Chapter 2 - Markets (2)

Chapter 2 - Markets (2) - CHAPTER 2 MARKETS MARKETS...

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CHAPTER 2 MARKETS
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MARKETS Definition of Markets Consumer Market Segments Gray Markets
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DEFINITION OF MARKETS Buyers Ability to Buy Willingness to Buy
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BUYERS Consumer Markets Business Markets
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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 EXAMPLES Intel chips Dell computers US Steel Chevrolet Briggs & Stratton Toro Mower
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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 2010 Cash 60% 20% Checks 30% 0% Credit/Debit Cards 10% 80%
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AVERAGE CREDIT CARD DEBT (per U.S. Household) 1996 $5,875 2001 $8,234 2008 $10,600
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CREDIT/DEBIT PROBLEM Student Loans NINJA Loans Overdraft Fees
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BARTERING Negotiated exchange of products and services for other products or services instead of cash or credit
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Chapter 2 - Markets (2) - CHAPTER 2 MARKETS MARKETS...

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