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9 Cards in this Set
- Front
- Back
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Market Segmentation
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1. Identify the market of interest
2. Segment market based on certain criteria |
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Qualifying Dimensions
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criteria that qualifies people to belong to a market.
Ex: You need high income to buy a BMW |
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Determining Dimensions
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criteria that determine what product people buy
Ex: performance reliability |
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Dimensions for Segmenting Consumer Markets
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Geographic
Psychographic Demographic Behavioral |
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Criteria for Effective Segmentation
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Homogeneous within
Heterogenous between Substantial Operational (measurability, accessibility, actionability) |
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Targeting
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Process of evaluating segments and selecting one or more segments as the focus of certain marketing mix offerings.
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Possible Targeting Strategies
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Single Target Market
Multiple Target Market Combined Target Market |
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Positioning
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The place that the product occupied ins consumers' minds relative to competing products
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Differentiation
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Creation of tangible or intangible differnces on one or two key dimensions between a focal product and its main competitors
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