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29 Cards in this Set
- Front
- Back
marketing segmentation
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dividing a market into smaller groups with distinct needs, characteristics, or behaviors who might require seperate products or marketing mixes.
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market targeting
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the process of evaluating each market segments attractiveness and selecting one or more segments to enter
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differentiation
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actually differentiating the firms market offering to create superior customer value.
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positioning
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arranging for a product to occupy a clear, distinctive, and desireable place relative to competing products in the minds of target consumers.
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geographic segmentation
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dividing a market into different geographical units such as nations, states, regions, counties, cities, or neighborhoods.
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demographic segmentation
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dividing a 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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age and life cycle segmentation
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dividing a market into different age and life cycle groups
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gender segmentation
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dividing a market into different groups based on gender
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income segmentation
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dividing a market into different income groups.
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psychographic segmentation
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dividing a market into different groups based on social class, lifestyle, or personality characteristics.
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behavior segmentation
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dividing a market into groups based on consumer knowledge, attitude, use or response to a produce.
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occasion segmentation
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dividing a market into groups according to occasions when buyers get the idea to buy, actually make their purchase, or use the item.
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benifit segmentation
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dividing a market into groups according to occasions when buyers get the idea to buy, actually make their purchase or use the purchased item.
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user status
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markets can be segmented into users, nonusers, ex-users, potential users, first time users, and regular users.
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usage rate
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markets can also be segmented into light, medium, or heavy product users
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loyalty status
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a market can be also segmented by consumer loyalty. consumers can be loyal to brands, stores, and companies.
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intermarket segmentation
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forming segments of consumers who have similar needs and buying behavior even though they are located in different countries.
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requirements for effective segmentation
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MASDA
measureable, accessible, substantial, differentiable, actionable. |
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target market
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a set of buyers sharing common needs or characteristics that the company decides to serve.
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undifferentiated (mass) marketing
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a market converage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer.
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differentiated (segmented) marketing
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a market coverage strategy in which a firm decides to target several market segments and designs seperate offers for each.
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concentrated (niche) 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.
"the era of the mass brand has been over for a long time" |
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micromarketing
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the practice of tailoring products and marketing programs to suit the taste of specific individuals and loccations
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local marketing
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involves tailoring brands and promotions to the needs and wants local customer groups- cities, neighborhoods, and even specific stores.
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individual marketing
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tailoring products and marketing programs to the needs and preferences of individual customers- also labeled "marketing of one" "customized marketing" and "one to one marketing"
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product position
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the 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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competitive advantage
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and advantage over competitors gained by offering consumers greater value, either through lower prices or by providing more benefits that justify higher prices.
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value propostion
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the full positioning of a brand- the full mix of benifits upon which it is positioned.
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positioning statement
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a statement that summarizes the 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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