| A | B |
|---|
| market segment | consumers within a market who share one or more characteristics |
| target market | specific group of consumers you want to reach |
| market segmentation data can | improve business decision making |
| marketers must identify | the market segment to which they want to sell |
| markets may be segmented | in many ways |
| geographic segmentation | divides markts into physical locations |
| geographic segmentation even occurs | within a single city |
| demographic segmentation | age, income, profession, gender, education etc. |
| psychographics | values, interests, and lifestyle choices |
| behavioral-based segmentation | focuses on a customer's attitude toward products and services |
| product usage | reflects what products you use and how often |
| benefits derived | satisfaction of spending time with the family |
| market share | % of total sales of a product or service that a co. expects to capture |
| teen dollars | a market segment that is constantly changing |
| senior citizens | this group is living longer and longer |
| research is conducted to | determine who is spending money and how much |
| the first step in marketing a product | determining who the customer is for a product |
| it is impossible | to satisfy the wants and needs of every customer |
| marketing information | people prefer plastic bottles to cups |
| marketers may want to develop | separate proimotions for different market segments |
