Entrepreneurship Unit 2

Behavioral Segmentation

Used to identify purchasing behavioral patterns of customers

Customer Profile

Captures geographic, demographic, psychographic, and behavioral characteristics

Demographic Segmentation

the division of a market using statistical data

Geographic Segmentation

The unique needs and wants of people in geographic areas to create and market product

Market Identification

To discover where, how, and with whom a business will be most profitable when selling

Market Segmentation

Used to narrow a market into small, specific groups.

Market Share

The percentage of the market for a product or service that a company supplies

Marketing

The process or technique of prom sting, selling, and distributing a product or service

Marketing Concept

A method of selling that involves analyzing customer wants and needs and aiming to fulfill them better then competitors

Psychographic Segmentation 

The lifestyle analysis of customer values, attitudes, and preferences, assists marketers in predicting psychological influences and purchasing priorities

SWOT Analysis

A business tool that evaluates a companies strengths, weaknesses, opportunities, and threats

Target Market

The specific group of people a business will sell too