refers to the marketplace where individuals purchase goods and services for personal consumption rather than for resale.

Celebration: It is often used as an exclamation to express joy or excitement, similar to "whoopee"

refer to individuals born between 1946 and 1964, a demographic that significantly influences market trends.

refers to individuals born between 1965 and 1980. They are often characterized by their independent, resourceful, and self-sufficient nature.

refers to a generation of consumers born between 1977 and 1994, following the baby boomers.

It includes both necessary spending on essentials like food and rent and discretionary spending on leisure and luxury items.

defined as the amount of income that remains after an individual or household has paid for essential expenses such as taxes, food, utilities, and housing.

refers to the various stages that a typical family goes through over time, influencing their purchasing behavior and marketing strategies.

consists of organizations and individuals that acquire goods and services for the production of other products or services that are sold, rented, or supplied to others.

refers to the demand for a good or service that arises from the demand for another related good or service, playing a crucial role in marketing and supply chain dynamics.

a merchant middleman who purchases goods in large quantities from manufacturers or producers and resells them to retailers, other merchants, or industrial users.

the one who sells goods/services directly to consumers for their personal or non-business use. Retailers are business entities which act as an intermediary between producer & consumer of goods.

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vocab chpt 6

Question	Answer
consumer market	refers to the marketplace where individuals purchase goods and services for personal consumption rather than for resale.
whoopies	Celebration: It is often used as an exclamation to express joy or excitement, similar to "whoopee"
baby boomers	refer to individuals born between 1946 and 1964, a demographic that significantly influences market trends.
generation x	refers to individuals born between 1965 and 1980. They are often characterized by their independent, resourceful, and self-sufficient nature.
baby boomlet	refers to a generation of consumers born between 1977 and 1994, following the baby boomers.
disposable income	It includes both necessary spending on essentials like food and rent and discretionary spending on leisure and luxury items.
discretionary income	defined as the amount of income that remains after an individual or household has paid for essential expenses such as taxes, food, utilities, and housing.
family life cycle	refers to the various stages that a typical family goes through over time, influencing their purchasing behavior and marketing strategies.
industrial market	consists of organizations and individuals that acquire goods and services for the production of other products or services that are sold, rented, or supplied to others.
derived demand	refers to the demand for a good or service that arises from the demand for another related good or service, playing a crucial role in marketing and supply chain dynamics.
wholesalers	a merchant middleman who purchases goods in large quantities from manufacturers or producers and resells them to retailers, other merchants, or industrial users.
retailers	the one who sells goods/services directly to consumers for their personal or non-business use. Retailers are business entities which act as an intermediary between producer & consumer of goods.

Created by: tstern29

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