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Chapter 6

Vocab words

TermDefinition
Consumer market market consisting of all people who make purchases for personal use
whoopies well- heeled older persons; the 50-plus generation
baby boomers people born between the years of 1946 and 1964
Generation X people born between the years of 1964 and 1980; also known as the baby bust generation
baby boomlet people born in the 1980's and early 1990's (this generation peaked in the 1991)
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 purpose; also called the business-to- business market
derived demand demand in one market that is based on demand in another; for example, demand in industrial market is based on demand for goods and services in the consumer market
wholesalers Businesses that obtain goods from manufactures and resell them to industrial users, other wholesalers and retailers
retailers businesses that buy goods from wholesalers or directly from manufactures and resell them to the final consumer
Created by: olongboat18
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