Term
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Definition
| A group of individuals or organizations that share one or more important characteristics. |
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Definition
| The total revenue that can be obtained from the target market. |
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Definition
| The unique image of a product or service in a consumer's mind relative to the competition. |
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Definition
| The portion of total market potential that each company expects to get in relation to its competitors. |
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Term
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Definition
| How people spend their time or what gives value to their lives. |
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Term
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Definition
| The process of gaining competitive market information. |
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Term
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Definition
| Occurs when businesses emphasize marketing mix elements such as quality, brand, location, or service. |
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Term
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Definition
| The term used to divide consumers into groups based on where they live. |
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Term
| Benefits Derived Segmentation |
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Definition
| The value a customer recieves from a product or service. |
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Term
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Definition
| Takes place in a market segment with businesses that offer the same type of product or service. |
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Definition
| Occurs when a business competes with a product that is outside its product classification. |
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Term
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Definition
| Rivalry among businesses based on price and value. |
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Term
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Definition
| The term that refers to the characteristics of a market, such as age, hair color, height, and sex. |
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Term
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Definition
| The frequency with which a product is consumed. |
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