Defining the specialized niche of the market to whom the company wishes to make its greatest appeal is called...

This involves dividing the total market into smaller groups that contain similar characteristics.

The process of carrying a product idea through stages from initial conceptualization to actual appearance in the market.

The hiring of independent specialists to do particular work, rather than using company employees.

Vital statistics of human populations, broken down by such factors as age, gender, race, education, religion, income and occupation are known as...

Statistics that try to explain consumer behavior through such variables wuch as lifetyle, values, attitudes and self-concept.

The process of systematically gathering and analyzing information relating to a particular market.

Cooperative interaction of parts that results in a total effect that is greater than the sum of the parts added together separately.

An increase in the size of the entire market (i.e. more products are sold an there are higher total sales).

The part of the total market controlled by sales, usually computed by percentage of sales in relation to the total industry.

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