

   • The process of establishing the image or identity of a brand or product in the minds of the target market compared to competitors.

7. Marketing Mix

   • The combination of factors that can be controlled by a company to influence consumers' purchase decisions, often referred to as the 4Ps: Product, Price, Place, Promotion.

8. Customer Relationship Management (CRM)

   • A business strategy aimed at optimizing customer interactions and fostering long-term relationships with customers.

9. Digital Marketing

   • The use of digital channels, tools, and technologies to promote products and services to consumers.

10. Market Research

    • The process of gathering, analyzing, and interpreting information about a market, including information about the target market, consumers, and competitors.

You can create flashcards by writing each term on one side and its corresponding definition on the other. Once you've created your flashcards, practice with your group to deepen your understanding of these terms. Let me know if you need any further assistance!