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Marketing Chapter 6

Marketing Chapter 6 Vocab Review

TermDefinition
consumer market a particular group of customers who buy goods or services for their own use
whoopies marketing trends and changes. A large number of "whoopies" (well-off-old-age pensioner) who have retried early on "good" public sector pensions with more mortgages paid off
baby boomers marketing (selling to people born between 1946-1964) ecommerce news
baby boomlet an increase in birth rate that occurred when the baby boomers reached childbearing age
generation x the generation born after that of the baby boomers (roughly from the early 1960s to late 1970s), typically perceived to be disaffected and directionless
disposable income income remaining after deduction of taxes and other mandatory charges, available to be spent or saved as one wishes.
discretionary income income remaining after deduction of taxes, other mandatory charges, and expenditure on necessary items.
family life cycle The emotional and intellectual stages you pass through from childhood to your retirement years as a member of a family are called the family life cycle
industrial market The industrial market (also called the producer market or business market) is the set of all individuals and organizations that acquire goods and services that enter into the production of other products or services that are sold, rented, or supplied.
derived demand a demand for a commodity, service, etc. which is a consequence of the demand for something else.
wholesalers a person or company that sells goods in large quantities at low prices, typically to retailers.
retailers a person or business that sells goods to the public in relatively small quantities for use or consumption rather than for resale.
Created by: mgrisanti24
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