MarketingVocats2.03 Word Scramble
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Question | Answer |
The group of all potential customers who have similar needs and wants and have the ability to buy the product. | Market |
make purchases for personal use | Consumer Market |
Businesses that buy products to use in their own business. Also referred to as a business-to-business (B2B) market | Industrial Market |
The percentage of the total sales revenue acquired by a business within a market. | Market Share |
A single marketing plan used to reach all consumers-chewing gum or light bulbs | Mass Marketing |
Narrowing markets, by identifying very specific characteristics, into a more specific group of people. | Niche Marketing |
Dividing the entire market into smaller groups who share similar characteristics-allows businesses to customize products to reach specific markets. | Market Segmentation |
demographic, geographic, psychographic, and behavioral factors. | Common Ways to Segment |
Dividing the market based on personal characteristics | Demographic |
Dividing a market based on where a person lives | Geographic |
: Dividing the market based on values (ethics, morals, standards), attitudes (personality), and lifestyles | Psychographic |
Dividing the market into groups based on what they are looking for in a product and why they buy the product | Behavioral |
Created by:
melinda.fornes
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