SEM - Ch 4 Test

Front

Definition: respect & recognition

Back

Esteem Needs

Front

Definition: divides markets into physical locations [customers in Canada (inner city)]

Back

Geographic Segmentation

Front

Definition: Revenue earned beyond the breakeven point

Back

Profit

Front

Definition: what products you use and how often

Back

Product Usage

Front

Definition: all of the consumers who will purchase a product or service

Back

Target Market

Front

Definition: the capability to produce products or services more efficiently and economically than the competition

Back

Comparative Advantage

Front

Definition: define wants & needs, assess priorities & budget, conduct research, compare alternatives, make a well thought out purchase

Back

Rational Purchases

Front

Definition: specific group of consumers you want to reach, the first step of marketing a product

Back

Target Market

Front

Definition: information that can be measured (age, income, profession, gender, education, marital status, & household size)

Back

Demographic Segmentation

Front

Definition: physical safety and economic security

Back

Security Needs