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16 Cards in this Set
- Front
- Back
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market segments
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relatively homogenous groups of prospective buyers that result from the market segmentation process
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product differentiation
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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
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market-product grid
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framework to relate the market segments of potential buyers to products offered or pot. marketing actions by the firm
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synergy
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increased customer value achieved through performing organizational functions more efficiently
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criteria for forming segments:
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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
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usage rate
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quantity consumed or patronage during a specific period
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80/20 rule
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80% of a firm's sales are obtained from 20% of its customers
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perceptual map
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means of display/graph in 2 dimensions the location of products/brands relative to its own and then take marketing actions
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market/industry potential
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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
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sales/company forcast
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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
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direct forecast
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estimating the value to be forecast without any intervening steps
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lost-horse forcast
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uses last known value and modifies it according to pos/neg factors expected in the future
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survey of buyers' intentions forecast
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asking prospective customers if they are likely to buy the product during some future time pd.
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salesforce survey forecast
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asking firms' salespeople to est. sales during a coming pd.
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trend extrapolation
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extending a pattern observed in past data into the future
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linear trend extrapolation
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when pattern is straight line
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