Chapter 6 Flashcards
the stage an individual goes through from being single to being a sole survivor
family life cycle
to market people by zip codes or neighborhood units based on lifestyle and demographics information
geodemographic segmentation
the total amount of a product that customers will purchase within a specified period at a specific level of industry
market potential
the amount of a product a company expects to sell during a specific period
sales forecast
a sales forecasting method based on the intuition of one or more executives
executive judgment
a forecasting method that uses historical sales data + discover patterns
times series analysis
a method of predicting sales based on relationship between past sales and one or more independent variable
regression analysis
making a product available to buyers in one or more test areas
market test
