Flashcards in Exam 2 Deck (11)
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1
Market Segmentation
Grouping Customers into relatively homogeneous sets or groups
2
Advantages of Market Segmentation
Effective means for reaching customer groups
Helps in allocation marketing resources
Identifies market opportunities for the company
3
Geographic Segmentation
Differences in geographic regions, population, climate
4
Demographic Segmentation
Differences in age, gender, income, education, social class, family, religion, ethnicity
5
Psychographic Segmentation
Differences in personality, motives, or lifestyle
6
Behavioral Segmentation
Differences in the core benefits customers seek, usage, brand loyalty, price sensitivity
7
Brand-loyal Shoppers
High brand sensitivity and low price sensitivity
Willing to pay as much as necessary
8
Deal Shoppers
High brand sensitivity and high price sensitivity
Purchase leading brands at a discount
9
Price Shoppers
low brand sensitivity and high price sensitivity
Purchase the lowest-price products regardless of brand
10
Convenience Shoppers
Low Brand sensitivity and Low price sensitivity
Maximize their velocity through shopping environments
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