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20 Cards in this Set
- Front
- Back
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Market Fragmentation |
The creation of many consumer groups due to a diversity of distint needs and want in modern society |
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Target marketing strategy |
Dividing the total market into different segments on the basis of customer charecteristics |
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Segmentation |
The process of dividing a larger market into smaller pieces based on one or more meaningful, shared charecteristics |
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Segmentation Variables |
Dimenstions that devide the total market into fairly homogenuous groups, each with different needs and preferences |
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Geodemography |
Segmentation technique that combines geography with demographics |
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Generation Y |
1977 - 1994 |
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Generation X |
1965 - 1976 |
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Baby Boomers |
1946 - 1964 |
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Seniors |
Pre 1964 |
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Metrosexual |
Man who is a hetrosexual, sensitivem educated urban dweller who is in touch with his feminine side |
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Behavioural Segmentation |
A technique that divides cosumers into segments on the basis of how they act towards, feel about, or use a good or service |
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80/20 rule |
20 % of purchases account for 80% of products sales |
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Usage occasions |
An indicator used in one type of market segmentation based when consumers use a product most |
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Segment profile |
A description of the 'typical' customer in a segment |
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Undifferentiated target marketing strategy |
appealing to a borad spectrum of people |
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differentiated target marketing strategy |
developing one or more products for each of several distinct customer groups and making sure these offerings are kept seperate in the marketplace |
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concentrated target marketing strategy |
focusing a compnays efforst on offering one or more products to a single segment |
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custom target marketing stratgey |
an approach that tailors specific products and the messages about them to individual customers |
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mass customisation |
an approach that modifies a basic good or service to meet the needs of an individuals |
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positioning |
developing a marketing strategy aimed at influenicing how a particular market segment percieves a good or service in com |
