Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
13 Cards in this Set
- Front
- Back
|
Market Segmentation |
Aggregates potential buyers into groups that have common needs and will respond similarly to a marketing action |
|
|
Market Segments |
The relatively homogeneous groups of prospective buyers that result from the market segmentation process |
|
|
Product Differentiation |
The strategy of using different marketing mix activities to help consumers perceive a product as being different and better than competing products |
|
|
Mass Customization |
tailoring goods or services to the tastes of individual customers on a high-volume scale |
|
|
Build To Order |
manufacturing a product only when there is an order from a customer. Ex: Dell, Apple |
|
|
Organizational Synergy |
The increased customer value achieved through performing organizational functions such as marketing or manufacturing more efficiently |
|
|
Cannibalization |
New products or supply chains stealing customers from the old ones |
|
|
Segmentation Bases |
Geographic Demographic Psychographic Behavorial |
|
|
Usage Rate |
The quantity consumed or the number of store visits during a specific period |
|
|
80/20 Rule |
The idea that 80% of a firm's sales are obtained from 20% of its customers |
|
|
Market/ Product Grid |
A framework relating the segments of a market to the products or marketing actions of the firm |
|
|
Product Positioning |
The place a product occupies in consumers minds based on important features relative to competitive products |
|
|
Perceptual Map |
a means of displaying the position of products or brands in consumers' minds |
