Segmentation, Targeting, & Positioning Part 1

Question 1

Micromarketing

Answer 1

Tailoring products and marketing programs to the needs and wants of specific individuals and local customer segments;it includes local marketing and individual marketing

Question 2

Niche

Answer 2

A specialized but profitable corner of the market

Question 3

Geodemographics

Answer 3

The study and grouping of people in a geodemographical area according to socioeconomic criterea

Question 4

PRIZM

Answer 4

Set of 66 market segments developed by Nielsen that categorize based on behavior and demography