Ba 390 Quiz 4

Front 1

two questions market segmentation answers

Back 1

who and how

Front 2

the process that companies use to divide large heterogeneous markets into small markets that can be reached more efficently and effectively

Back 2

market segmentation

Front 3

4 ways to segment consumer markets

Back 3

geographic- nations states, Demographic- age, gender, race, Psychographic- social class, lifestyles, Behavioral- knowledge and attitudes.

Front 4

5 ways to base behavioral segmentation buuul

Back 4

benefit sought, use occasions, user status, usage rate, loyalty status

Front 5

This is used to identify smaller better defined target groups, what is it

Back 5

multiple segmentation, use a combo of the four ways to segment

Front 6

whats the primary purpose of segmentation?

Back 6

companies use it to divide large markets into small markets that can be reach better

Front 7

Define the characteristics that a segment must posses in order to fulfill this purpose? DAMSA

Back 7

differentiable, acessible, measurable, substantial, actionable

Front 8

A set of buyers who share common needs or characteristics that the company decides to serve

Back 8

target market

Front 9

3 pieces of criteria that need to be considered when picking asegment to target?

Back 9

segment size and growth rate, structural attractiveness, company objectives and reources

Front 10

4 target marketing startegies MNSM

Back 10

micromarketing, niche marketing, segmented marketing, and mass marketing

Front 11

define mass marketing

Back 11

the entire market is targeted in one offer, it focuses on common needs rather than whats different

Front 12

whats segmented marketing

Back 12

targets several different market segments and designs separate offer for each

Front 13

whats niche marketing

Back 13

targets one or few well defined segments of a large market

Front 14

one problem with niche marketing

Back 14

more risky than mass or segmented marketing

Front 15

define micro marketing

Back 15

tailoring products and marketing programs to the tastes of individuals and locations

Front 16

tailoring marketing to the needs and wants of cities neighborhoods or stores

Back 16

local marketing

Front 17

tailoring marketing to the needs and preferences of individual customers

Back 17

individual marketing

Front 18

the place the product occupies in consumers minds relative to competeing products

Back 18

product position

Front 19

3 things that product position includes?

Back 19

preceptions, impressions, and feelings

Front 20

4 steps to choosing a differentiation and positioning strategy

Back 20

identify a set of competetive advantages, choose the right competetive advantages, select a positioning strategy, and develop a positioning statement

Front 21

what is a competetive advantage

Back 21

an advantage over competitors gained by offering consumers superior value

Front 22

some characteristics that a good competetive advantage should posses

Back 22

profitable, important to market, distinctive, superior, communicable, preemptive, and affordable

Front 23

the full mix of benefits upon which a brand is positioned?

Back 23

value proposition

Front 24

2 pieces to selecting a positioning strategy?

Back 24

price vs benefits

Front 25

how do you create a positioning statement.

Back 25

the goal is : to "target segment, our brand is concept that points of difference

Front 26

The position is supported by what?

Back 26

the marketing mix- product, price, promotion, place

Front 27

what is a product

Back 27

anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a need or want

Front 28

activities undertaken to create maintain, or change attitudes and behaviors of target consumers toward an organization

Back 28

organization marketing

Front 29

activities undertaken to create, maintain, or change attitudes and behavior of target consumers toward particular people

Back 29

person marketing

Front 30

activities undertaken to create, maintain, or change attitudes and behavior of consumers towards particular places

Back 30

place marketing

Front 31

this is the use of commercial marketing concept and tools in programs designed to influence individuals behavior to improve their well being and that of society

Back 31

social marketing

Front 32

describe the 3 main levels of product and services

Back 32

from out to in, augmented product-delivery/support and warranty, actual product- design/brand name, and core customer value

Front 33

2 types of products

Back 33

consumer products- products and services for personal consumption, industrial products- products purchased for futher processing or for use in a business

Front 34

4 classifications for consumer products- cuss

Back 34

convenience products, shopping products, specialty products, and unsought products

Front 35

example of a social market

Back 35

public health campaign to reduce smoking, alcholism, drug abuse. clean air human rights.

Front 36

what does social marketing try to promote

Back 36

social ideas

Front 37

what are 5 key decisions that companies have to make about each individual product

Back 37

product attribtes, branding, packaging, labeling, and product support services

Front 38

a group of products that are closely related because they function in a similar manner

Back 38

product line

Front 39

the set of all product lines and items that a particular seller offers for sale

Back 39

product mix

Front 40

the differential effect that knowing the brand name has on customer response to the product or its marketing

Back 40

brand equity

Front 41

whats brand extension

Back 41

extending an existing brand name to new product categories.

Front 42

4 characteristics of services

Back 42

service intagibility, service inseparability, service variability and service perishability

Front 43

a major characteristic of services- they cannot be stored for later sale or use

Back 43

service perishability

Front 44

services that cannot be seen, tasted, felt, heard, or smelt

Back 44

service intangibility

Front 45

services that are produced and consumed at the same time and cannot be separated from their providers

Back 45

service inseparability

Front 46

services thats quality may vary greatly, depending on who provides them and when, where , and how

Back 46

service variability

Front 47

what is internal marketing

Back 47

orienting and motivating customer contact employees and supporting service people to work as a team to provide customer satisfaction