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Marketing And Business > 2.2 > Flashcards

2.2 Flashcards

(11 cards)

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0
Q

4 ways customers can be segmented

A

Demographics
Geographics
Psychographics
Behavioral characteristics

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1
Q

The process of classifying people who form a given market into smaller groups

A

Market segmentation

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2
Q

Personal characteristics

A

Demographics

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3
Q

Where people live

A

Geographics

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4
Q

Similar lifestyles

A

Psychographics

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5
Q

Shopping patterns

A

Behavioral characteristics

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6
Q

Money left after taking out taxes

A

Disposable income

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7
Q

Money left after paying for basic needs

A

Discretionary income

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8
Q

Involves using a single marketing strategy to reach all customers

A

Mass marketing

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9
Q

Percentage of total sales volume generated by all companies

A

Market share

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10
Q

Narrows and defines a market with extreme precision

A

Niche marketing

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Marketing And Business (5 decks)

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