chapter 7

3. - the process of dividing a large group of consumers into subgroups based on specific characteristic and common needs
4. - rivalry among businesses on the basis of price and value
7. - business emphasizes factors of its marketing miz other than price emphasize price by developing a unique offering than meets an important customers needs
9. - the unique image of a product or service in a consumer's mind relative to a similar competitive offering
13. - people's interests and values
14. - dividing consumers into markets based on where they live
15. - the images consumers have of competing goods and services in the marketplace
16. - the total revenue that can be obtained from a market segment
17. - divided consumers into groups depending on specific values or benefits they expect or require from the use of a product or service
18. - outlines how a company will present its product or service to the consumers and how it will compete in the marketplace with other businesses offering similar products and service

1. - directs a company's marketing mix at a large and heterogeneous group of consumers
2. - new markets, as well as ways to improve a company offering in current markets, identified market with excellent potential based on careful research
5. - the descriptive characteristics of a market such as age gender race income and education
6. competition in a market with businesses that offer the same type of product or service
8. usage - now consumers frequently use products and the number of products used
9. share - the portion of the total market potential that each company expects in relation to its competitors
10. - the process of going competitive market information
11. - occurs when a business competes with other companies offering products that are not in the same product category but satisfy similar customer needs
12. - exhibitions were companies associated with an industry gather to showcase their products