Marketing An Intro Ch 6

Front 1

Market Segmentation

Back 1

Dividing a market into smaller groups with disctinct needs, characsteristics, or behaviours that might require separate marketing strategies or mixes.

Front 2

Market Targeting

Back 2

The process of evaluatin each market segments attractiveness and selecting one or more segments to enter

Front 3

Differentiation

Back 3

Actually differentiating the market offering to create superior customer value.

Front 4

Positioning

Back 4

Arranging for a market offering to occupy a clear, distinctive, and desirable place relative to comepting products in the minds of target consumer.

Front 5

Geographic Segmentation

Back 5

Dividing a market into different geographical units such as nations, states, regions, counties, cities, or neighborhoods.

Front 6

Demographic Segmentation

Back 6

Dividing the market into groups based on variables such as age, gender, family size, family life cycle, income, occupation, education, religion, race, generation, and nationality.

Front 7

Age-and-Lifecycle segmentation

Back 7

Dividing a market into different age and life cycle groups.

Front 8

Gender segmentation

Back 8

Dividing a market into different groups based on gender.

Front 9

Income segmentation

Back 9

Dividing a market into different income groups.

Front 10

Psychographic segmentation

Back 10

Dividing a market into different groups based on social class, lifestyle, or personality characsteristics.

Front 11

Behavioral Segmentation

Back 11

Dividing a market into groups based on consumer knowledge, attitudes, uses, or responses to a product

Front 12

Occasion segmentation

Back 12

Dividing the market into groups according to occasions when buyers get the idea to buy, actually make their purchase, or use the purchased item.

Front 13

Benefit segmentation

Back 13

Dividing the market into groups according to the different brands that consumers seek from the product.

Front 14

Intermarket segmentation

Back 14

Forming segments of consumers who have similar needs and buying behaviour even thought they are located in different countries.

Front 15

Target Market

Back 15

A set of buyers sharing comon needs or characsteristics that the company decides to serve.

Front 16

Undifferentiated marketing

Back 16

A market coverage strategy in which a firm dicedes to ignore market segment differences and go after the whole market with one offer.

Front 17

Differentiated marketing

Back 17

A market coverage strategy in which a firm decides to target several market segments and designs separate offers for each.

Front 18

Concentrated (niche) marketing

Back 18

A market coverage strategy in which a firm goes after a large share of one or a few segments or niches.

Front 19

Micromarketing

Back 19

The practice of tailoring products and marketing programs to the needs and wants of specific individuals and local customer groups--includes local marketing and individual marketing.

Front 20

Local Marketing

Back 20

Tailoring brands and promotions to the needs and wants of local customer groups--cities, neighborhoods, and even specific stores.

Front 21

Individal Marketing

Back 21

Tailoring products and marketing programs to the needs andpreferences of individual customers--also labled markets of one marketing, customized marketing and one-to-one marketing.

Front 22

Product Position

Back 22

The way the product is defined by consumers on important attributes--the place the product occupies in consumer minds relative to competing products.

Front 23

Positioning maps

Back 23

Perceptual positioning maps show consumer perceptions of their brands versus competing products on important buying dimensions.

Front 24

Competitive Advantage

Back 24

An advantage over competitors gained by offering greater customer value, either through lower prices or providing more benefits that justify higher prices.

Front 25

channel differentiation

Back 25

Gaining a competitive advantage through the way the channel's coverage expertise and performance is designed. Channel -- method of product delivery.

Front 26

Value proposition

Back 26

The full positioning of a brand--the full mix of benefits upon which it is positioned.(more for more, more for less, more for the same, the same for less, less for less).

Front 27

Positioning statement

Back 27

A statement that summarizes company or brand positioning.

Front 28

Product

Back 28

Anything that can be offered to a market for attention, acquistion, use, or consumption, that might satisfy a want or need.

Front 29

Service

Back 29

Any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything.