Chapter 8

Question 1

What is psychographic segmentation?

Answer 1

Lifestyle, personality, attitudes, values

Question 2

What is behavioral segmentation?

Answer 2

usage situations, benefits

Question 3

what is segmenting a market?

Answer 3

• process of grouping customers into relatively homogeneous sets or groups depending on how they respond to marketing strategies
• WHO COULD WE EXCHANGE WITH

Question 4

What is targeting?

Answer 4

selecting a segment

WHO SHOULD WE EXCHANGE WITH

Question 5

What is positioning?

Answer 5

• The heart of marketing strategy!
• the act of designing the company’s product offering so that it occupies a distinct and valued place in the target customers’ minds.

Question 6

What does strong positioning do?

Answer 6

helps clarify the brand’s essence,

• what the brand helps the customer achieve
• how it is unique in doing so.

Question 7

what is positioning gap analysis

Answer 7

compares brands based on the importance and performance of differentiating features and benefits

Question 8

how is value created in marketing?

Answer 8

by meeting customer’s functional and emotional needs

Question 9

Which segmentation process is the most used?

Answer 9

Geographic

Question 10

What segmentation process is the most useful?

Answer 10

Behavioral

Question 11

What is the diffusion process?

Answer 11

how potential customers learn about new products, try them, and adopt or reject them.

Question 12

Unique selling proposition steps

Answer 12

1. Who is the customer–identity and buying situation?
2. How does the product’s biggest benefit solve a compelling pain point that the customer has?
3. Who are the main competitors and what makes this product unique–different from competitors?