Chapter_02 Flashcards
What are the two main characteristics when it comes to market segmentation?
Quantitative factors
- Consumer-intrinsic
- age, gender, income, height, weight, education
- Consumption-based
- frequency of shopping, how many times you go on vacation
Cognitive factors
- Consumer-intrinsic
- cultural values, beliefs
- Consumption-specific
- why do you prefer iPhone rather than Samsung?
What is demographic segmentation?
- Age
- Gender
- Marital Status
- Household type and Size
- Income and Wealth; Occupation • Geographical location
Explain how the role of genders in regards to market segmentation.
- Gender roles have blurred
- Gender less accurate to distinguish among consumers in
- some product categories than it used to be
- Some ads depict mean and women in roles traditionally occupied by the opposite gender
- Some products (e.g. skin care and snacks) are marketed differently to men and women
How can ethnicity affect purchase behaviour?
- Members of the same culture often share the same values, beliefs, and customs.
- Marketers may target culturally distinct segments with the same product using different promotional appeals.
What is Benefit segmentation?
Benefit segmentation categorizes your target audience by the value they’ll receive from your product or service. Marketers use benefit segmentation to identify customers who would profit the most from their business. By pursuing these customers, the organization will improve lead acquisition and ensure customer success.
What different kinds of benefits can customers get from service providers?
Social Benefits
- Recognized/known by staff
- Treated in a way that they feel important/friendship
Special Treatment Benefits
- Helping when something goes wrong
- Receiving priority treatment
Confidence-Related Benefits
- Feel confident service will be provided correctly
- Clear descriptions of services and what to expect
Segments should be:
- Identifiable
- Profitable
- Reachable
What is real time bidding (RTB)?
A technology that allows advertisers to reach the right user in the right place at the right time, which also sets the price advertisers pay per impression or action
As an ad impression loads in a user’s Web browser, information about the page it is on and the user viewing it is passed to an ad exchange, which auctions it off to the advertiser willing to pay the highest price for it. The winning bidder’s ad is then loaded into the webpage nearly instantly; the whole process takes just milliseconds to complete
What are web crawlers?
A web crawler, spider, or search engine bot downloads and indexes content from all over the Internet. The goal of such a bot is to learn what (almost) every webpage on the web is about, so that the information can be retrieved when it’s needed. They’re called “web crawlers” because crawling is the technical term for automatically accessing a website and obtaining data via a software program.
What are Predictive Analytics?
Measures that predict consumers’ future purchases on the bases of past buying information and other data, and also evaluate the impact of personalized promotions stemming from the predictions.
What are ad exchanges?
An ad exchange is a digital marketplace that enables advertisers and publishers to buy and sell advertising space, often through real-time auctions. They’re most often used to sell display, video and mobile ad inventory.
