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2.2_childress_segmen

Market Segmentation

QuestionAnswer
Market Segmentation The process of classifying people who form a given market into even smaller groups. The concept of Market Segmentation can be determined by age, price, and desired features. Some of the questions they ask when determining would be Who buys jeans? price?.
Demographics Statistics that describe a population in terms of personal characteristics such as age, gender, income, marital status, ethnic background, education, and occupation.
Disposable Income The money left after taking out taxes.
Discretionary income The money left after paying for basic living neccessities such as food, shelter, and clothing.
Geographics Segmentation of the market based on where people live.
Psychographics Involves grouping people with similar lifestyles, as well as shared attitudes.
Mass Marketing When a product has universal appeal and few features to differentiate them from competitors. Different from Market Segmentation because it doesn't segement by demographics or geographics.
Created by: vhaun
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