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Flashcards in Chapter Six Deck (21)
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1
Q

Geographic segmentation

A

Dividing a market into different geographical units, such as nations,regions, cities, even neighborhoods

2
Q

Demographic segmentation

A

Devises the market into segments based off of age gender income religion

3
Q

Age and life cycle segmentation

A

Dividing a market into different age and life cycle groups

4
Q

Gender segmentation

A

Dividing A market into different segments based on gender

5
Q

I come segmentation

A

Dividing a market into different income segments

6
Q

Psychographic segmentation

A

Dividing a market into different segments based on social class, lifestyle, or personality characteristics

7
Q

Behavioral segmentation

A

Dividing a market into segments based on consumer knowledge attitudes, uses of a product or response to a product

8
Q

Occasion segmentation

A

Dividing a market into segments according to occasions when buyers get the idea to buy a certain product

Like Christmas tree

9
Q

Benefit segmentation

A

Dividing the market into segments according to the different benefits each consumer seeks from a product

10
Q

Intermarket segmentation

A

Forming segments of consumers who have similar needs and buying behavior even though they live in different countries

11
Q

Target market

A

A set of buyers sharing common needs or characteristics the company decides to serve

12
Q

Undifferentiated marketing

A

A strategy in which a company decides to ignore market segment differences and go after the whole market with one offer

13
Q

Differentiated marketing

A

A market coverage strategy in which a firm decides to target several market segments and design separate offers to each

14
Q

Concentrated marketing

A

A market strategy in which a company goes after a large share of one or more target markets

15
Q

Micro marketing

A

The practice of tailoring products and marketing programs to suit the taste of specific individual market

16
Q

Local marketing

A

Tailoring brands and marketing to meet the needs and wants of the locals in the area

Florida sell swim suite
Not in Michigan

17
Q

Individual marketing

A

Tailoring products and marketing programs to the needs and preferences of individuals

18
Q

Product Position

A

How a product is defined by the consumer the place it occupies in the consumers mind

19
Q

Competitive advantage

A

An advantage over competitors gained by offering greater customer value either by having lower prices or providing more benefits that justify higher prices

20
Q

Value proposition

A

The full positioning of a brand the list of benefits on which it is positioned

Answers why why should I buy your brand

21
Q

Positioning statement

A

A statement that summarizes a company or brand positioning using this form: to target market or brand helps you this way