Ama Pcm - Domain 3-4: Segmentation, Targeting, And Positioning

Front 1

Breakdown Approach

Back 1

Measuring company sales potential based on a general economic forecast for a specific period and the market potential derived from it.

Front 2

Buildup Approach

Back 2

Measuring company sales potential by estimating how much of a product a potential buyer in a specific geographic area will purchase in a given period, multiplying the estimate by the number of potential buyers, and adding the total of all the geographic areas considered.

Front 3

Business Market

Back 3

Individuals or groups that purchase a specific kind of product for resale, direct use in producing other products, or use in general daily operations.

Front 4

Company Sales Potential

Back 4

The maximum percentage of market potential that an individual firm within an industry can expect to obtain for a specific product.

Front 5

Consumer Market

Back 5

Purchasers and household members who intend to consume or benefit from the purchased products and do not buy products to make profits.

Front 6

Differentiated Targeting Strategy

Back 6

Firms target several market segments with a different offering for each. This helps diversify the business and therefore lowers the company's overall risk.

Front 7

Head-to-Head Positioning

Back 7

Competing directly with competitors on similar product attributes in the same target market.

Front 8

Heterogeneous Market

Back 8

A market made up of individuals or organizations with diverse needs for products in a specific product class.

Front 9

Homogeneous Market

Back 9

People who are relatively similar to each other in terms of their consumption behavior. Groups that have common needs and will respond similarly to a marketing action.

Front 10

Market Potential

Back 10

The total amount of a product that customers will purchase within a specified period at a specific level of industrywide marketing activity.

Front 11

Market Segment

Back 11

Relatively homogeneous groups of prospective buyers that result from the market segmentation process.

Front 12

Market-Product Grid

Back 12

A framework to relate the market segments of potential buyers to products offered or potential marketing actions.

Front 13

Mass Customization

Back 13

Tailoring goods or services to the tastes of individual customers on a high volume scale. It is the next step beyond build to order (BTO).

Front 14

Perceptual Map

Back 14

Displays in two or more dimensions position of products or brands in the consumer's mind.

Front 15

Product Differentiation

Back 15

Firms use different marketing mix activities, such as product features and advertising, to help consumers perceive the product as being different and better than competing products.

Front 16

Product Positioning

Back 16

Place a product occupies in consumers' minds on important attributes relative to competitive products.

Front 17

Product Repositioning

Back 17

Changing the place a product occupies in a consumers mind relative to competitive products.

Front 18

Synergy Analysis

Back 18

Analyzing the potential benefits of focusing on a product vs. a market segment.

Front 19

Undifferentiated Targeting Strategy

Back 19

Everyone might be considered a potential user. Focuses on the similarities in needs of the customers as opposed to the differences. Used for many basic commodities, such as salt or sugar.

Front 20

Segmentation, targeting, and positioning process

Back 20

1. Establish overall strategy or objectives. 2. Segmentation methods. 3. Evaluate segment attractiveness. 4. Select target market. 5. Develop positioning strategy

Front 21

Segmentation, targeting, and positioning process

Back 21

1. Establish overall strategy or objectives. 2. Segmentation methods. 3. Evaluate segment attractiveness. 4. Select target market. 5. Develop positioning strategy

Front 22

Segmentation, targeting, and positioning process

Back 22

1. Establish overall strategy or objectives 2. Segmentation methods 3. Evaluate segment attractiveness 4. Select target market. 5. Develop positioning strategy

Front 23

Segmentation, targeting, and positioning process

Back 23

1. Establish overall strategy or objectives 2. Segmentation methods 3. Evaluate segment attractiveness 4. Select target market 5. Develop positioning strategy

Front 24

Steps in segmenting and targeting markets

Back 24

1. Group potential buyers into segments
2. Group products to be sold into categories
3. Develop a market-product grid and estimate the size of markets
4. Select target markets
5. Take marketing actions to reach target markets