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Chapter 6 Vocab

TermDefinition
Consumer Market All people who have made a purchase in the market for personal use.
Whoopies Market of people fifty years or older that are segmented into three sections, that is, still working elders, young elderly, and the oldest elderly.
Baby Boomers People who were born in 1946 to 1964, having almost over 77 million people aged 26 to 44.
Generation X The smallest of generations compared to others because of declining birth rates.
Baby Boomlet Baby boomers who had finally started to have children which had peaked during the 80's.
Disposable Income The amount of money that is left after taxes are taken out.
Discretionary Income The amount of money that is left over after buying basic living expenses such as, food, shelter, and clothing.
Family Life Cycle The evolution of family from the young single adult stage to retirement.
Industrial Market Involves all the customers who make purchases for business purposes.
Derived Demand The demand for consumer goods and services.
Wholesalers Businesses 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 consumer.
Created by: mshuart26
 



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