Group of people who possess
purchasing power and the authority and willingness to purchase.
Products purchased by the
ultimate consumer for personal use.
Products purchased for use
directly or indirectly in the production of other products for resale.
Process of dividing the total
market into several relatively homogeneous groups with similar product
interests based on such factors as demographic or psychographic
characteristics, geographic location, or perceived product benefits.
Dividing a population into
homogeneous groups on the basis of location.
Large, freestanding area for
which detailed marketing&-related data are collected by the Bureau of the
Census.
Major urban area within a CMSA.
Major population concentration,
including the 25 or so urban giants.
Dividing a population into
homogeneous groups based on characteristics such as age, sex, and income level.
Stages of family formation and
dissolution that can be used in demographic segmentation.
Three general statements on
spending behavior: As a family's income increases, (1) a smaller percentage of
income goes for food; (2) the percentage spent on household operations,
housing, and clothing remains constant; and (3) the percentage spent on other
items increases.
The way people decide to live
their lives, including family, job, social activities, and consumer decisions.
Dividing a population into
homogeneous groups on the basis of behavioral and lifestyle profiles developed
by analyzing consumer activities, opinions, and interests.
Collection of statements in a
psychographic study to reflect the respondents activities interests, and
opinions.
Commercially available
psychographic segmentation system.
Dividing a population into
homogeneous groups on the basis of benefits consumers expect to derive from a
product.
Dividing a business market into
homogeneous groups on the basis of product specifications identified by
organizational buyers.
Dividing a business market into
homogeneous groups on the basis of precisely how different industrial
purchasers will use the product.
Evaluation of potential market
segments on the basis of relevant characteristics.
Strategy used by organizations
that produce only one product and market it to all customers using a single
marketing mix.
Strategy employed by
organizations that produce numerous products and use different marketing mixes
designed to satisfy market segments.
Strategy that directs all of a
firm's marketing resources toward serving a small segment of the total market.
