Market Segmentation
Market segmentation is a process of dividing the total market for goods or services into several small groups or segments on the basis of customers' different needs, wants, and characteristics.
A market is a group of buyers.
Buyers...
Product
A product is anything that satisfies a need or wants of customers. Product is the core element of marketing activities.
Tangible Products - Physical goods (sugar, tea, books, shoes, clothes, TV, car, etc.)
Intangible Products - Service product (bank,...
Meaning of Marketing
Narrow Concept
"Marketing is the performance of business activities that direct the flow of goods and services from producer to consumer or users." - AMA (American Marketing Association)
Broad Concept
"Marketing is the activity, set of instructions and exchanging offerings...