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13 Cards in this Set
- Front
- Back
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market segmentation
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so it can respond more affectively to needs and wants of customers. 2 categories-common needs and respond similarily to marketing action
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how does market segmentation differ
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homogeneous groups from segmentation. differ size, revenue, profit, and growth potential from other groups
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why is market segmentation useful (2)
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decesion makers make accurately define market objective. and enables affective allocation of resources
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product differentiation
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results from the exsistence of different market segments. using mix elements of promotion, place, and/or price to shape customers product perceptions
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product differentiation and marketing
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marketing products with different physcial features to different market segments
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when should markets be segmented (3)
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1.one product marketed to multiple market segments 2.multiple products marketed to multiple segments
3.segments of one(mass custimization) |
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segments of one
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mass custimization (e-commerce, flexible products on one assembly line
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segmentation trade-off
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customer relationship management (CRM) v. synergies
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market-product grid
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framework to relate market segments of potential buyers to products offered or potential marketing actions by the firm
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synergy
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increased customer value achieved through performing org. functions more efficiently
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one product and multiple segments
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Time Magazine, Harry Potter books
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multiple products and multiple market segments
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reeboks for different people.
Disney and winnie the pooh in nordstrom and wal-mart |
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segments of one: mass custimization
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tailoring goods to individual customers on a high volume scale
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