Public transportPublic transport (also known as public transportation, public transit, mass transit, or simply transit) is a system of transport for passengers by group travel systems available for use by the general public unlike private transport, typically managed on a schedule, operated on established routes, and that charge a posted fee for each trip. There is no rigid definition of which kinds of transport are included, and air travel is often not thought of when discussing public transport—dictionaries use wording like "buses, trains, etc.
Law of demandIn microeconomics, the law of demand is a fundamental principle which states that there is an inverse relationship between price and quantity demanded. In other words, "conditional on all else being equal, as the price of a good increases (↑), quantity demanded will decrease (↓); conversely, as the price of a good decreases (↓), quantity demanded will increase (↑)". Alfred Marshall worded this as: "When we say that a person's demand for anything increases, we mean that he will buy more of it than he would before at the same price, and that he will buy as much of it as before at a higher price".
DemandIn economics, demand is the quantity of a good that consumers are willing and able to purchase at various prices during a given time. The relationship between price and quantity demand is also called the demand curve. Demand for a specific item is a function of an item's perceived necessity, price, perceived quality, convenience, available alternatives, purchasers' disposable income and tastes, and many other options. Innumerable factors and circumstances affect a consumer's willingness or to buy a good.
Share taxiA share taxi (also called shared taxi or taxibus) is a mode of transport which falls between a taxicab and a bus. These vehicles for hire are typically smaller than buses and usually take passengers on a fixed or semi-fixed route without timetables, but instead departing when all seats are filled. They may stop anywhere to pick up or drop off their passengers. Often found in developing countries, the vehicles used as share taxis range from four-seat cars to minibuses. They are often owner-operated.
Free public transportFree public transport, often called fare-free public transit or zero-fare public transport, refers to public transport funded in full by means other than by collecting fares from passengers. It may be funded by national, regional or local government through taxation, or by commercial sponsorship by businesses. Alternatively, the concept of "free-ness" may take other forms, such as no-fare access via a card which may or may not be paid for in its entirety by the user.
Public transport bus servicePublic transport bus services are generally based on regular operation of transit buses along a route calling at agreed bus stops according to a published public transport timetable. Stagecoach While there are indications of experiments with public transport in Paris as early as 1662, there is evidence of a scheduled "bus route" from Market Street in Manchester to Pendleton in Salford UK, started by John Greenwood in 1824. Another claim for the first public transport system for general use originated in Nantes, France, in 1826.
Market segmentationIn marketing, market segmentation is the process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers (known as segments) based on shared characteristics. In dividing or segmenting markets, researchers typically look for common characteristics such as shared needs, common interests, similar lifestyles, or even similar s.
High frequencyHigh frequency (HF) is the ITU designation for the range of radio frequency electromagnetic waves (radio waves) between 3 and 30 megahertz (MHz). It is also known as the decameter band or decameter wave as its wavelengths range from one to ten decameters (ten to one hundred meters). Frequencies immediately below HF are denoted medium frequency (MF), while the next band of higher frequencies is known as the very high frequency (VHF) band. The HF band is a major part of the shortwave band of frequencies, so communication at these frequencies is often called shortwave radio.
Target marketA target market, also known as serviceable obtainable market (SOM), is a group of customers within a business's serviceable available market at which a business aims its marketing efforts and resources. A target market is a subset of the total market for a product or service. The target market typically consists of consumers who exhibit similar characteristics (such as age, location, income or lifestyle) and are considered most likely to buy a business's market offerings or are likely to be the most profitable segments for the business to service by OCHOM Once the target market(s) have been identified, the business will normally tailor the marketing mix (4 Ps) with the needs and expectations of the target in mind.
Marketing researchMarketing research is the systematic gathering, recording, and analysis of qualitative and quantitative data about issues relating to marketing products and services. The goal is to identify and assess how changing elements of the marketing mix impacts customer behavior. This involves specifying the data required to address these issues, then designing the method for collecting information, managing and implementing the data collection process.
