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48 Cards in this Set
- Front
- Back
arranging for a market offering to occupy a clea, distinctive, and desireable place relative to competing products in the minds of target consumers
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positioning
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dividing a market into smaller groups with distinct needs, characteristics, or behavior tha tmight require separate marketing strategies or mixes
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market segmentation
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process of evaluating each market segment's attractiveness and selecting one or more segments to enter
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market targeting
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actually being different in the market and offering to create superior customer value
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differentiating
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dividing a market into different geographical units such as nations, provinces, regions, parishes, cities, or neighborhoods. Many businesess are doing this to fit the needs of individual regions, cities, and even neighborhoods
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geographic segmentation
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dividing the market into groups based on variables such as age, gender, family size, family life cycle, income, occupation, education, religion, race, generation, and nationality
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demographic segmentation
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divinf a market into different age and life-cycle groups
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age and life-cycle segmentation
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dividing a market into different groups based on gender
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gender segmentation
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dividing a market into different income groups
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income segmentation
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dividing a market into different groups based on social class, lifestyle, or personality characteristics
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psychographic segmentation
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dividing a market into groups ased on consumer knowledge, attitudes, uses or responses to a product
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behavioral segmentation
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dividing the market into groups according to occasions when buyers get the idea to buy, actually make their purchase or use the purchase item
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occasion segmentation
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dividing the market into groups according to the different benefits that consumers seek from the product
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benefit segmentation
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markets can be segmented into nonusers, ex-users, potential users, first time users, and regular users of a product. Marketers want to reinforce and retain regular users, attract targeted nonusers, and reinvigorate relationships with ex-users. Give me an example of this.
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Newlywed couples, people want to be put on the registry as a gift to buy for them
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markets can also be segmented into light, medium, and heavy product users.
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Usage rate
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a market can be segmented by consumer loyalty
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loyalty status
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Marketers use___ ___ bases in an effort to identify smaller, better-defined target groups.
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multiple segmentation
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Business buyers can be segmented geographically, demographically, or by benefits sought, user status, usage rate, and loyalty status. Yet, business marketers also use some additional variables, such as customer ____ _____, _____ ____, ____ ___, and personal characteristics
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operating characteristics, purchasing approaches, situational factors
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cross market segmentation, form segments of consumers who have similar needs and buying behaviors even through they are located in different countires…also known as
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intermarket segmentation
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What are the five requirements for an effective segmentation in marketing?
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measurable, accessible, substantial, differentiable, actionable
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In evaluating different market segments, a firm must look at three factors: segment size and growth, segment structural attracvtiveness, and company ____ and resources
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objectives
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What are major structural factors that affect long-run segment attractiveness?
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aggressive competitors, how much powet the buyer has, powerful suppliers
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a set of buyers sharing common needs or characteristics that the company decides to serve
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target market
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a market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer
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undifferentiated (mass) marketing
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a market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each
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differentiated (segmented) marketing
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a market coverage strategy in which a firm goes after a large share of one or a few segments or niches
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concentrated (niche) marketing
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practice of tailoring products and marketing programs on the needs and wants of specific individuals and local customer groups--includes local marketing and individual marketing
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micromarketing
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tailoring brands and promotions to the needs and wants of local customer groups--cities, neighborhoods, and even specific stores
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local marketing
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What are some drawbacks of local marketing?
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drive up manufacturing and marketing costs, create logistics problems trying to meet the varied requirements of different regional and local markets, brands image may become diluted
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tailoring products and marketing programs to the needs and preferences of individual customers--also labeled "one to one marketing" "customized marketing" and "markets of one marketing"
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individual marketing
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Companies need to consider many factors when choosing a market-targeting strategy. Depends on company resources. Depends on ___ ____ and product's __-____ ___. Also, market variability and competitors marketing strategies
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product variability and life-cycle stage
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way the product is defined by consumers on important attributes--the place the product occupies in consumers' minds relative to competing products
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product position
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show consumer perceptions of their brands versus competing products on important buying dimensions
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perceptual positioning maps
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The differentiation and positioning taks consists of three steps: identifying a sert of differentiating competitive advantages upon which to build a position, choosing the right competitive advantages, and selecting an overall ______ strategy.
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positioning
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an advantage over competitors gained by offering greater customer value, either through lower prices or by providing more benefits that justify higher prices.
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competitive advantages
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brands can be differentiated on feaures, performance, or style and design
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product differentiation
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speedy, convenient, or careful delivery, differentiate by the services that accompany the product
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services differentiation
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gain competitive advantage through the way they design thei channel's coverage, expertise and performance
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channel differentiation
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a company or brand image should convey the product's distinctive benefits and positioning.
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image differentiation
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should develop a ____ ____ ____ and stick to it.
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unique selling proposition
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The type of differences to promote fall under these categories: important, distinctive, superior, communicable, preemptive, affordible, and ____
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profitable
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the full positioning of a brand--the full mix of benefits upon which it is positioned
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value proposition
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this positioning involves providing the most upscale product or service and charging a higher price to cover the higher costs
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more for more
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companies can attack a competitor's more for more positioning by introducing a brand offering comparable quality
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more for less
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offer many of the same brands at a smaller price
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same for less
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few people can afford the very best in everything that they buy, people give up the bells and whistles
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less for less
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claiming to give customers more for a lot cheaper for price. Sometimes hard to maintain because could be operating at a loss
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more for less
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a statement that summarizes company or brand positioning--it takes this form: to (target segment and need_ our (brand) is (concept) that (point of difference)
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positioning statement
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