| A | B |
|---|
| benefit segmentation | divides consumers into groups depending on specific values or benefits they expect to require from the use of a product or service |
| consumer perceptions | the images consumers have of competing goods and services in the marketplace |
| demographics | the descriptive characteristics of a market such as age, gender, race, income, and educational level |
| direct competition | competition in a market with businesses that offer the same type of product or service |
| geographic segmentation | dividing consumers into markets based on where they live |
| indirect competition | occurs when a business competes with other companies offering products that are not in the same product category but satisfy similar customer needs |
| market intelligence | the process of gaining competitive market information |
| market opportunity | an identified market with excellent potential based on careful research |
| market position | the unique image of a product or service in a consumer''s mind relative to similar competitive offerings |
| market potential | the total revenue that can be obtained from the market segment |
| market segmentation | the process of dividing a large group of consumers into subgroups based on specific characteristics and common needs |
| market share | the portion of the total market potential that each company expects in relation to its competitors |
| mass marketing | directs a company''s marketing mix at a large and heterogeneous group of consumers |
| non-price competition | when businesses decide to emphasize factors of their marketing mix other than price |
| price competition | rivalry among businesses on the basis of price and value |
| product usage | how frequently consumers use products and the quantity of product used |
| psychographics | people''s interests and values |
| trade shows | exhibitions where companies associated with an industry gather to showcase their products |
