Chapter 3 - Markets - CHAPTER3 MARKETS MARKETS...

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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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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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U.S. RETAIL SALES BY PAYMENT Store Payment        1995          2003        2008 Cash                      60%         32% 20% Checks                   30%         15% 0%
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Chapter 3 - Markets - CHAPTER3 MARKETS MARKETS...

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