2.2 Flashcards
0
Q
4 ways customers can be segmented
A
Demographics
Geographics
Psychographics
Behavioral characteristics
1
Q
The process of classifying people who form a given market into smaller groups
A
Market segmentation
2
Q
Personal characteristics
A
Demographics
3
Q
Where people live
A
Geographics
4
Q
Similar lifestyles
A
Psychographics
5
Q
Shopping patterns
A
Behavioral characteristics
6
Q
Money left after taking out taxes
A
Disposable income
7
Q
Money left after paying for basic needs
A
Discretionary income
8
Q
Involves using a single marketing strategy to reach all customers
A
Mass marketing
9
Q
Percentage of total sales volume generated by all companies
A
Market share
10
Q
Narrows and defines a market with extreme precision
A
Niche marketing
