MARKET SEGMENTATION
A group of individual with share one or more characteristics. Every market segment is unique and responds differently to a marketing offer. Marketing managers can come up with some ways on how to approach the segments separately after understanding the needs, demographics, behavioral propensities, lifestyles, and geographic relationships. These three attributes should be met to get the most essential criteria of a market segment: homogeneity, distinction, and reaction. Also called market segment.
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Tit for Tat
Game theory mechanism subject to a payoff matrix similar to a prisoner’s dilemma. Anchored on the concepts of retaliation and altruism, this ...
Nonsegregated Disclosures
Information that must be presented legally anywhere in a lease agreement. These are required by the Federal Reserve Board Regulation M. The lease a ...
Product Line
A series of related products which are all made or manufactured by the same company.
Behavioral Economics
The scientific study on how the mind thinks and how each person reacts as it relates to the process of decision making in economics of individuals ...
Infant-Industry Theory
A theory stating the emerging domestic industries must be protected against foreign competition until they become established and mature. In econom ...
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