According to this concept, customer needs and company capabilities converge to form the prospect's definition of value.
Introduced the marketing concept-"find a need and fill it."
More accurate characterizations of people than any single variable would be.
With a wider mix of backgrounds and different experiences, they will challenge marketers to start to figure how to impress them.
Also known as Gen-Yers; is a generation that savvy carmakers have already started to cater to with uniquely designed cars.
Ranks the top 150 consumer test market areas in the U.S.A.
Approach used when designing an advertising message for everyone who has money without regard to particular demographics or psychographics.
People born from 1965 through 1982 who are more cautious entering the family formation stage but when they do, they will be more obligation-bound parents.
Term applied to the assumption that every product must be aimed at and acceptable to most consumers.
Produces an annual Consumer Expenditure Survey that estimates household spending on hundreds of items, cross-tabulated by demographic characteristics.
Some companies that provide geodemographic services that can provide details about consumers and their purchasing behavior based on their home addresses.
Taking an entire set of consumers and dividing them into groups whose similarities make them a market for products that service their needs.
For a marketer, it is helpful in projecting market size; since 1960, it has been in decline.
Term coined by columnist David Brooks that stands for bourgeois bohemian.
A type of lifestyle segmentation that identifies consumers according to their interests, activities, and opinions.
