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2.2 - Psychographics – Involves studies of consumers...

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2.2 Market Segmentation – A way of analyzing a market by specific characteristics in order to create a target market Demographics – Refers to statistics that describe a population in terms of personal characteristics Baby Boom Generation – The 76 million babies born in the United States between 1946 and 1964 Generation X – The more than 40 million Americans born between 1965 and 1976 Generation Y – The 77 million Americans born between 1977 and 1997 Disposable Income – The money left after taking out taxes Discretionary Income – The money left after paying for basic living necessities such as food, shelter, and clothing
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Unformatted text preview: Psychographics – Involves studies of consumers based on social and psychological characteristics Geographic’s – Refers to segmentation of the market based on where people live Demographics include age, gender, income, ethnic background Try to build brand loyalty at teens Market towards trends that occur, such as 21 st century is healthy lifestyles so, whole wheat product. Market towards biggest ethnic group in a given area....
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