reference group Meaning in the Cambridge English Dictionary
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Meaning of “reference group” in the English Dictionary

"reference group" in Business English

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reference groupnoun [C]

uk   us  
MARKETING a ​group of ​people that ​influences the decisions and ​opinions of a ​person or ​group: Whether a ​personfeltrich or ​poor compared to their ​referencegroup was also a way of ​predictingspendingbehaviour.
a ​group that ​advises a ​company or an ​organization on a particular ​subject: a consumerreferencegroup The Government intended to ​form an industryreferencegroup to ​provideexpertadvice.
a ​group to which a ​person or another ​group is compared when you are ​studying the ​effects of something: They ​studied the difference between the industry's ​growth in the country as a whole, and the same industry's ​growth in the appropriate ​referencegroup. Children of ​householdsclassified as having high or ​intermediateincome were used as the ​referencegroup.
(Definition of reference group from the Cambridge Business English Dictionary © Cambridge University Press)
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