Ch. 9 Segmentation, Targeting, and Positioning Flashcards
Demographic Segmentation
Groups consumers according to easily measured, obj characteristics like age, gender, income, and education
Geographic Segmentation
Organizes customers into groups on basis of where they live
Psychographics
How consumers actually describe themselves
Self-values
Goals of life, not just goals one wants to accomplish in a day
Self-concept
Image people ideally have of themselves
Lifestyles
The way we live
Value and Lifestyle Survey, VALS
Most widely used tool to support such psychographic segmentation efforts - owned and operated by Strategic Business Insights (SBI)
Benefit Segmentation
Groups consumes based off the benefits they get from prod/serv
Behavioral Segmentation
Groups consumer based off how they use prod/serv
Occasion Segmentation
Behavioral segmt based on when prod/serv is purchased or consumed
Loyalty Segmentation
Investing in retention and loyalty initiatives to retain most profitable customer
Geodemographic Segmentation
Combination of geographic, demographic, & lifestyle characteristics to classify consumers
Identifiable
Firms ID who’s within their market to be able to design products or services to meet their needs
Substantial
Once firm ID potential target markets, it needs to measure their size
Reachable
Best prod/serv can’t have any impact, no matter how identifiable or substantial target market is,Mir that market can’t be reached through persuasive communications and prod distribution
Responsive
Customers in the segment must react similarly and positively to firms offering
Profitable
Marketers focus their assessments on potential profitability of each segment, current and future
Undifferentiated Targeting Strategy
When everyone might be considered a potential user of its product
Differentiated Targeting Strategy
Target several market segments w/ different offering for each
Concentrated Targeting Strategy
Orgnz selects single, primary target market & focuses all its energies on providing a prod to fit that markets needs
Micromarketing or one-to-one marketing
Firm tailors a prod/serv to suit an individual customers wants or needs, an extreme form of segmentation
Cookies
Small text files a website stores in a visitors browser
Value Proposition
Communicates customer benefits to be received from a prod/serv and provides reasons for wanting to purchase it
Value
Popular positioning method bc relationship of price to quality is among the most important considerations for consumers when they make purchase decision
Perceptual Map
Two or more dimensions, the position of prod or brands in the consumers mind
Ideal Points
Particular market segments ideal prod would lie on the map
