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10 Cards in this Set
- Front
- Back
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why does a business firm segment to markets
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so it can respond more efectively to the wants of groups of potential buyers and thus increase its sales and profits
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segmentation
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aggregating buyers into groups that have ocmmon needs and respond similarily
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segments
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homogeneous groups of prospective buyers that result grom segementation
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product differntiation
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a firm using differnt mktg activities to help consumers perceive the product as being dirferent and better than others
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steps in segmenting and targeting markets
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1. group potential buyers into segments
2. group products to be sold in categories 3. develop a market product grid and estimate size of markets 4. select target markets 5. take mktg actions to reach markets |
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segments of one
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tailoring goos/services to the tastes of individuaols customers on high level scale
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product repositioning
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changing the place an offering occupies in a consumres mind relative to competitive products
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perceptual maps
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a means of displaying or graphing two dimensions the location of products of brands in the minds of consumers
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market potential
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offers to the max total sales of a product by all firms to a segment during a specified time period under specified environmental coned and efforts
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sales forcast
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the total sales of a product that a firm expects to sale during a specific time
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