Marketing Chapter 7

Front 1

marketing segmentation

Back 1

dividing a market into smaller groups with distinct needs, characteristics, or behaviors who might require seperate products or marketing mixes.

Front 2

market targeting

Back 2

the process of evaluating each market segments attractiveness and selecting one or more segments to enter

Front 3

differentiation

Back 3

actually differentiating the firms market offering to create superior customer value.

Front 4

positioning

Back 4

arranging for a product to occupy a clear, distinctive, and desireable place relative to competing products in the minds of target consumers.

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 a 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 life cycle 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 characteristics.

Front 11

behavior segmentation

Back 11

dividing a market into groups based on consumer knowledge, attitude, use or response to a produce.

Front 12

occasion segmentation

Back 12

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

Front 13

benifit segmentation

Back 13

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

Front 14

user status

Back 14

markets can be segmented into users, nonusers, ex-users, potential users, first time users, and regular users.

Front 15

usage rate

Back 15

markets can also be segmented into light, medium, or heavy product users

Front 16

loyalty status

Back 16

a market can be also segmented by consumer loyalty. consumers can be loyal to brands, stores, and companies.

Front 17

intermarket segmentation

Back 17

forming segments of consumers who have similar needs and buying behavior even though they are located in different countries.

Front 18

requirements for effective segmentation

Back 18

MASDA
measureable, accessible, substantial, differentiable, actionable.

Front 19

target market

Back 19

a set of buyers sharing common needs or characteristics that the company decides to serve.

Front 20

undifferentiated (mass) marketing

Back 20

a market converage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer.

Front 21

differentiated (segmented) marketing

Back 21

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

Front 22

concentrated (niche) marketing

Back 22

a market coverage strategy in which a firm goes after a large share of one or a few segments or niches.
"the era of the mass brand has been over for a long time"

Front 23

micromarketing

Back 23

the practice of tailoring products and marketing programs to suit the taste of specific individuals and loccations

Front 24

local marketing

Back 24

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

Front 25

individual marketing

Back 25

tailoring products and marketing programs to the needs and preferences of individual customers- also labeled "marketing of one" "customized marketing" and "one to one marketing"

Front 26

product position

Back 26

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

Front 27

competitive advantage

Back 27

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

Front 28

value propostion

Back 28

the full positioning of a brand- the full mix of benifits upon which it is positioned.

Front 29

positioning statement

Back 29

a statement that summarizes the company or brand positioning. it takes this form: to (target segment and need) our (brand) is (concept) that (point of difference)