Flashcard Set Preview
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| 1 |
process of aggregating(putting) buyers into groups that have
1)common needs
and...
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Market segmentation -
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relatively homogeneous (the same/similar) group of buyers
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Market Segments -
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the strategy of creating differences (real or perceived) btw your brand and the competition
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Product Differentiation -
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When to segment Markets
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one product and multiple market segments: Ex: Sports Illustrated changing cover to appeal to...
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potential for increased profit
similarity of needs of buyers w/in a segment
difference...
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Criteria to use in forming the segments
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Bases for segmentation for consumer Markets
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Geographic -
Demographic-
Psychographic -
Behavioristic/usage -
Benefit...
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- region, state, neighborhood
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Geographic
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Income, age, ethnicity, gender
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Demographic-
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personality, lifestyle characteristics
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Psychographic -
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what you use the most
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Behavioristic/usage -
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based on the benefits consumers seek
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Benefit -
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Criteria to Use in Picking the target segments
relevance to the product
fit...
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Select Target Markets
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the place a brand occupies in the consumer's mind relative to competitors along important...
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Positioning -
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change the positioning
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product repositioning -
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premium brand (expensive but high quality, like a lexus
Value (reasonable price...
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price/quality -
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excedrin, gatorade (for ppl who work out)
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use/application -
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Amtrak (alt to flying and driving)
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product class -
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??
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product user -
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comparative advertising
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competition -
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| 20 |
identify important attributes for a product class
judgements of existing...
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Product positioning using perceptual maps
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