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Definition
| Marketing heuristic that claims 20% of purchasers account for 80% of product sales |
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Definition
| The segment of people born between 1946-1976 |
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Definition
| A technique that divides consumers into segments on the basis of how they act towards, feel about, or use a good service |
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Definition
| A distinctive image that captures a good's or service's character and benefits |
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Term
| Concentration Targeting Strategy |
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Definition
| Focusing on a firms efforts on offering one or more products to a single segment |
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| Custom Marketing Strategy |
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Definition
| An approach that tailors specific products and the messages about them to different individual customers |
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Definition
| Statistics that measure observatory aspects of a population including size, age, gender, ethnic group, income, education, occupation, and family structure |
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| Differentiated Targeting Strategy |
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Definition
| Developing one or more products for each of the several distinct customer groups and making sure thesee offerings are kept seperate in the marketplace |
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Definition
Marketing to members of a generation, who tend to share the same outlook and priorities
EX: baby boomers, Gen X, Gen Y |
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Definition
| Customizing advertising (web, print ads, radio, TV) so that people who live or log on in different places will be exposed to advertising for local businesses. |
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Definition
| segmentation technique that combines geography w/ demographics. You map demographic consumer segements to neighborhoods and regions |
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Term
Lifetime Value of Cusomer
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Definition
| An estimation of the potential profit that one consumer may provide over their lifetime |
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Definition
| The creation of many consumer groups (segments) due to diversity of distinct needs and wants in modern society |
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Definition
| An approach that modifies the basic good or service to meet the needs of an individual |
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Term
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Definition
| A vivid way to consume a picture of where product brands are "located" in consumers minds |
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Term
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Definition
| Developing a marketing strategy aimed at influencing how a particular market segment (pursuading consumers) percieves goods or services in comparison to the competition |
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Definition
| The use of psychology, sociological, and anthropological factors to construct market segments. Segments are formed based on attitudes, interests, and opinions. |
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Definition
| Updating a products position (promotional materials) to respond to new marketplace changes |
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Definition
| A discription of the "typical" customer in a segment |
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Definition
| The process of dividing a larger market into smaller pieces based on one or more meanigful shared characteristics |
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Term
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Definition
| demensions that divide the total market into fairly homogenous groups, each with different needs and preferences |
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Term
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Definition
| The % of individual customers purchase of a product that is a single brand |
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Term
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Definition
| The market segments on which an organization focuses its marketing plan and towards which it directs its marketing efforts |
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Term
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Definition
| dividing the total market into different segments on the basis of consumer characteristics, selecting one or more segments, and developing products to meet the needs of those specific segments |
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Term
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Definition
| A strategy in which marketers evaluate the attractiveness of each potential segment and decide in which of these groups they will invest resources to try to turn them into customers |
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Term
| Undifferentiated targeting strategy |
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Definition
| Appealing to a broad spectrum of people |
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Term
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Definition
| An indicator used in one type of marketing segmentation based on when consumers use a product most |
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