| A | B |
|---|
| Market | The group of potential customers who have similar needs and wants. |
| Market Segmentation | Dividing the total market into a smaller one with similar key characteristics. |
| Target Marketing | Identifying market segments with the greatest potential for sales. |
| Target Market | Potential customers identified as most likely to buy the product. |
| Geographic Segmentation | Dividing markets by where customers are located. |
| Demographic Segmentation | Dividing markets by personal characteristics people have in common. |
| Psychographic Segmentation | Dividing markets by identifying common characteristics that people have in common. |
| Behavioral Segmentation | Dividing markets by identifying common responses to products and their features. |
| Market Potential | The total amount of revenue that can potentially be generated in a specific industry or market. |
| Market Share | The percentage of the total sales revenue captured by a firm within a market or industry. |
| Market Position | The perceived standing of a firm or a product in the minds of customers as compared to the competition. |
| Measurable, substantial, reachable, responsive | Characteristics a market segment must have to be worth targeting |
| Average market share | Total sales volume/number of competitors in a market |
