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| Companies themselves vary widely in their abilities to serve different ___________ of the market. |
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| A company must identify the parts of the market that it can serve ______ and most _______ |
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| Most companies have moved away from mass marketing, toward ________ marketing |
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There are three major steps in target marketing:
a. the first is market __________, dividing a market into distinct groups who might require separate products and/or marketing mixes.
b. the second step is market ________, evaluating each segment's attractiveness and selecting one or more of the market segments.
c. The third step is market ____________, developing competitive positioning for the product and an appropriate marketing mix. |
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Definition
| segmentation, targeting, positioning |
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| ___________ segmentation is dividing the market into different units, such as nations, states, regions, counties, cities, or neighborhoods. |
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| Knowledge of geographic customer preferences is particularly important in ____________ and __________ where immigration has a created pockets of customers with very different product/service preferences. |
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| The success of local and regional tourism depends on creative __________ segmentation. |
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| _____________ segmentation consists of dividing the marketing into groups based on variables such as age, life cycle, gender, income, occupation, education, religion, race, and nationality. |
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| Even when segments are first defined using other bases, _________ characteristics must be known to assess market size, and to reach it efficiently. |
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| Consumer ____________ change with age and some companies offer different products or strategies to penetrate various age & life-cycle segments. |
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| __________ marketing is not simplistic, since a "typical" male or female does not exist, and many companies have erred trying to develop and market a product or service for such an individual. |
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| The ______-income consumer is by far the largest segment for the hospitality industry |
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| _______ does not always predict which customers will buy a given product or service. |
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| __________ segmentation divides buyers based on social class, lifestyle, and personality characteristics |
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| For ________ segmentation, buyers are divided into groups based on knowledge, attitude, and use or response to a product. |
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| ________ segmentation helps firms build product use, as buyers can be grouped according to occasions when they make a purchase or use a product. |
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| A ______ is a positive outcome received from a product feature. |
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| Marketers need to find ways to enhance __________ ties between the consumer and the hotel brands. |
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| In the hospitality and travel industries, marketers attempt to build brand loyalty through __________ marketing. |
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Not all segmentation methods are equally effective, so to be useful, market segments must have the following characteristics:
a. ____________ - the degree to which the segment's size and purchasing power can be measured.
b. ____________ - the degree to which segments can be assessed and served.
c. ____________ - the degree to which segments are large or profitable enough to serve as markets.
d. ____________ - the degree to which effective programs can be designed for attracting and serving segments. |
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Definition
measurability
accessibility
substantiality
actionability |
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| A company should enter segments only where it can gain __________ advantages over competitors. |
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| A _________ market consists of a set of buyers who share common needs or characteristics that the company decides to serve. |
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A firm can adopt one of the three market-coverage strategies:
a. ____________ marketing
b. ____________ marketing
c. ____________ marketing |
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Definition
| undifferentiated, differentiated, concentrated |
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Term
| In an ____________ marketing strategy, a company ignores market segmentation differences and goes after the entire market with one market offer. |
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| Using _______ marketing strategy, a company targets several market segments and designs separate offers for each. |
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| A third strategy, ___________ marketing, is appealing to companies with limited resources - instead of going for a small share of a large market, the firm pursues a large share of one or a few small markets. |
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| A product's _________ is the way the product is defined by consumers on important attributes. |
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| When two or more firms pursue the same position, each must seek further ____________. |
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The positioning tasks consists of three steps:
a. __________ a set of possible competitive advantages on which to build a position
b. __________ the right competitive advantages
c. effectively ____________ and delivering the chosen position to a carefully selected target market |
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Definition
| identifying, selecting, communicating |
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| __________ differentiation requires selecting customer-contact people carefully and training them well. |
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| Even when competing offers look the same, buyers may perceive a difference based on company or brand _______. |
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| As companies increase the number of claims for their brands, they risk disbelief and loss of clear ____________. |
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In general, a company needs to avoid three major positioning errors:
a. ______________, or failing to position the company at all
b. ______________, or giving buyers too narrow a picture of the company
c. _____________ positioning, leaving buyers with a confused image of a company |
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Definition
underpositioning
overpositioning
confused |
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