Chapter 5 Flashcards
Psychographics
Captures aspects of consumers psychological makeup and lifestyles including their attitudes values and motivations
Behavioral segmentation
Represents information about the audiences behavior in a particular product category or set of related categories
Demographic
Reflect measurable population characteristics such as age, income, and ethnicity
Geodemographics
Is based on demographic characteristics of consumers who reside within demographic clusters such as a VIP code areas and neighborhoods
Positioning
Represents the key feature, benefit, or image that it stands for in the target audience is collective mind
Market segment
Is a group of customers who share a similar set of needs and wants
Example: Mountain Dew’s campaign for its new beverage flavors pitch black and supernova
Market segmentation
Is the act of dividing a market into distinct groups of customers who might require separate products and/or marketing mixes
Generation X
Identifies it as Americans born between 1961 and 1981
Generation Y
Americans born between 1965 and 1981
Middle-aged
Starting at the age of 35 and ending at 54
Target market strategies
1) undifferentiated marketing, in which overall marketing mix is applied to the mass-market
2) differentiated marketing, in which a separate marketing mix is applied to each separate segment
3) concentrated marketing, in which one overall marketing mix is applied to one separate segment
Brand positioning
Represents the key feature, benefit, or image that a brand stands for in the target audiences mind
Functional needs
Attempts to provide solutions to consumers current consumption related problems or potential problems by communicating that brand possess a specific benefits capable of solving those problems
