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Comm 204 > Module 6: Segmentation, Targeting and Positioning > Flashcards

Module 6: Segmentation, Targeting and Positioning Flashcards

1
Q

marketing concept that works together to create and reinforce a product’s image to consumers

A

segmentation, targeting and positioning

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2
Q

marketers include these 3 things in their strategic plans to guide marketers as they create programs to strengthen brands and ensure products stay fresh, relevant, and focused

A

target market profiles
personas
positioning statements

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3
Q

target market profiles, personas, and positioning statements are used to guide marketers as they strengthen their brands and to ensure products stay… (3)

A

fresh
relevant
focused

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4
Q

marketers need to have clear consumer insights on their target markets in terms of: (4)

A

product needs
price expectations
purchase habits
communication tools most used

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5
Q

helps marketers to group the market by similar characteristics and behaviours

A

segmentation

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6
Q

marketers choose a specific customer group/groups to target with their marketing strategy

A

targeting

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7
Q

helps us to understand how we compare to competitors who are offering similar g/s and what strategies we can use to be distinctive in minds of customers

A

positioning

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8
Q

aggregating prospective buyers into groups that have common needs and who respond similarly to marketing programs

A

marketing segmentation

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9
Q

putting buyers into groups that have similar consumption behaviour, attitudes, and target market profiles

A

marketing segmentation

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10
Q

marketers need to carefully consider who the potential ______ is for their marketing strategy

A

audience

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11
Q

help us group individual or business customers based on their similarities

A

segmentation strategies

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12
Q

companies have ________ and must be strategic in how they allocate time and money

A

limited resources

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13
Q

marketers develop this strategy to position their product as distinct as possible

A

product differentiation

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14
Q

key to successful product differentiation and market segmentation is finding the right balance between

A

satisfying customer’s individual wants and doing so profitably

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15
Q

based on the idea that not everyone wants the same thing

A

differentiation

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16
Q

a piece of the market

A

market segment

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17
Q

market can be divided into 2 segments

A
  1. consumer market

2. business market

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18
Q

aggregate group of individual consumers who purchase products for personal use

A

consumer market

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19
Q

aggregate group of companies and orgs who purchase products for business use

A

business market

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20
Q

4 forms of market segmentation strategies

A

mass marketing
segment marketing
niche marketing
individualized marketing

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21
Q

when a product with broad appeal is widely marketed to entire market with NO product or market differentiation

A

mass marketing

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22
Q

most common form of segmentation

A

segment marketing

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23
Q

involves the marketing of wide range of different products and brands to meet needs of an org’s varied target market

A

segment marketing

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24
Q

a segment market strategy is followed by companies in the

A

business-to-business market

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25
Q

each product is catered to specific product needs of distinct target market

A

segment marketing

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26
Q

where company restricts its efforts of marketing a limited product line

A

niche marketing

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27
Q

where company aims its marketing efforts to a narrow but profitable single-segment of the market that is of marginal interest to major competitors

A

niche marketing

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28
Q

individualized marketing can also be called

A

one-to-one marketing

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29
Q

involves customizing products to fit individual needs

A

individualized marketing

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30
Q

marketing strategy that targets a market segment that is less commonly pursued

A

niche marketing

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31
Q

products and service offerings are also customized to meet individual needs

A

individualized market segmentation

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32
Q

a specific group of existing and/or potential consumers to which marketers direct their marketing efforts

A

target market

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33
Q

important that marketers chose a target market that is: (6)

A 
accessible/actionable
measurable
profitable
responsive
stable
unique/differentiable
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34
Q

a target market profile can be developed using the 4 key segmentation variables

A

geographics
demographics
psychographics
behaviouristics

35
Q

descriptor of a target market looks at where a target market lives

A

geographics

36
Q

is found through a company’s market research info and other secondary data sources

A

demographics

37
Q

focuses on understanding consumer attitudes to life, their values, personalities, general interest, opinions and activities

A

psychographics

38
Q

psychographic info is based on

A

primary research

39
Q

Pepsi and Coke may vary slightly in taste but their target markets differ in attitudes, interests and opinions

A

psychographics

40
Q

concerned with how and why consumers use a product, why its purchased, desired benefits, how often purchased and used, and degree of brand loyalty

A

behaviouristics

41
Q

helps us get in the minds of consumers and understand them on a deeper level

A

target market profile

42
Q

also known as consumer profiles

A

personas

43
Q

take target market data and simplify and synthesize it so that human traits and characteristics become more memorable for marketers

