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Market- a group of potential customers with similar needs who are willing to exchange something of value with sellers offering various goods or services- that is, ways of satisfying those needs.
Generic market- a market with broadly similar needs- and sellers offering various and often diverse ways of satisfying those needs.
Product-market- a market with very similar needs- and sellers offering various close substitute ways of satisfying those needs.
Segmenting- an aggregating process that clusters people with similar needs into market segment.
Market segment- a relatively homogeneous group of customers who will repond to a marketing mix in a similar way.
Single market target approach- segmenting the market and picking one of the homogeneous segments as the firms target market.
Multiple target market approach- segmenting the market and choosing two or more segments, then treating each as a separate target market needing a different marketing mix.
Combined target market approach- combining two or more submarkets into one larger target market as a basis for one strategy.
Combiners- firms that try to increase the size of their target markets by combining two or more segments.
Segmenters- aim at one or more homogeneous segments and try to develop a different marketing mix for each segment.
Qualifying dimensions- the dimensions that are relevant to including a customer type in a product market.
Determining dimensions- the dimensions that actually affect the customers purchase of a specific product or brand in a product-market.
Clustering techniques- approaches used to try to find similar patterns within sets of data.
Customer relationship management (CRM)- an approach where the seller fine-tunes the marketing effort with information from a detailed customer database.
Positioning- an approach that refers to how customer think about proposed

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