1.8 Operational Definition of Terms
Marketing : Marketing can be seen as the process in a society by
which the demand structure for economic goods and services is
anticipated, or enlarged and satisfied through the conception,
promotion, exchange and physical distribution of goods and services.
Strategy: strategy is the means, schemes and methods designed
by an organization for operationalizing policies and pursuing its
objectives.
Marketing Strategy: Marketing strategy can be defined as the
general terms used to describe the overall company program for selecting
a particular market segment and then satisfying it’s consumer through
careful use of the elements of the marketing mix.
Marketing mix: is that combination of product features,
accompanying services, price decision, promotional tools and place for
the distribution of these products in reaching, serving and appealing to
the target market.
Target market: this is that group of consumers which the
company wishes to sell its products.
Q1