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25 Cards in this Set
- Front
- Back
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dividing a market into smaller groups with distinct needs, characteristics, or behaviors who might require separate products or marketing mixes
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market segmentation
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the process of evaluating ech market segment's atractiveness and selecting one or more segments to enter
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market targeting
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actualy differentiating the firm's market offering to create superior customer value
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differentiation
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aranging for a product to occupy a clear, distincive, and deirable place relative to competing products in the minds of target consumers
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positioning
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dividing a market into diffrent geographical nits such as nations, states, regions, counties, cities, or neighborhoods
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geographic segmentation
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dividing a market into groups based on variables such as age, gender, family size, family life cycle, income, occupation, education, religion, race generation, and nationality
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demographic segmentation
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dividing a market into different age and life ccle groups
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age and life cycle segmentation
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dividing a market into different groups based on gender
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gender segmentation
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dividing a market into different income groups
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income segmentation
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dividing a market into different groups based on social class, lifestyle, or personality characteristics
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psychographic segmentation
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dividing a market into groups based on consumer knowledge, attitude, use or response to a product
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behavioral segmentation
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dividing a market into groups according to ocasions when buers get the idea o buy, actually make their purchase, or use the purchased item
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occasion segmentation
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dividing a market into groups accordking to the different benefits that consumers seek from the product
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benefit segmentation
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forming segments of consumers who have similar needs and buying behavior even though they ar eloated in different countries
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intermarket segmentation
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a set of buyers sharing cmmon needs or characteristics that the company decides to serve
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target market
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a market-coverage strategy in which a firm decides to ignore market segment differences an go after the whole market with one offer
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undifferentiated (mass) marketing
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a market-coverage strategy in which a firm decides to target several market sefments and designs separate offers for each
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differentiated (segmented) marketing
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a market-coverage strategy in which a firm goes after a large share of one or a few segments or niches
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concentrated (niche) marketing
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the practice of tailoring products and marketing programs to the needs and wants of specific indiciduals and local customer groups--includes local marketing and individual marketing
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micromarketing
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tailoring brands and promotions to theneeds and wants of local customer groups--cities, neighborhoods, and even specific stores.
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local marketing
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tailoring products and marketing programs to the needs and preferences of individual customers--also labeled "markets-of-one marketing," "customized marketing," and "one-to-one marketing."
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individual marketing
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the way the product is defined by consumers on important attributes--the place the product occupies in consumers' minds relative to competing products
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product position
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an advantage over competitors gained by offering consumers greater value, either through lower prices or by providing more benefits that justify higher prices.
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competitive advantage
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the full positioning of a brand--the full mix of benefits upon which it is positioned
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value proposition
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a statement that summarizes company or brnd positioning--it takes this form: To (target segment and need) our (brand) is (concept) that (point of difference).
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positioning statement
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