A

personas

44
Q

personas add fictional details like: (2)

A

names

images

45
Q

bring target market data alive in one paragraph descriptions or snapshots of a typical consumer

A

personas

46
Q

can provide data needed to help us tailor messages and products to meet consumer’s needs

A

research companies

47
Q

research companies and segmentation analytics companies include: (3)

A

environics
Pitney Bowes
SuperDemographics

48
Q

helps Canadian companies turn demographic, lifestyle, and behavioural data into customer insights, strategy, and results

A

environics

49
Q

provides granular segmentation data through its segmentation system, which results in 57 unique lifestyle clusters

A

Pitney Bowes PSYTE HD

50
Q

helps marketing campaigns, launch new products in appropriate markets, design cost-effective mailing and sampling products, streamline new offerings, and select profitable locations for new stores

A

postal code details

51
Q

it too provides data down to the postal code level

A

SuperDemographics

52
Q

all 3 research companies detail ______, ________, and _________ consumer info by postal code and provide software for detailed analyses

A

demographic
psychographic
behavioural

53
Q

all 3 research companies (environics, pitney bowes, superdemographics) detail demographic, psychographic, and behavioural consumer info by

A

postal code

54
Q

identifying consumer needs and common characteristics in the market should be done from a ________ perspective

A

customer/consumer

55
Q

when identifying consumer needs in the market you should be looking at what drives the category and what

A

future trends are evolving

56
Q

marketers should be able to easily identify common interests and trends by analyzing

A
  • what products currently exist

- what areas of the market are expanding or shirnking

57
Q

marketers need to look for _________ and _____ in the market that point to common consumer/customer interests, usage patterns, and prevailing attitudes

A

clusters of products and gaps

58
Q

will identify the segments that exist in the market

A

cluster of products

59
Q

can provide marketers with data on market clusters which can help reveal profitable approaches and opportunities

A

segmentation analytics companies

60
Q

used to rate customers on how recent products were purchased, how often, and the dollar value of the transaction

A

RFM analysis

61
Q

RFM analysis stands for

A

recency
frequency
monetary value

62
Q

important to review the market from a _______ and NOT from a product perspective in step 2 of the marketing segmentation process

A

customer/consumer perspective

63
Q

marketers should use the following criteria to select a target market (5)

A
  • market size
  • expected growth
  • competitive position
  • compatibility with orgs objectives
  • cost
64
Q

when taking action with marketing programs to reach segments, a ________ is implemented and developed

A

marketing plan

65
Q

marketers ___________ in the market to appeal to certain target groups

A

position products

66
Q

marketers position products in the market to present a particular

A

image relative to competition

67
Q

the impression of a branded product in the consumer’s minds relative to their needs and in contrast to the competition

A

product positioning

68
Q

marketers create these to outline the position of the product

A

positioning statements

69
Q

marketers create positioning statements, then manage the _______ to meet this image

A

marketing mix

70
Q

when long-term consumer attitudes and interests change, companies

A

reposition products

71
Q

3 basic factors that surface in product positioning

A

image
product attributes
price

72
Q

products are often positioned as ______, ______, or ______ in the market

A

leaders
contenders
rebels

73
Q

products often take roles such as ______, _____, and _____ in product positioning

A

trusted
prestigious
thrifty

74
Q

products with features that differentiate them from the comp are often positioned on this platform bringing their product claims to the forefront

A

product attributes

75
Q

products with similar brand power and little differentiation, position themselves on a

A

price platform

76
Q

formalized statement that identifies the image a branded product represents in the market and what sets it apart from the comp

A

positioning statement

77
Q

are simple, clear, and focused

A

positioning statement

78
Q

positioning statement is structured as a

A

short paragraph

79
Q

visual representation of how products/ product groups/ categories are positioned in the market

A

positioning map

80
Q

visual representation of how a product compares to competitor’s products in the eyes of consumers

A

positioning map

81
Q

used by marketers to identify gaps in the market and to review the competitive nature of the market

A

positioning map

82
Q

position maps illustrate where there are gaps in offerings and where there may be _____ for a company to ________ their product to satisfy new customer segment or meet an unmet need

A

space

reposition

83
Q

is created using market research to determine 2 product attributes in a particular category that are important to consumers

A

positioning map

84
Q

positioning maps map out products as perceived by consumers on attributes and illustrates

A

how you compare to the competition

Comm 204 (7 decks)

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