Term
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Definition
| Purchasers and household members who intend to consume or benefit from the purchased products and do not buy products to make profits |
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Term
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Definition
| Individuals or groups that purchase a specific kind of product for resale, direct use in producing other products, or use in general daily operations |
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Term
| undifferentiated targeting strategy |
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Definition
| A strategy in which an organization designs a single marketing mix and directs it at the entire market for a particular product |
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Term
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Definition
| A market in which a alrge proportion of customers have similar needs for a product |
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Term
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Definition
| Markets made up of individuals or organizations with diverse needs for products in a specific product class |
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Term
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Definition
| The process of dividing a total market into groups with relatively similar product needs to design a marketing mix that matches those needs |
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Term
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Definition
| Individuals, groups, or organizations with one or more similar characteristics that cause them to have similar product needs |
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Term
| concentrated targeting strategy |
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Definition
| A strategy in which an organization targets a single market segment using one marketing mix |
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Term
| differentiated targeting strategy |
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Definition
| A strategy in which an organization targets two or more segments by developing a marketing mix for each |
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Term
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Definition
| Characteristics of individuals, groups, or organizations used to divide a market into segments |
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Term
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Definition
| The number of potential customers within a unit of land area |
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Term
| geodemographic segmentation |
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Definition
| Marketing segmentation that clusters people in zip code areas and smaller neighborhood units based on lifestyle and demographic information |
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Term
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Definition
| An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets |
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Term
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Definition
| The division of a market according to benefits that customers want from the product |
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Term
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Definition
| The total amount of a product that customers will purchase within a specified period at a specific level of industrywide marketing activity |
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Term
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Definition
| The maximum percentage of market potential that an individual firm can expect to obtain for a specific product |
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Term
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Definition
| Measuring company sales potential based ona general economic forecast for a specific period and the market potential derived from it |
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Term
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Definition
| Measuring company sales potential by estimating how much of a product a potential buyer in a specific geographic area will purchase in a given period, multiplying the estimate by the number of potential buyers, and addingthe totals of all the geographic areas considered |
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