Chapter 7: Segmentation, Targeting, and Positioning Flashcards

1
Q

Organizing customers based on how they interact with products

A

Behavioral Segmentation

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2
Q

The division of markets based on consumer characteristics such as , age , gender, income, education, and family size.

A

Demographic Segmentation

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3
Q

Pursuing multiple market segments with a different strategy for each

A

Differentiated Targeting

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4
Q

20% of heavy users account for 80% of the total demand

A

80/20 Rule

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5
Q

Divides markets into groups based on states, nations, regions, and neighborhoods

A

Geographic Segmentation

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6
Q

Groups consumers with common needs and wants across the world

A

Global Segmentation

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7
Q

Dividing people into groups based on opinions, interests, and activities

A

Lifestyle Segmentation

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8
Q

Dividing a existing market into smaller segments with similar characteristics

A

Market Segmentation

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9
Q

Consumers with shared wants, needs, and characteristics

A

Market Segments

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10
Q

Pursuing a large portion of a small market

A

Niche Marketing

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11
Q

Visualizes product locations relative to customers minds

A

Perceptual Map

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12
Q

Influencing a target markets perception of a product

A

Positioning

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13
Q

Describes the target market a product is for along with a image of how the firm wants others to see it.

A

Positioning Statement

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14
Q

Dividing markets using demographics, psychology, and personality traits.

A

Psychographic segmentation

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15
Q

Dividing consumers into groups based on needs and wants of a specific region or group of countries.

A

Regional Segmentation

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16
Q

Reestablishing a product’s position based on the current market

A

Repositioning

17
Q

A group of consumers that a company directs its marketing towards

A

Target Market

18
Q

Evaluating each market segments to determine which maxes out sales.

19
Q

Viewing the marketplace as a single segment

A

Undifferentiated Targeting

20
Q

Targets consumers within a single country

A

Unique Segmentation

21
Q

Market segmentation helps businesses by..

A

Defining the needs of their customers, designing specific strategies, and deciding how to allocate resources to gain a profit.

22
Q

Market Segments must be

A

Substantial, Measurable, Differentiable, Accessible, and Actionable

23
Q

Age, Gender, Income, Family / Marital Status

A

Demographics

24
Q

Nations, States, Regions, Neighborhoods

A

Geographic

25
Psychological traits, motivations, and attiudes
Psychographic
26
Loyalty, Price Sensitivity, Occasions, Usage Rate
Behavioral
27
Why do population shifts occur?
Retirement, Natural Disasters, or Economic issues
28
A segment of current customers that makes up a firms core profit
Heavy Users
29
Demographic, Geographic, Behavioral
Types of B2B segmentation
30
Industry, Size of Firm, Ownership structure
B2B Demographic Variables
31
Global, Regional, Unique
International Segmentation
32
Growth Potental, Level of Competition, and Strategic Fit
Factors used to select target markets
33
Analyze competitors positions, define advantages, evaluate feedback
Steps of Marketing Postiotning
34
How can a firms highlight their goods or services advantages?
Though the relationship between price and quality, product attributes, and application.