Peak demandPeak demand on an electrical grid is simply the highest electrical power demand that has occurred over a specified time period (Gönen 2008). Peak demand is typically characterized as annual, daily or seasonal and has the unit of power. Peak demand, peak load or on-peak are terms used in energy demand management describing a period in which electrical power is expected to be provided for a sustained period at a significantly higher than average supply level. Peak demand fluctuations may occur on daily, monthly, seasonal and yearly cycles.
Market researchMarket research is an organized effort to gather information about target markets and customers: know about them, starting with who they are. It is an important component of business strategy and a major factor in maintaining competitiveness. Market research helps to identify and analyze the needs of the market, the market size and the competition. Its techniques encompass both qualitative techniques such as focus groups, in-depth interviews, and ethnography, as well as quantitative techniques such as customer surveys, and analysis of secondary data.
BusA bus (contracted from omnibus, with variants multibus, motorbus, autobus, etc.) is a road vehicle that carries significantly more passengers than an average car or van. It is most commonly used in public transport, but is also in use for charter purposes, or through private ownership. Although the average bus carries between 30 and 100 passengers, some buses have a capacity of up to 300 passengers. The most common type is the single-deck rigid bus, with double-decker and articulated buses carrying larger loads, and midibuses and minibuses carrying smaller loads.
Super high frequencySuper high frequency (SHF) is the ITU designation for radio frequencies (RF) in the range between 3 and 30 gigahertz (GHz). This band of frequencies is also known as the centimetre band or centimetre wave as the wavelengths range from one to ten centimetres. These frequencies fall within the microwave band, so radio waves with these frequencies are called microwaves. The small wavelength of microwaves allows them to be directed in narrow beams by aperture antennas such as parabolic dishes and horn antennas, so they are used for point-to-point communication and data links and for radar.
Demand curveIn a demand schedule, a demand curve is a graph depicting the relationship between the price of a certain commodity (the y-axis) and the quantity of that commodity that is demanded at that price (the x-axis). Demand curves can be used either for the price-quantity relationship for an individual consumer (an individual demand curve), or for all consumers in a particular market (a market demand curve). It is generally assumed that demand curves slope down, as shown in the adjacent image.
Target audienceA target audience is the intended audience or readership of a publication, advertisement, or other message catered specifically to said intended audience. In marketing and advertising, it is a particular group of consumer within the predetermined target market, identified as the targets or recipients for a particular advertisement or message. Businesses that have a wide target market will focus on a specific target audience for certain messages to send, such as The Body Shops Mother's Day advertisements, which were aimed at the children and spouses of women, rather than the whole market which would have included the women themselves.
Aggregate demandIn macroeconomics, aggregate demand (AD) or domestic final demand (DFD) is the total demand for final goods and services in an economy at a given time. It is often called effective demand, though at other times this term is distinguished. This is the demand for the gross domestic product of a country. It specifies the amount of goods and services that will be purchased at all possible price levels. Consumer spending, investment, corporate and government expenditure, and net exports make up the aggregate demand.
Flexible-fuel vehicleA flexible-fuel vehicle (FFV) or dual-fuel vehicle (colloquially called a flex-fuel vehicle) is an alternative fuel vehicle with an internal combustion engine designed to run on more than one fuel, usually gasoline blended with either ethanol or methanol fuel, and both fuels are stored in the same common tank. Modern flex-fuel engines are capable of burning any proportion of the resulting blend in the combustion chamber as fuel injection and spark timing are adjusted automatically according to the actual blend detected by a fuel composition sensor.
Geographic mobilityGeographic mobility is the measure of how populations and goods move over time. Geographic mobility, population mobility, or more simply mobility is also a statistic that measures migration within a population. Commonly used in demography and human geography, it may also be used to describe the movement of animals between populations. These moves can be as large scale as international migrations or as small as regional commuting arrangements. Geographic mobility has a large impact on many sociological factors in a community and is a current topic of academic research.
Mass marketThe term "mass market" refers to a market for goods produced on a large scale for a significant number of end consumers. The mass market differs from the niche market in that the former focuses on consumers with a wide variety of backgrounds with no identifiable preferences and expectations in a large market segment. Traditionally, businesses reach out to the mass market with advertising messages through a variety of media including radio, TV, newspapers and the Web.
