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8 Cards in this Set
- Front
- Back
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What is segmentation?
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Dividing market into smaller segments
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What is differentiation?
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Differentiate offering to create superior value
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What is targeting?
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Selecting of a segment
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What is positioning?
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Positioning offering in minds of target customers
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What are psychographic segmentation variables?
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Socio-economic status
Values Personality |
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What are behavioural segmentation variables?
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Purchase occasion
Benefits sought Loyalty status Readiness stage |
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What are the requirements for effective segmentation?
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Measurable
Accessible Substantial Actionable Differentiable |
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What is the difference between undifferentiated, differentiated and concentrated marketing?
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Undifferentiated - Ignore segmentation
Differentiated - target several markets and provide separate offers for reach Concentrated - Go for large share of one or few sub markets |
