3.03 Market Identification

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

• Demographic segmentation

• Behavioral segmentation

• Geographic segmentation

• Psychographic segmentation:

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

• Consumer market

• Market

• Target market

• Market segment

The particular group of customers a business seeks to attract

• Consumer market

• Market

• Target market

• Market segment

A customer or a potential customer who has an unfulfilled desire and is financially able and willing to satisfy that desire

• Consumer market

• Market

• Target market

• Market segment

One of the groups into which the total market is divided

• Consumer market

• Market

• Target market

• Market segment

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

• Demographic segmentation

• Behavioral segmentation

• Geographic segmentation

• Psychographic segmentation:

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

• Demographic segmentation

• Behavioral segmentation

• Geographic segmentation

• Psychographic segmentation:

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

• Demographic segmentation

• Behavioral segmentation

• Geographic segmentation

• Psychographic segmentation:

A head scarf worn in public by some Muslim women; can also be used to describe the Islamic dress code for Muslim women, which requires them to dress modestly in public

• Hoodie

• Hijab

• Cap

• Headress

A customer or potential customer who purchases items for use in the operation of a business, for resale, or for making other goods

• Target Market

• Focus Market

• Industrial market

• Business Market