Segmentation, targeting, and positioning

Question 1

market segmentation

Answer 1

Identify bases for segmenting the market, Develop segment profiles

Question 2

target marketing

Answer 2

Develop measure of segment attractiveness, Select target segments

Question 3

market positioning

Answer 3

marketing mix that gives customers a clear, distinct, and desirable understanding of what the product does or represents, also in comparison with competing products.

Question 4

demographic segmentation

Answer 4

Market segmented by Age, gender, household size, income, occupation, education, nationality, religion, ethnicity

Question 5

geographic segmentation

Answer 5

market segmented by region, city/county size, population density, climate, city,
neighborhood

Question 6

psychographic segmentation

Answer 6

market segmented by lifestyle, personality, attitudes, values

Question 7

benefit segmentation

Answer 7

Group consumers according to the benefits they seek in a product (product features, quality, service)

Question 8

behavioral segmentation

Answer 8

Usage rate (heavy vs. light users), Occasion (when the product is bought or consumed)

Question 9

segment profitability

Answer 9

Segment profitability = segment size x adoption rate x purchase behavior x profit margin – fixed costs

Question 10

undifferentiated targeting strategy

Answer 10

mass marketing

Question 11

differentiated targeting strategy

Answer 11

different marketing mixes for each of two or more market segments

Question 12

concentrated targeting strategy

Answer 12

selecting and serving a single, primary target market

Question 13

micromarketing

Answer 13

one-to-one strategy

Question 14

perceptual mapping

Answer 14

Can be used to understand the existing market and one’s own position in that market, as well as identify opportunities to change that position or fertile areas in which to position new entrants

Question 15

positioning statement

Answer 15

can help spell out what the product, brand, or organization is about