Chapter 9 Flashcards
The relatively homogeneous groups of prospective buyers that result from the segmentation process
Market Segments
Aggregating Prospective buyers into groups that have common needs and desires, and will respond similarly to marketing actions
Marketing segmentation
Involves a firm using different marketing mix actions such as product features and advertising to help consumers perceive the product as being different and better than competing products
Product Differentiation
A framework to relate the market segments of potential buyers to products offered or potential marketing actions
Market Product Grid
The place a good or service occupies in consumer’s minds on important attributes relative to competitive products
Product Positioning
Looks to change the place a product occupies in consumers’ minds on important attributes relative to competitive products
Product Repositioning
The quantity consumed or patronage–store visits—during a specific period
Usage Rate
A concept that suggest 80 percent of a firm’s sales are obtained from 20 % of its customers
80/20 Rule
A means of displaying in two dimensions the location of products or brands in the minds of consumers
Perceptual Map
Involves competing directly with competitors on similar product attributes in the same target market
Head-to head positioning
Involves seeking a less competitive smaller market niche in which to locate a brand
Differentiation positioning
