Title: Unit 6 Glossary
Course: SLF 130 Marketing Practices for the Small Business > Section: SLF 130 Marketing Practices for the Small Business

Unit 6 Glossary

Terms

Term | Definitions
consumer market research | research activities designed to understand the consumer’s attitudes, needs, motivations and behaviors. By conducting consumer research, a small business can avoid costly mistakes by offering the ...
focus group | a group of consumers gathered together for the purpose of asking them questions about products, and why they buy them and how they use them. A focus group for a small business might have 5 to 8 pa ...
psychographics | the division of the market into target market groups according to consumers' lifestyle, personality, values, social clans, or other psychological variables.
target market | a group of consumers whose needs are met by the product or service and can and will purchase the product or service.