Reading...
Play button
Play button
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
|
What does market segmentation do?
|
Divides the market into subsets of perspective customers who behave in the same way, have similar wants, or have similar characteristics that relate to purchase behavior.
|
|
|
What is intermarket segmentation?
|
Well-defined, similar clusters of customers across national boundaries
|
|
|
What does targeting involve?
|
Selecting which segments in a market are appropriate to focus on and designing the means of reaching them.
|
|
|
When does product differentiation exist?
|
When a firm's offerings differ or are perceived to differ from those of competing firms on any attribute.
|
|
|
What is mass customization?
|
An attempt to satisfy the diverse needs of their customers and to provide unique value.
|
|
|
What is measurability?
|
The degree to which the size and purchasing power of segments can be assessed.
|
|
|
What is accessibility?
|
The degree to which a firm can reach intended target segments efficiently.
|
|
|
What is substantialness?
|
The degree to which identified target segments are large enough or have sufficient sales and profit potential to warrant unique or separate marketing programs.
|
|
|
What is durability?
|
Whether distinctions between segments will diminish or disappear as the product category or the markets themselves mature.
|
|
|
What is differential responsiveness?
|
The extent to which market segments exhibit different responses to different marketing mixes.
|
|
|
What are the three types of geographics?
|
1. metropolitan statistical areas
2. primary metropolitan statistical areas 3. consolidated metropolitan statistical areas |
|
|
What is psychographic/lifesyle research?
|
Attempts to segment customers according to their activities, interests, and opinions.
|
|
|
What does benefit segmentation do?
|
Enhances the design and marketing of a product to meet expressed consumer needs for quality, service, or unique features.
|
