10. Target marketing and market segmentation Flashcards
1
Q
define marketing
A
- creating, communicating, delivering value to customers
- managing customer relationship to benefit the company and stakeholders
2
Q
how to deliver value
A
- new product with better performance
- price reduction
- new ways to use existing product
- store open longer hours for busy season
3
Q
define utility (important)
A
- ability to satisfy customers’ need
4
Q
4 types of utility (important)
A
- form - product features
- time - when
- place - where
- possesion - transfer ownership
5
Q
5 external factor affect a business
A
- social and cultural
- political (change in tax rate)
- economical
- technological
- competitive
6
Q
3 competitive environment
A
- substitute product
- brand
- international
7
Q
4 marketing mix
A
- product
- pricing
- promotion
- place
8
Q
define marketing plan
A
detailed strategic for focusing marketing effort on users needs
9
Q
define market segmentation
A
process of dividing market into several categories
10
Q
define target market
A
a group of people that have similar needs and interest
11
Q
3 market segment
A
- geographic
- demographic
- psychographic
12
Q
examples of demographic variable
A
- age
- income
- family size
- gender
- race
13
Q
define consumer behavior
A
- study of decision making of consumer when buying something
