| A | B |
|---|
| consumers | Those people who actually use a product. |
| market | The group of all potential customers who share common needs and wants, and who have the ability and willingness to buy the product. |
| market segmentation | Dividing the total market into smaller groups of people who share specific needs and characters. |
| disposable income | Money left after taking out taxes. |
| marketing concept | States that businesses must satifsy customers' needs and wants in order to make a profit. |
| demographics | Statistics that describe a popluation in terms of personal characteristics. |
| target marketing | Focusing all marketing decisions on the specific group of people you want to reach. |
| marketing mix | The combination of the four basic marketing strategies--product, place, price, and promotion. |
| customers | Those people who buy a product. |
| customer profile | Involves information about the target market with regard to age, income level, ethnic background, attitudes, lifestyle, and geograhpic residence. |
| geographics | Refers to segmentation of a market based on where people live. |
| psychographics | Involves the study of consumers based on lifestyle, and the attitudes and values that shape it. |
| discretionary income | Money left after paying for basic living necessities, such as food, shelter, and clothing. |
