Marketing Vocabulary #4

1. Demographics – divide market according to personal characteristics such as age, gender, income, ethnic background, education and occupation.

2. Psychographics – divide market according to a person’s lifestyle; divide consumers based on social and psychological characteristics.

3. Geographics – segmentation of the market based on where people live

4. Product benefits – segmentation according to how the product will satisfy the customer’s needs and wants (how the product will BENEFIT the customer)

5. Baby boom generation – 76 million babies born between 1946 and 1964 (after WWII)

6. Generation X – Americans born between 1965 and 1976 (40 million)

7. Generation Y – 77 million Americans born between 1977 and 1997

1. Trends – changes in personal attitudes about health, time, fun, and living in general

2. Emerge – to develop as something new

3. Obscure – not well known