Term
|
Definition
| Products bought by ultimate consumers for personal use |
|
|
Term
|
Definition
| Goods and services purchased for use either directly or indirectly in the production of other goods and services for resale |
|
|
Term
|
Definition
| Division of the total market into smaller, relatively homogeneous groups |
|
|
Term
|
Definition
| Division of an overall market into homogeneous groups based on their locations |
|
|
Term
| core based statistical area (CBSA) |
|
Definition
| Collective term for metropolitan and micropolitan statistical areas |
|
|
Term
| metropolitan statistical area (MSA) |
|
Definition
| Freestanding urban area with a population in the urban center of at least 50,000 and a total MSA population of 100,000 or more |
|
|
Term
| micropolitan area statistical area |
|
Definition
| Area with at least one town of 10,000 to 49,999 people with proportionally few of its residents commuting to outside the area |
|
|
Term
| consolidated metropolitan statistical area (CMSA) |
|
Definition
| Urban area that includes two or more PMSAs |
|
|
Term
| primary metropolitan statistical area (PMSA) |
|
Definition
| Urbanized county or set of counties with social and economic ties to nearby areas |
|
|
Term
|
Definition
| Region from which most major brands get 40 to 80 precent of their sales |
|
|
Term
| geographic information systems (GISs) |
|
Definition
| Software packages that assemble, store, manipulate, and display data by their location |
|
|
Term
|
Definition
| Division of an overall market into homogeneous groups based on variables, such as gender, age, income, occupation, education, sexual orientation, household size, and stage in the family lifecycle; also called socioeconomic segmentation |
|
|
Term
|
Definition
| Tendency of members of a generation to be influenced and bound together by events occurring during their key formative years - roughly ages 17-22 |
|
|
Term
|
Definition
| A cohort whose preferences and behaviors were being shaped at the same time as video games |
|
|
Term
|
Definition
| Process of family formation and dissolution |
|
|
Term
|
Definition
| Three ovservatons about the impact of household income on consumer behavior; as household income increases, a smaller precentage of expenditures goes for food; the percentage spent on housing, household operations, and clothing remains constant; and the percentage spent on other items (such as recreation and education) increases |
|
|
Term
| psychographic segmentation |
|
Definition
| Division of a population into groups having similar attitudes, values, and lifestyles |
|
|
Term
|
Definition
| Items on lifestyle surveys that describe various activities, interests, and respondents' opinions |
|
|
Term
|
Definition
| Segmentation system that divides consumers into eight psychographic categories: innovators, thinkers, achievers, experiencers, believers, strivers, makers, and survivors |
|
|
Term
| product-related segmentation |
|
Definition
| Division of a population into homogeneous groups based on their relationships to a product |
|
|
Term
| Undifferentiated marketing |
|
Definition
| Strategy that focuses on producing a single product and marketing it to all customers; also called mass marketing |
|
|
Term
|
Definition
| Strategy that focuses on producing several products and pricing, promoting, and distributing them with different marketing mixes designed to satisfy smaller segments |
|
|
Term
| concentrated marketing (niche marketing) |
|
Definition
| Focusing marketing efforts on satisfying a single market segment |
|
|
Term
|
Definition
| Targeting potential customers at very narrow, basic levers, such as by zip code, specific occupation, or lifestyle - possibly even individuals themselves |
|
|
Term
|
Definition
| Placing a product at a certain point or location within a market in the minds of prospective buyers |
|
|
Term
|
Definition
| Tool that helps marketers place products in a market by graphically illustrating consumer's perceptions of competing products within an industry |
|
|
Term
|
Definition
| Changing the position of a product within the minds of prospective buyers relative to the positions of competing products |
|
|
