Chapter 6 - Segmentation Flashcards
consumer market
Goods, services, and ideas that a person can purchase, use, or support for personal use
business market
Products that are purchased either to run a business or to be used as a component in another product or service.
market segmentation
The aggregation of prospective buyers into groups that have common needs and respond similarly to marketing programs
product differentiation
Positioning a product to a target group so that it appears distinct from competitive offerings.
mass marketing
Marketing a product with broad appeal to the entire market without any product or marketing differentiation
niche marketing
Marketing a limited product line to a narrow but profitable segment of the market that is of marginal interest to major competitors.
individualized marketing
One-to-one marketing that involves customiz- ing offers and, in some cases, products to fit individual needs
target market profile
A description of the target market that contains specific information about the target group in four areas: geograph- ics, demographics, psychographics, and behaviouristics.
geographics
Where a target mar- ket lives, using vari- ables such as country, region, province, city size, and population density, such as urban, suburban, or rural.
give examples of geographics
- Region
- City
give examples of demographics
- age
- family status
- gender
- income
- occupation
- home ownership/renter
- ethnicity
give examples of psychgraphics
- personality traits
- lifestyle values
- hobbies
- technology usage
give examples of behavioristics
- the occasion for use of products
- frequency of use
- product usage rate
- secondary product usage
psychographics
Understanding consumers’ attitudes to life, values, personalities, general interests, opinions, and activities.
behaviouristics
How and why consumers buy and use a product, including the desired product benefits, how frequently they buy, where they buy, and whether consumers are brand loyal in their purchase behavior.
