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DEMOGRAPHIC VARIABLES: Characteristics of the aggregate population that marketers use to segment the market, including age, ethnicity, income, education, gender, and race. Other characteristics include occupation, family size, religion, and social class. These characteristics are the link to buyers' wants and needs and affect purchasing behavior. By carefully studying population groups marketers develop marketing mixes that maximize customer activity.
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PRODUCT DIFFERENTIATION Slight differences that exist between two or more goods that are essentially the same and which satisfy the same basic want or need. This is generally pursued in monopolistic competition and oligopoly by firms seeking to increase sales and profit. Many of the best known businesses in the economy practice product differentiation to gain an advantage on the competition and to acquire a bit of market control. For example, Coca-Cola and Pepsi-Cola are very similar, but each has a few differences in terms of taste, packaging, and esteem.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet hoping to buy either a small palm tree that will fit on your coffee table or several magazines on fashion design. Be on the lookout for strangers with large satchels of used undergarments.
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This isn't me! What am I?
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Francis Bacon (1561-1626), a champion of the scientific method, died when he caught a severe cold while attempting to preserve a chicken by filling it with snow.
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"The victory of success is half won when one gains the habit of setting goals and achieving them. Even the most tedious chore will become endurable as you parade through each day convinced that every task, no matter how menial or boring, brings you closer to fulfilling your dreams." -- Og Mandino, Author and Speaker
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M2
M1 plus savings types of near monies, including savings deposits, certificates of deposits, money market deposits, repurchase agreements, and Eurodollars
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