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Wine Marketing and Eno Tourism > Define a Market Strategy Part 2 > Flashcards

Define a Market Strategy Part 2 Flashcards

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1
Q

Wine firm strategic orientation positioning (3)

A
  1. Functional vs. symbolic
  2. customer vs. Product
  3. role of place
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2
Q

All Ten concepts to hit when marketing a product

A
  1. Product
  2. Price
  3. Place
  4. Packaging
  5. People
  6. Planning
  7. Promotion
  8. distribution
  9. Innovation
  10. Consumer
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3
Q

Market Planning Process (40

A
  1. Segmentation
  2. Target
  3. Positioning
  4. Marketing Mix
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4
Q

5 Marking types

A
  1. Mass
  2. Niche
  3. Local
  4. One-to-one
  5. by segments
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5
Q

Mass Marketing

A

Coca-cola, Model T
lower costs, more margins, but less diversity

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6
Q

Niche Marketing

A

Consumers will pay a premium price, low competition

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7
Q

Local marketing

A

single areas or shops, use of experience marketing, and cant use mass marketing

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8
Q

One-to-one Marketing

A

Clients are very involved

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9
Q

Segment marketing

A

The segment is a group of consumers with homogeneous characteristics and buying preferences. the market offer must be flexible.

The market is divided into segments, which allows for more focused marketing campaings

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10
Q

segmentation marketing

A

Segment is a group of clients with homogeneous characteristics and buying preferences. The marketing offer must be flexible.

This divides the market into segments, which allows for more focused marketing campaigns.

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11
Q

4 Advantages of segmentation marketing

A
  1. Identify preferences
  2. Identify best marketing mix
  3. Identify direct competitors
  4. Improve production creation
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12
Q

4 requirements of an attractive segment

A
  1. Good dimension
  2. Potential to produce profit
  3. Preference homogeneity within segment
  4. Growth Potential
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13
Q

9 segmentation variables

A
  1. Behavioral
  2. Consumption
  3. Cross-cultural
  4. Geographical
  5. Involvement
  6. Occasion based
  7. Quality
  8. Risk reduction
  9. Wine related Lifestyle
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14
Q

3 keys for segment success

A
  1. Measurable
  2. Relevant
  3. Accessible
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15
Q

4 Segmentation dimensions

A
  1. Geographic
  2. Demographic
  3. Physiographic (unobservable)
  4. Behavioral
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16
Q

3 Emerging segmentation bases

A
  1. Biological: Subjective tastes
  2. Sustainability: climate change
  3. Social Media
17
Q

5 Steps of segmentation process

A
  1. Starting Point
  2. Identify Segment
  3. Segment Attractiveness
  4. Positioning
  5. Marketing mix strategy

Wine Marketing and Eno Tourism (13 decks)

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