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25 Cards in this Set
- Front
- Back
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market segmentation |
dividing a market into smaller segments of buyers with distinct needs, characteristic or behaviors that might require separate marketing strategies or mixes |
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market targeting |
evaluating each market segments attractiveness and selecting one or more segments to enter |
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differentiation |
differentiating the market offering to create superior customer value |
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positioning |
arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers to relation to the competition |
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geographic segmentation |
dividing a market into different geographical units such as nations, states, regions, countries, cities or even neighborhoods |
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demographic segmentation |
dividing the market into segmetns based on variables such as age, life cycle stage, gender, income occupation, education, religion, ethnicity, and generation |
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age and life cycle segmentation |
dividing a market into different age and life-cycle groups |
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gender segmentation |
dividing a market into different segments based on gender |
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income segmentation |
dividing a market based on income |
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psychographic segmentation |
dividing a market into different segments based on personality characteristics, social class, lifestyle |
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behavioral segmentation |
dividing a market into segments based on consumer, attitudes, uses, or responses to a product |
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occasion segmentation |
dividing the market into segmetns according to occasions when buyers get the idea to buy, actually make their purchase, or use the purchased item |
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benefit segmentation |
dividing the market into segments according to the different benefits that consumers seek front eh product |
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intermarket (cross-market) segmentation |
forming segments of consumers who have similar needs and buying behaviors even though they are located in different countries |
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target market |
set of buyers sharing common needs or characteristics that the company decides to serve |
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undifferentiated (mass) marketing |
a market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer |
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differentiated (segmented) |
a market-coverage strategy in which a firm decides to target severa market segments na designs separate offerns fo reach |
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concentrated (Niche) marketing |
a market-coverage strategy in which a firm goes after a large share of one or a few segements or niches |
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micromarketing |
tailoring products and marketing prorams to the needs and wants of specific individuals and local customer segments, it includes local marketing and individual marketnig |
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local marketing |
tailoring brands and marketing to the needs and wants of local customer segments- cities, neighborhoods, and even specific stores |
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individual marketing |
tailoring products and marketing programs to the needs and preferences of individual customres |
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product position |
the way a product is defined by consumers on important attributes- int he place the product occupies in consumers minds relative to competing products |
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competitive advantage |
an advantage over competitors gained by offering greater customer value, either by having lower prices or providing more benefits that justify higher prices |
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value proposition |
the full positioning of a brand- the full mix of benefits on which it is position |
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positioning statement |
a statement that summarizes company or brand position using this form: to (target segment and need) or (brand) is (concept) that (point of difference) |
