Ch.7 Segment/Target/Position-ing Flashcards

1
Q

Ppl or Org with
1. Needs/Wants
2. Willingness to buy
3. Ability to buy

A

Market

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2
Q

Subgroup of ppl/org sharing characteristics of similar needs

A

Market Segment

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3
Q

Dividing market into meaningful/smaller/identifiable segments, enable marketers to tailor marketing mixes

A

Market Segmentation

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4
Q

Importance of Market Segmentation

A
  1. Identify Cx groups w/ similar needs
  2. Design Mktg mixes
  3. Define Mktg objectives & Allocate resources
  4. Consistent w/ Mktg concept
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5
Q

Bases for Segmenting Markets Geographically

A
  1. Region of the World
  2. Region of the Country
  3. Market Size
  4. Market Density
  5. Climate
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6
Q

4 Basic Criteria for Effective Segmentation

A
  1. Substantiality
    large enough market/potential Cx
  2. Identifiability / Measurability
    population & size
  3. Accessibility
    target members reachable
  4. Responsiveness
    use logical criteria/unless a segment responds to mix differently
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7
Q

Bases for Segmenting Consumer Markets

A
  1. Geographic
  2. Demographic
  3. Psychographic
    personality/motives/lifestyles/geodemographics
  4. Benefit
    benefit seeking e.g. autism
  5. Usage-Rate
    product amt bought/ consumed
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8
Q

___ segmentation
- clusters potential Cx into neighbourhood lifestyle categories
- combines geographic/ demographic/ lifestyle segmt.

A

Geodemographic

under psychographic segmt.

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9
Q

Demographic Segmentations

A
  1. Age
  2. Gender
  3. Income
  4. Ethnic Bkgrd
  5. Occupation
  6. Family Life Cycle
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10
Q

Psychographic Segmentation

A
  1. Personality
  2. Motives
  3. Lifestyles
  4. GeoDemographic

Example: Canada Goose

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11
Q

Benefit Segmentation

A

Grouping Cx based on
Benefit they seek
Cx needs/wants

e.g. autism

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12
Q

Usage-Rate Segmentation

A

Based on Amount of Products
bought/consumed

Users: Heavy/med/former/potential/1st-time/light/irregular

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13
Q

Pareto Principal

A

80/20 Rule

20% Cx generate 80% demand
Heavy users

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14
Q

Bases for Segmenting Business Markets

A
  1. Company Characteristics
    - Geographic location
    - Type/Size of Company
    - Product Use
    - Type of Cx
    - Usage Rate
    - Buying org.’s structure
    - How product is used
  2. Buying Process
    - Purchase Criteria
    - Purchase Strategies
    a. Satisfiers
    b. Optimizers
    - Buyer’s Personal Characteristics
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15
Q

Steps in Segmenting a Market

A
  1. Select a Market/Product Category
  2. Choose Segmenting Bases
  3. Select Segm. Descriptors
    i.e. specific segm. variables
  4. Profile & Analyze Segments
  5. Select Target Markets
  6. Design/Implement/Maintain Mix
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16
Q

Group for which a Mktg Mix is designed/implemented/maintained, result in satisfying exchanges

A

Target Market

17
Q

Target Marketing Strategies

& Pros/Cons

A
  1. Undifferentiated Targeting
    cost-saving/low competency
  2. Concentrated Targeting
    narrowly defined/too small
  3. MultiSegment Targeting
    financial success & economies of scale/high cost & cannibalization
  4. 1-to-1 Targeting
    highly customized & loyal/high cost
18
Q

Sales of New Products
cut into
Sales of Existing Products

A

Cannibalization
產品競食

19
Q

A process that influences potential Cxs’ perception of a brand/product/org

A

Positioning

20
Q

Effective Positioning requires

A
  1. Assess position of competing product
  2. Determine dim.s underlying the positions
  3. Choose position the Mktg efforts make greatest impact
21
Q

7 Positioning Bases

A
  1. Attribute
    feature
  2. Price & Quality
    $=quality
  3. Use/Application
  4. Product User
    personality
  5. Product Class
    categorize
  6. Competitor
    against
  7. Emotion
    feel
22
Q

Changing the Cx’s perception of brand in relation to competing brands

A

Repositioning

23
Q

Guidelines for developing
Positioning Statement

A
  1. Targeted Cx
    Cx’s description
  2. Frame of Reference
    product benefit & how it’s used
  3. Point of Difference
    why superior
  4. Reason to believe
    evidence of frame of ref
24
Q
  • Sustain growth in slow market
  • Correct positioning mistakes
  • Changing Cx’s perceptions of a brand

by ___

A

RePositioning

25
Q

Marketers use ___ which are characteristics of individuals/ groups/ org to divide market into segmts

A

Segmentation Bases
or variables