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23 Cards in this Set
- Front
- Back
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The process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behavior and might require separate products or marketing programs.
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Market Segmentation
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The process of evaluating each segments attractiveness and selecting one or more of the markets segments.
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Target Marketing
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Formulating competitive positioning for a product and a detailed marketing mix.
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Market Positioning
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The degree to which the segments size and purchasing power can be measured
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Measurability
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The degree to which segments can be accessed and served.
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Accessibility
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The degree to which segments are large or profitable enough to serve as market.
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Sustainability
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The degree to which effective programs can be designed for attracting and serving segment.
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Actionability
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Companies ignore market segmentation differences and go after the entire market with one market offer.
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Undifferentiated
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A company targets several market segments and designs separate offers for each.
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Differentiated
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A company pursue a large share of one or a few small markets.
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Concentrated
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When a company has multiple brands serving multiple segments.
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Brand Portfolio
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An organizational culture that supports customer service through polices, procedures, reward systems and actions.
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Service Culture
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A pattern of shared values and beliefs that fives members of an organization meaning, providing them with the rules for behavior in the organization.
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Organizational Culture
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The amount of money charged for a product or service.
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Price
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Training sales and reservation employees to offer continuously a higher-priced product that will better meet the customers needs, rather than settling for the lowest price.
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Upselling
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The company’s other products that are sold to the guest.
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Cross-selling
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The communicator must be able to gauge the target audiences awareness/unawareness of the product or organization.
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Awareness
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The target audience might be aware of the company or product with little else.
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Knowledge
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If target audience members know the product, how do they feel about it?
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Target
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A target audience might like the product but not prefer it to others.
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Preference
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Preference without a conviction about buying the product markets have a responsibility to turn favorable attitudes into conviction because conviction is closely linked with purchase.
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Conviction
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Consists of connecting directly with carefully target individual consumers to both obtain an immediate response and cultivate lasting customer relationships.
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Direct Marketing
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Lets viewers interact with television programming and advertising using their remote control.
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IT
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