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Int. Business Vocab Ch 16

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Term
Definition
consumer market   individuals & households who are the final users of goods & services  
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demographics   the traits of a country's population such as birthrate, age distribution, marriage rate, gender distribution, education level, & housing situation  
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dstribution   the activities needed to physically move & transfer ownership of goods & services from producer to consumer  
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international marketing   marketing activites among sellers & buyers in different countries  
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market   the likely customers for a good or service in a certain geographic location  
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market segment   a distinct subgroup of customers who share certain personal or behavioral characteristics  
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marketing mix   the four major marketing elements of product, price, distribution (place), & promotion  
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organizational market   buyers who purchase items for resale or additional production  
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price   the monetary value of a product agrees upon by a buyer & a seller  
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product   an item (good or service) being offered for sale that satisfies consumer demand  
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promotion   the marketing efforts that inform & persuade customers  
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psychographics   buying factors related to lifestyle & psychological influences, such as activities, interests, & opinions  
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target market   the particular market segment that a company plans to serve  
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