Entrepreneurship Unit 3 Vocab

An economic and sociological measure of a person’s income, education, and occupation.

The identification and selection of markets for a business or for a product.

The division of a market on the basis of its physical and social characteristics.

A customer who purchases items for use in the operation of a business.

The particular group of customers a business seeks to attract.

The division of a total market into smaller, more specific groups.

The way in which people lead daily lives; determined by income, interests, & activities.

The division of a market on the basis of customers’ lifestyles and personalities.

The division of a market on the basis of where customers are located.

Directing marketing to appeal to the whole market; aka undifferentiated marketing.

A customer or potential customer who purchases goods or services to satisfy personal desires.

The classification of customers into similar groups to appeal to 1 or more individual segments.

The division of a market on the basis of customers’ response to a product.

A customer who has an unfulfilled desire & is financially able & willing 2 satisfy that desire.

An individual’s qualities or traits and behavior.

One of the groups into which the total market is divided.