Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Principles of Marketing > Marketing segmentation, targeting, and positioning > Flashcards

Marketing segmentation, targeting, and positioning Flashcards

1
Q

It is a subdivision or part of an overall market with specific and distinctive characteristics

A

Market Segment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

It involves grouping various customers into segments that have common needs or will respond similarly to a marketing action

A

Market Segmentation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

It involves finding out that kinds of consumers with different needs exist

A

Segmentation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Criteria must be met in order for segmentation to be useful

A
  1. Substantiality
  2. Measurability
  3. Accessibility
  4. Differentiable
  5. Actionable
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

The companies tailor-fit their marketing to the needs and wants of the particular market segment

A

Market segmentation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

It is composed of individuals or organizations with the ability and willingness to make purchases to fulfill their needs or wants

A

Market

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

It means all customers within the segment have similar preferences and characteristics but externally heterogeneous

A

Internal homogeneity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

It means segregating markets by region of the country or the world, market size, market density or climate

A

Geographic segmentation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

It is normally used for geographic segmentation because of its tremendous effect on residents’ needs and purchasing behavior

A

Climate

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

It is a market segmentation according to age, race,religion, gender, family size, ethnicity, income, and education

A

Demographic segmentation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

This exert substantial influence over family purchases specifically in food

A

School-age-children

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Members of this generation were born between 1982 to 2003.

A

Generation Y

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Members of this generation were born between 1946 and 1964

A

Baby boomers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

It is a popular target of marketers because of their numbers and income levels.

A

Baby boomers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Members of this generation were born between 1965 and 1981

A

Generation X

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

This group is very family-oriented, well-educated and optimistic

A

Generation X

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

They are composed of retirees living on modest incomes

A

Seniors

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Members of this generation were born beyond 1946

A

Seniors

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

It is dividing a market into different segments based on gender

A

Gender segmentation

20
Q

It is dividing a market into different income segments

A

Income segmentation

21
Q

It influences consumers’ wants and determines their buying power

A

Income

22
Q

It is a series of stages established through combination of age, marital status and the presence or absence of children

A

Family life cycle

23
Q

It divides buyers into different segments based on personality, motives, lifestyles, and geodemographic

A

Psychographic segmentation

24
Q

It mirrors a person’s traits, attitudes, and habits

A

Personality

25
Q

It is a need that is sufficiently pressing to direct the person to seek satisfaction

A

Motives

26
Q

It is a person’s way of living and describes how an individual spends his time, the importance of things around him, his beliefs and socioeconomic characteristics like income and education

A

Lifestyle

27
Q

It divides the potential market into neighborhood lifestyles

A

Geodemographic

28
Q

This manner of segmentation combines geographic, demographic, and lifestyle segmentations

A

Geodemographic

29
Q

It divides buyers into segments based on their knowledge, attitudes, uses, or responses to a product

A

Behavioral segmentation

30
Q

It involves breaking a market into segments and then concentrating marketing efforts on one or a few key segments

A

Market Targeting

31
Q

It is a strategy that uses two or more marketing mixes to target two or more market segments

A

Multisegment Targeting

32
Q

It is the most sought after target market strategy because it has the potential to generate sales volume, higher profits, larger market share and economies of scale in manufacturing and marketing

A

Multisegment Targeting

33
Q

It focuses all marketing efforts on a single market segment

A

Concentrated Targeting strategy

34
Q

It assumes that all members of a market have similar needs that can be met with a single marketing mix

A

Undifferentiated targeting

35
Q

It occurs when the marketer ignores the apparent segment differences that exist within the market and uses a marketing strategy that is intended to appeal to as many people as possible

A

Undifferentiated Targeting

36
Q

It is tailoring a product to the specific needs of an individual customer

A

Customized targeting

37
Q

It is developing a product and brand image in the minds of consumers

A

Market Positioning

38
Q

It is competing directly with competitors on similar product attributes in the same target markets

A

Head-to-Head positioning

39
Q

It seeks a less competitive smaller market niche in which to position the brand

A

Differentiation positioning

40
Q

It is a technique of attempting to determine through graphing how different product brands are perceived by consumers when mapped or compared against two or more product dimensions

A

Perceptual mapping

41
Q

bases for positioning which a company may use

A

Attribute
Price and quality
Use or application
Product User
Product class
Competitor
Emotion

42
Q

It is a brief description of the target market as well as a convincing picture of how the company wants that market to perceive the brand

A

Positioning statement

43
Q

It is a guidepost for the marketing efforts

A

A good positioning statement

44
Q

It helps maintain focus on the brand and its value proposition while working on market

A

A good positioning statement

45
Q

Bases of segmenting business markets

A

Geographical location
Company Size
Usage rate
End-user application
Type of buying situation

Principles of Marketing (1 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions