Consumers - Those people who actually use a product., Market - The group of all potential customers who share common needs and wants, and who have the ability and willingness to buy the product., Market Segmentation - Dividing the total market into smaller groups of people who share specific needs and characteristics., Marketing Concept - States that business must satisfy customers' needs and wants in order to make a profit. , Demographics - Statistics that describe a population in terms of personal characteristics, Target Market - Focusing all marketing decisions on the specific group of people you want to reach. , Marketing Mix - The combination of the four basic marketing strategies - product, price, place, and promotion, Customers - Those who buy a product, Geographics - Refers to segmentation of a market based on where people live., Psychographics - Involves the study of consumers based on lifestyle, and the attitudes and values that shape it. , Wholesalers - Those who buy large quantities of goods from manufactureers and store the goods to resell them to other businesses and consumers., Channel of distribution - Path a product takes from the producer or manufacturer to the consumer, Tangible products - These are items with an actual physical presence such as a car, an electronic device, and an item of clothing or a consumer good., Variable costs - The costs that are directly associated with the sales volume of your product.,

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