9
Contents
Part Three
Marketplace
Dynamics
Who are your customers?
14
A Diverse Marketplace 
168
Cultural Differences  169
Social Classes  172
Demographic Changes  172
Social Changes  174
International Trade  177
Beware of Stereotyping  177
Ashley Sierra Reed—
Shining Star of ASR
Collections  178
15
Targeting a Market 
182
Marketing Strategy  183
Mass Marketing  185
Target Marketing  186
Choosing Your Target Market  188
Advantages and Disadvantages of
Targeting a Market  189
16
Segmenting a Market 
193
Market Segmentation  193
Geographic Variables  195
Demographic Variables  196
Psychographic Variables  198
Behavioral Variables  200
Combining Variables  201
Market Segment Profile  201
17
Understanding Consumer
Behavior 
205
Psychological Influences  205
Social Influences  208
Situational Influences  211
The Consumer Decision Process  211
18
Business Customers 
215
What Do Businesses Buy?  215
Segmenting the Business Market  216
The Business Buying Decision  218
The Business Decision Process  219
Levels of Buying Decisions  220
Influences on Business Buyers  221
19
Competition 
224
Monopoly vs. Competition  224
Ways to Compete  227
Market Share  228
How to Find Market Data  229
Why Is Market Share Important?  229
Competition Research  230
20
Marketing Research 
235
Types of Data  236
Collecting Primary Data  237
Sources of Secondary Data  240
Marketing Research Process  242
Trend Research  242
Sales Forecasting  244
Is Marketing Research Always
Right?  245