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Marketing Ch 6
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Term | Definition |
---|---|
Consumer Market | Market consisting of all people who make purchases for personal use |
Whoopies | Well-heeled older persons |
Baby Boomers | People born between the years 1946 and 1964 |
Disposable Income | Money left after taxes are taken out |
Discretionary income | Money left after paying for basic living expenses such as food, shelter, and clothing |
Family Life Cycle | Evolution of the family through traditional stages- single, newly married, full nest, empty nest, and sole survivor |
Industrial Market | Market consisting of all customers who make purchases for business purposes |
Derived Demand | Demand in one market that is based on demand in another |
Wholesalers | Business that obtain goods from manufacturers and resell them to industrial users, other wholesalers, and retailers |
Retailers | Businesses that buy goods from wholesalers or directly from manufacturers and resell them to the final consumer |
Generation X | People born between the years 1964 and 1980; also known as the baby bust generation |
Baby Boomlet |