Shared Flashcard Set

Details

Target Market
Target Market
18
Economics
7th Grade
04/15/2013

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Cards

Term
Target Market
Definition
A limited number of customers who are most likely to buy the product or service.
Term
Market Segment
Definition
Grouping of customers within a particular market that has one or more things in common.
Term
Demographics
Definition
objective social and economic facts about people.
Term
Geographics
Definition
data involving the location of the customer.
Term
Psychographics
Definition
psychological charateristic, attitudes, beliefs, and interest.
Term
Buying Patterns
Definition
customer behavior in purchasing the product or service.
Term
Marketing
Definition
A way of presenington
Term
Discount
Definition
A percent or amount of decrease in the price of an item.
Term
Example
Definition
sale price 5 original price 2 discount
Term
tip
Definition
A percent earned by a person for providing a service.
Term
Wholesale price
Definition
the price a retail store pays the manufacturer
Term
Markup
Definition
A percent or amount increase a retail store charges to earn a profit.
Term
Retail price
Definition
the price a retail store sells items to customers.
Term
Exaple
Definition
retail price wholesale price 1 markup.
Term
commission
Definition
A percent of total sales earned by an employee or business.
Term
example
Definition
commission earned 5 percent commission 3 total sales.
Term
Profit
Definition
the difference of the income and the expenses for a business.
Term
example
Definition
Profit 5 income 2 expenses.
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