COMM 103 Lecture 15: COMM 103 – Marketing Fundamentals
Document Summary
Frequency of purchase (fop): how often consumers buy your products/services. Average transaction revenue (atr): average amount that consumers spend. Customer base = (new customers + existing customers) deserted. Segmentation: dividing a broad target market into subsets of consumers, businesses, or countries who have common needs, and then designing and implementing strategies to target them. Granulation: a magnified version of segmentation segments within segments. Product life cycle: how long the product takes from inception to removal from product mix future revenue that can be generated from product and the time when you can gain this revenue. Product commercialization: process of introducing new product to market. Value equation = market position + market mix execution = performance. Marketing: process of analyzing market research to determine a product that you wish to advertise and sell to a target market.
