+
Related Flashcards
Related Topics
Cards In This Set
| Front | Back |
|
Dividing a market into distinct groups with distinct needs, characteristics, or behavior who might rquire separate products or marketing mixes
|
Market Segmentation
|
|
3 Steps in Marketing
|
1. Market Segmentation2. Target Marketing3. Market Positioning
|
|
Behavior Segmentation Variables
|
Occasions, Benefits, User Status, User rates, Loyalty Status, Readiness Stage, Attitude Toward the Product.
|
|
Key is the "best" fit between organizations resources, strengths, product mix and the needs of the target market
|
Target Marketing
|
|
Socially Responsible TargetingSpecial Risk segments:
|
ChildrenInner-city minority consumersInternet Shoppers
|
|
Positioning
|
Arranging for a market offering to occupy a clear, distinctive, and desirable place, relative to competing products in the mind of target consumers
|
|
Target Market
|
A set of buyers sharing common needs or characteristics that the company decides to serve
|
|
Undifferentiated (mass) marketing
|
A market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer.
|
|
Differentiated (segmented) marketing
|
A market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each.
|
|
Concentrated (niche) marketing
|
A marketing-coverage strategy in which a firm goes after a large share of one or a few segments or niches.
|
|
Value Proposition
|
The full positioning of a brand, the full mix of benefits upon which it is positioned
|
