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9 Cards in this Set
- Front
- Back
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target markets
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A target market refers to people with a defining set of characteristics that set them apart as a group
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Market segmentation
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five categories of consumer variables.
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Geographic
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Location, climate, city size
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demographic
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current statistical characteristics of a population
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psycographic
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lifestyle, personality traits
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benefits
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desired features of a product
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product usage
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how they use the product how often and why?
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80/20 rule
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80 percent of business comes from 20% of the customers
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Niche marketing
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subset of a market in which a specific product is bneing focused on.
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