Chapter 2
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Marketing concept | Businesses must satisfy customers’ needs and wants in order to make a profit
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| Customers | People who buy the product
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| Market | Potential customers who share common needs and wants and have the ability and desire to buy a product
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| Target marketing | Focusing all marketing decisions on a specific group of people you want to reach (sell to)
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| Customer profile | Information about the customer-age, income level, ethnic background, occupation, attitudes, lifestyle, or geography
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| Marketing mix | The 4 P’s of marketing – product, place, price, promotion
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| Market segmentation | Analyzing a market by specific characteristics in order to create a target market
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| Demographics | Personal characteristics that describe a population-age, gender, income, ethnic background, education, occupation
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| Baby Boom Generation | People born between 1946 and 1964,Huge potential market
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| Generation X | Americans born between 1965 and 1976-Dual careers, divorced parents
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| Generation Y | Americans born between 1977 and 1997
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| Disposable income | Money left after taking out taxes
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| Discretionary income; | Money leftpaying for basic living necessities like food, shelter and clothing
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| Psychographics | Studies of consumers based on social and psychological characteristics
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| Geographics | Segmenting the market based on where people live-local, region, nation, global.
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
lynnrowe
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