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;
27 Cards in this Set
- Front
- Back
|
Basis for segmenting consumer markets
|
Geographic, demographic, income, race and culture, behavioral
|
|
|
geographic segmentation
|
divides market into geographic groups.
|
|
|
Demographic segmentation
|
family size, family life cycle, gender, income, occupation, education, religion, race, generation, nationality, social class.
|
|
|
age and life cycle stage
|
customers wants and abilities change with age
|
|
|
life stage
|
defines a persons major concern
|
|
|
psychographics
|
the science of using psychology and demographics to better understand consumers.
|
|
|
psychographic groups with higher resources
|
innovators, thinkers, acheivers, experiencers
|
|
|
psychographic groups with lower resources
|
believers, strivers, makers, survivors
|
|
|
behavioral segmentation
|
divided into groups based on their knowledge and attitude toward a product.
|
|
|
five roles in a buy decision
|
initiator, influencer, decider, buyer, user
|
|
|
occasions
|
occasions when they develope a need
|
|
|
user status
|
nonusers, ex-users, potential users, first time users, regular users
|
|
|
usage rate
|
how often they utilize
|
|
|
buyer readiness stage
|
unaware of the product, aware of the product, informed, interested, desire, intend to buy
|
|
|
loyalty status
|
hard-core loyals
split loyals shifting loyals switchers |
|
|
attitude
|
attitude consumer holds toward a product
|
|
|
effective segmentation criteria
|
measurable, substantial, accessible, differentiable, actionable
|
|
|
5 forces to determine long run attractiveness of a market
|
1. threat of intense segmentation rivalry
2. threat of new entrants 3. threat of substitute products 4. threat of buyers growing bargaining power 5. threat of suppliers growing bargaining power |
|
|
supersegment
|
a set of segments sharing an exploitable similarity
|
|
|
product specialization
|
a firm sells a certain product to several different market segments
|
|
|
market specialization
|
the firm concentrates on the needs of a certain customer group
|
|
|
customerization
|
combines mass customization with customized marketing in a way that empowers customers to design the product of their choice.
|
|
|
measurable
|
the size, purchasing power, and characteristics of the segments can be measured
|
|
|
substantial
|
the segments are large and profitable enough to serve
|
|
|
accessible
|
the segments can be effectively reached and served
|
|
|
differentiable
|
the segments are conceptually distinguishable
|
|
|
actionable
|
effective programs can be formulated for attracting and serving segments
|
