Marketing (LC 2026) (Leaving Cert Business): Flashcards
📚Flashcards
Practise the cards
10 cards from this deck
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Practise the cards
10 cards from this deck
Marketing plan
Marketing plan
Strategic doc outlining approach to promote/sell products
Market segmentation
Market segmentation
Dividing market into groups by shared characteristics
Geographic segmentation
Geographic segmentation
Dividing market by geographical areas like regions or cities
Demographic segmentation
Demographic segmentation
Dividing market by age, gender, income, etc.
Niche market
Niche market
Specific, focused segment of larger market with unique needs
Target market
Target market
Broader group of potential customers with common traits
The 4 Ps of marketing mix
The 4 Ps of marketing mix
Product, Price, Place, Promotion
Product life cycle
Product life cycle
Stages product goes through from introduction to withdrawal
PLC stage with highest profit
PLC stage with highest profit
Maturity
Extend PLC using price
Extend PLC using price
Lower price in saturation to appeal to budget consumers