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16 Cards in this Set

  • Front
  • Back
market segments
relatively homogenous groups of prospective buyers that result from the market segmentation process
product differentiation
firm's using different marketing mix activities, product features and advertising, to help consumers perceive the product as being different and better than competing products
market-product grid
framework to relate the market segments of potential buyers to products offered or pot. marketing actions by the firm
increased customer value achieved through performing organizational functions more efficiently
criteria for forming segments:
potential for increased profit, similarity of needs of potential buyers among segments, difference of needs of buyers among segments, potential of a marketing action to reach a segment, simplicity and cost of sassigning pot. buyers to segments
usage rate
quantity consumed or patronage during a specific period
80/20 rule
80% of a firm's sales are obtained from 20% of its customers
perceptual map
means of display/graph in 2 dimensions the location of products/brands relative to its own and then take marketing actions
market/industry potential
max total sales of a product by all firms to a segment during a specified time pd. under specified environmental conditions and marketing efforts of the firms
sales/company forcast
total sales of a product that a firm expects to sell during a specified time pd under specified environmental conditions and its own marketing efforts
direct forecast
estimating the value to be forecast without any intervening steps
lost-horse forcast
uses last known value and modifies it according to pos/neg factors expected in the future
survey of buyers' intentions forecast
asking prospective customers if they are likely to buy the product during some future time pd.
salesforce survey forecast
asking firms' salespeople to est. sales during a coming pd.
trend extrapolation
extending a pattern observed in past data into the future
linear trend extrapolation
when pattern is straight line