Market Segmentation, Targeting, and Position Flashcards
1
Q
Why Segment?
A
Spend money wisely
2
Q
Roles of Homogeneity vs. Heterogeneity
A
You want homogeneity WITHIN groups and heterogeneity BETWEEN groups
3
Q
Criteria for Creating Segments
A
Geographic
Demographic
Psychographic
Behavioral
4
Q
Segmentation Strategies
A
No Segmentation
Mass Customization
One Product, Multiple Market Segments
Multiple Products, Multiple Market Segments
5
Q
Cannibalization
A
New products steal sales from older existing ones
6
Q
Perceptual Map
A
Quality vs Price
This is from the point of view of the consumer
