Business Definitions – T

tactics – A collection of tools, activities and business decisions required to implement a strategy.

target market – The target market is a defined segment of the market that is the strategic focus of a business or a marketing plan. Normally the members of this segment possess common characteristics and a relative high propensity to purchase a particular product or service. Because of this, the member of this segment represent the greatest potential for sales volume and frequency. The target market is often defined in terms of geographic, demographic, and psychographic characteristics.

target marketing – The process of marketing to a specific market segment or multiple segments. Differentiated target marketing occurs when an organization simultaneously pursues several different market segments, usually with a different strategy for each. Concentrated target marketing occurs when a single market segment is pursued.

tax rate percent – An assumed percentage applied against pre-tax income to determine taxes.

taxes incurred – Taxes owed but not yet paid.

telemarketing – A form of direct marketing that uses the telephone to reach potential customers.

trade margin – The difference between unit sales price and unit cost and each level of a marketing channel usually expressed in percentage terms.

trading down – The process of reducing the number of features or quality of an offering to realize a lower purchase price.

trading up – The practice of improving an offering by adding new features and higher quality materials or adding products or services to increase the purchase price.

traffic – In broad, general terms, the number of visitors and visits a website receives.

types of entrepreneurs – Entrepreneurs may be categorized into 11 areas including:

  • Solo self-employed individuals
  • Team builders
  • Independent innovators
  • Pattern multipliers
  • Economy of scale exploiters
  • Capital aggregators
  • Acquires
  • Buy – sell artists
  • Conglomerates
  • Speculators
  • Apparent value manipulators