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Marketing - 3 - IESEG
Market segmentation, target marketing, differentiation, brand positioning, marketing strategies
12
Marketing
3rd Grade
12/08/2010

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Term
What is market segmentation ?
Definition
Division of the market in subsets of consumers with similar needs
Term
What is target marketing ?
Definition
Evaluating the attractiveness of each segment to identify which will be served by the company
Term
What is product positioning ?
Definition
Designing distinct, valued, and perceptual differences for a product and marketing mix to get competitive advantage in the target market
Term
Which market realities make segmentation imperative ?
Definition
Maturing markets generate competition
Differences in income, education
Specialized media
Term
What are market segmentation criteria ?
Definition
Demographic, Geographic, Behavioural (benefit sought vs user/volume/loyalty segmentation), Lifestyle
Term
What are the 5 steps in Constructing a Market-Attractiveness/Competitive-Position Matrix for Evaluating Potential Target Markets ?
Definition
choose criteria to measure attractiveness/competitive position factors, weight, assess current position of target markets, project the future position and evaluate it
Term
What are the criteria to measure Market attractiveness and competitive position factors
Definition
[image]
Term
What are the three common targeting strategies ?
Definition
Niche-Market (small markets, specific needs), Mass-Market (ignore segments,Differentiated (several segments, products designed for each)
Term
What are the 7 steps in the positioning process ?
Definition
-Identify relevant set of products for the target market
-Write product positioning/value proposition
-identify the set of attributes in which offers compete
-collect information about perception of attributes related to each product
-determine product's current location
-Determine customers' most preferred combination of attributes
-Examine the fit between preferences of market segments and current position of product
Term
What are the three types of strategy for competitive advantage ?
Definition
Cost leadership, differentiation, focus
Term
What are the 4 types of competitive strategies related to differentiation/cost leadership
Definition
From low to high emphasis on new product-market growth :
Reactor, Defender, Analyzer, Prospector
Term
On what dimensions do business strategies differ ?
Definition
Scope, goals (adapt, efficiency, effectiveness), resource deployment, synergy
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