ADMS 2200 Chapter Notes - Chapter 9: Census Geographic Units Of Canada, Market Segmentation, Target Market

• School: York University
• Department: Administrative Studies
• Course: ADMS 2200
• Professor: Richard Patterson

Document Summary

Market group of people with suicient purchasing power, authority, and willingness to buy. Target market group of people to whom a irm decides to direct its markeing eforts and ulimately its goods and services. Speciic group of people a irm believes is most likely to buy its goods and services. Consumer products: products bought by ulimate consumers for personal use. Business products: goods and services purchased for use either directly or indirectly in the producion of other goods and services for resale. Market segmentaion: division of the total market into smaller, relaively homogeneous groups. Role of market segmentaion: to idenify the factors that afect purchase decisions and then group consumers according to the presence or absence of these factors. These consumers are on the leading edge of change, have the highest incomes, and such high self-esteem and abundant resources that they can induldge in any or all self-orientaions.