What Are The Main Responsibilities Of The Marketing Department Uah Mgmt346 Homework

474 words - 2 pages

What are the main responsibilities of the marketing department?
Designing an place, promotion, product and price that attracts the target market and ultimately drives sales.

Target market
A group of people identified as those most likely to become customers that have similar wants and needs.

Advertising
Paid, non personal presentation of ideas, goods, or services direct at a mass audience by an identified sponsor. For example print, billboard, radio, TV or pop-up commercial.

Brand
The name, symbol, slogan message or design used to identify a products reputation and image.

Brand loyalty
The tendency to buy a particular brand of a product.

Commission
A fee paid to salesperson based on a percentage of the amount they sold. For example, real estate agents earn a commission of 3% of the value of the property they sold.

Competitive advantage
A feature that makes a product more desirable than its competitors.

Demographics
Measurable characteristics that describe a population by age, gender, income, ethnic background, education, and occupation.

Elastic demand
situations in which a change in price creates a change in demand.

focus group
a small group of people whose opinions are studied to determine the opinions that can be expected from a larger target market population.

Image
The impression people have of a company; it's personality or reputation.

Inelastic demand
Situations in which an change in price has little or no effect on demand.

Markdown
the amount of money taken off an original...

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