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Chapter 8
Segmentation, Targeting, and Positioning
7
Business
Undergraduate 3
10/16/2012

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Term
Undifferentiated target market strategy (mass marketing)
Definition
o This is used when everyone might be considered a potential user of it product
o Focuses on similarities in needs rather than differences
o Used for many basic commodities (gas, salt, sugar)
Term
Differentiated target market strategy
Definition
o Target several market segments with a different offering for each
o Helps firms gain a larger market share
o Diversifies and lowers risk (but more costly)
Term
Concentrated target market strategy
Definition
o Single, primary market
o Good strategy for entrepreneurial start-up ventures
Term
Micromarketing
Definition
o Firm tailors a product or service to suit an individual customer’s wants or needs
o Also called one-to-one marketing
o Easy for small companies, difficult for large
o Internet allows for efficient micromanagement
o Internet simplifies customer identification
Term
Methods for describing and categorizing segments
Definition
Geographic
Demographic
Psychographic
Geodemographic
Behavioral
Benefit
Term
4 Elements of segment attractiveness
Definition
Identifiable
Substantial
Responsive
Profitable
Term
Value positioning
Definition
• Unique value that a product or service provides to its customers, and how it is better than and different from those of competitors
• Goods positioned according to value and salient attributes
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