3. Markets - CHAPTER 3 MARKETS MARKETS Definition of...

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    CHAPTER 3 MARKETS
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    MARKETS Definition of Markets Consumer Market Segments Grey Markets
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    DEFINITION OF MARKETS Buyers Ability to Buy Willingness to  Buy
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    BUYERS Consumer Markets Families Individuals Business Markets Business Government
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    CHARACTERISTICS OF  MARKETS Consumer                            Business Many buyers                       Few buyers Small purchases                  Large purchases Direct demand                    Derived demand
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    DERIVED DEMAND U.S. Steel                  Ford                 Buyer The amount of steel sold by U.S. Steel to Ford is derived (influenced) by how many cars Ford sells. Intel                          Dell                   Buyer The number of computer chips sold by Intel to Dell  is derived by how many PC’ s Dell sells.
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    ABILITY TO BUY Income Credit/Debit Bartering
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    CONSUMER INCOME Gross Income – Total income before any  deductions Disposable Income – Total income minus  taxes Discretionary Income – Total income  minus taxes and basic needs
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This note was uploaded on 02/16/2009 for the course BUSINES 3336 taught by Professor Cox during the Spring '09 term at Houston Baptist.

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3. Markets - CHAPTER 3 MARKETS MARKETS Definition of...

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