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Marketing > Chapter 9 > Flashcards

Chapter 9 Flashcards

1
Q

Group customers based on similar needs, profile each segment
What is this ?

A

Segmentation

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2
Q

Assess attractiveness of each segment, select segments to target
What is this ?

A

Targeting

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3
Q

Define value proposition for target segment, develop an action plan
What is this ?

A

positioning

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4
Q

What are the types of segmentation ?

A

*geographic
*demographic
*psychographic
*behavioral

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5
Q

*zip code
*country
*city
*neighborhood
*population density
*time zone
Which type of segmentation is this ?

A

geographic

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6
Q

*age
*gender
*income
*race
*occupation
*religion
*marital status
Which type of segmentation is this ?

A

demographic

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7
Q

*interests
*activities
*opinions
*values
*pain points
*needs
*goals
Which type of segmentation is this ?

A

psychographic

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8
Q

*purchasing habits
*customer loyalty
*brand interactions
Which type of segmentation is this ?

A

Behavioral

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9
Q

Keys to a good segmentations ?
ISASDA

A

*Identifiable
*Substantial
*Accessible
*Stable
*Differentiable
*Actionable

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10
Q

*market size
*expected growth
*competitive position
*cost of reaching
*company compatibility
What are these ?

A

How to select a target

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11
Q

To dumb down how to select your target what do you look for ?

A
  1. Size of prize
  2. Right to win
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12
Q

the act of DESIGNING the company offering and image to occupy a DISTINCTIVE PLACE in the MIND OF A TARGET MARKET
what is this ?

A

Brand positioning

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13
Q

What’s the benefits of positioning ?

A

*Simplicity
*Alignment
*Value Creation

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14
Q

Helps consumers categorize brands and distinguish between brands and benefits
Which benefit of positioning is this ?

A

Simplicity

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15
Q

Provides the North Star for the organizations to make decisions across R&D, sales, marketing, supply chain, operations etc.
Which benefit of positioning is this ?

A

Alignment

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16
Q

Creates value not just features with consumers and reduces chance of being treated as a commodity
Which benefit of positioning is this ?

A

Value Creation

17
Q

this is a cold-hearted, no nonsense statement of how you are PERCEIVED IN THE MIND OF YOUR PROSPECTS
What is this ?

A

Position

18
Q

this expresses how you WISH TO BE PERCEIVED
What is this ?

A

Positioning statement

19
Q

Inmore simple terms
RTB’s what ?
Benefits what?

A

RTB’s tell
Benefits sell

20
Q

A POSITIONING TOOL that VISUALIZES how consumers PERCEIVE brands across KEY ATTRIBUTES
What is this ?

A

Perceptual map

21
Q

a marketing strategy that involves a firm using different marketing mix actions to help consumers perceive a product as being different and better than competing products
What is this ?

A

product differentiation

22
Q

tailoring products or services to the tastes of individual customers on a high volume scale
What is this >

A

mass customization

23
Q

manufacturing a product only when there is an order from a customer
What is this ?

A

build to order

24
Q

the quantity consumed or patronage-store visits-during a specific period
What is this ?

A

usage rate

25
Q

a concept that suggests 80 percent of a firms sales are obtained from 20 percent of its customers
What is this ?

A

80/20 rule

26
Q

represents the financial worth of a customer to a company over the course of their relationship
What is this ?

A

customer lifetime value

27
Q

character descriptions of a brands typical customers
What is this ?

A

personas

28
Q

refers to the place a product occupies in consumers minds based on important attributes relative to competitive products
what is this ?

A

product positioning

29
Q

the place a product occupies in a consumers mind relative to competitive products
what is this ?

A

product repositioning

30
Q

involves seeking a less competitive, smaller market niche in which to locate a brand
what is this ?

A

differentiation positioning

31
Q

it is a fundamental problem that your target customer needs to resolve
what is this ?

A

job to be done

Marketing (19 decks)

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