Term
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Definition
| The activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, stockholders, and society |
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Definition
| The trade of things of value between buyer and seller so that each is better off after the trade |
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Term
| What is needed for mktg to occur? 4 |
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Definition
1. Two or more parties with in satisfied needs
2. Desire and ability to satisfy these needs
3. A way for the parties to communicate
4. Something to exchange |
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Definition
| When a person feels deprived of basic needs and necessities |
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Definition
| Need that is shaped by a person's knowledge, culture, personality |
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Definition
| Made up of potential consumers or people with desire and ability to purchase |
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Definition
| One or more specific groups of potential consumers toward which an organization directs it's marketing program |
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Term
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Definition
Product, price, promotion, place
The marketing manager's controllable factors that can be used to solve a marketing problem |
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Definition
| Good, service, or idea to satisfy consumer needs |
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Definition
| What is exchanged for the product |
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Definition
| A means of communication between seller and buyer |
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Definition
| Means of getting product to consumer |
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Definition
Beyond the control of marketers, involve social, economic, technological, competitive, and regulatory
Serve as accelerators or brakes on marketing |
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Term
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Definition
The unique combination of benefits received by targeted buyers that includes quality, convenience
Firms try to place $value on purchases of loyal consumers |
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Term
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Definition
| Linking the organization to its individual customers, employees, suppliers, and other partners |
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Term
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Definition
| Plan that integrated the marketing mix to provide a good, service, or idea to prospective buyers |
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Term
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Definition
| Early years of US (1920) goods were scarce and buyers were willing to accept virtually anything that was available |
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Term
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Definition
| 1920-1960s manufacturers produced more than consumers needed. Competition growth |
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Term
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Definition
| 1950s idea that organization should strive to satisfy needs of consumers while trying to achieve the organizations goals |
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Term
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Definition
| When organization focuses it's efforts on 1continuously collecting info about needs 2sharing this information across departments 3using it to create consumer value |
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Term
| Customer relationship era |
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Definition
| For seeks to continue to satisfy high expectations of the consumer |
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Term
| Customer relationship management |
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Definition
| Process of identifying prospective buyers, understanding them intimately, developing favorable long-term perceptions of the organization so that customers choose it |
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Term
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Definition
Internal response that customers have to all aspects of an organization and it's offering
Can be direct or indirect (word of mouth or perception) |
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Definition
| The view that organizations should satisfy the needs of consumers in a way that provides for society's well being |
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Term
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Definition
| Study of aggregate flow of a nation's goods and services to benefit society |
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Definition
| How company allocates resources to benefit customers |
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Definition
| Physical objects that satisfy consumer needs |
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Definition
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Definition
| Thoughts about concepts, actions, or causes (most often marketed by nonprofits) |
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Definition
| People who use the good or service for a household |
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Definition
| Manufacturers, wholesalers, retailers, and government agencies that buy for own use or resale |
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Term
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Definition
The benefits or customer value received by users of the product.
form- production of a good or service
place- having offering available for those who need it
time- available when needed
possession- value of making an item easy to purchase |
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Term
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Definition
| A legal entity that consits of people wih common mission |
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Term
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Definition
| Products, services, or ideas, that create value for both the organization and its customers by satisfying their needs and wants |
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Term
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Definition
| Privately owned organization that serves to profit |
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Term
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Definition
| The money left after a business' total expenses are subtracted from revenues. The reward for the risk undertaken in offering the product or service |
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Term
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Definition
A non-governmental organization that serves its customers but without profit
Goals may be operational efficiency or client satisfaction |
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Term
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Definition
Made of organizations with similar offerings
Organizations make strategic decisions that reflect the dynamics of the industry to create a compelling and sustainable advantage |
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Term
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Definition
| An organization's long-term course of action designed to deliver a unique customer experience while achieving its goals |
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Term
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Definition
| Organizational Level where top management directs overall strategy for the entire organization. Board of directors, CEO, CMO |
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Term
| Strategic Business Unit Level |
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Definition
| Organizational level where managers set a more specific strategic direction for their business to exploit value-creating opportunities |
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Term
| Strategic Business Unit SBU |
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Definition
| A subsidiary, division, or unit of an organization that markets a set of related offerings to a clearly defined group of customers |
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Term
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Definition
| Organizational level where groups of specialits actually create value. Divided in departments |
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Term
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Definition
| Teams with people of different departments who are mutually accountable to accomplish a common set of goals |
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Term
| Organizational Foundation |
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Definition
(WHY)
-Core values
-Mission
-Orgnanizational Culture |
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Term
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Definition
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Term
| Organizational Strategies |
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Definition
(HOW)
-By level: corp, SBU, Functional
-By offering: Product, Service, Idea |
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Term
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Definition
The fundamental, passionate, and enduring principles that guide the firm's conduct over time. Timeless
-Capture firm's heart and soul to inspire and motivate stakeholders |
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Term
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Definition
| A statement of the organization's function in society that often identifies its customers, markets, products, and tech. Clear, concise, meaningful, inspirational, long-term |
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Term
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Definition
| The set of values, attitudes, and normas of behavior that is learned and shared among members of the organization |
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Term
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Definition
| Describes the clear, broad, underlying industry or market sector of an organization's offering |
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Term
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Definition
| Strategies an organization develops to provide value to customers |
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Term
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Definition
| Statements of an accomplishment of a task to be achieved |
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Term
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Definition
| Visual computer display of essential information related to achieving a marketing objective |
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Term
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Definition
| Measure of the quantitative value or trend of a marketing activity or result |
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Term
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Definition
| Graphical representation used to quickly spot deviations from plans, and take corrective actions |
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Term
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Definition
| Road map for the marketing activities of an organization for a specified future time period |
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Term
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Definition
| Special capabilities that distinguish firm from other organizations and provide customer value. Exploiting these leads to success |
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Term
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Definition
| A unique strength relative to competitors that provides superior returns |
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Term
| Business Portfolio Analysis |
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Definition
Developed by Boston Consulting Group
A technique that managers use to quantify performance measures and growth targets to analyze SBUs |
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Term
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Definition
| Stars, Question Marks, Cash Cows, dogs |
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Term
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Definition
| Technique that helps the firm search for growth opportunities among current and new products |
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Term
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Definition
| Marketing strategy to increase sales of current products in current markets |
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Term
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Definition
| To sell current products to new markets |
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Term
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Definition
| Selling new products to current markets |
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Term
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Definition
| New products in new markets |
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Term
| Strategic Marketing Process |
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Definition
| A firm allocates its marketing mix resources to reach its target markets (planning, implementation, evaluation) |
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Term
| Situation Analysis (SWOT) |
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Definition
Strengths, Weaknesses, Opportunities, Threats
Taking stock of where the furm or product has been recently, now, and in the future
-ID trends in organization's industry
-Analyze competitors
-Assess self
-Research present and future customers |
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Term
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Definition
| Build on strength, Exploit and opportunity, Correct a weakness, Avoid a disaster-laden threat |
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Term
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Definition
| Involves aggregating prospective buyers into groups or segments that 1. have common needs and 2. respond similarly |
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Term
| The Planning Phase of the Strategic Marketing Process |
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Definition
1. SWOT Analysis- a. Build on a strength b. Exploit and opportunity c. Correct a weakness d. Avoid threat
2. Market-Product Focus and Goal Setting- a. Set marketing and product goals b. Find points of difference c. Select tarrget markets d. Position the product
3. Marketing Program- a. Product strategy b. Promotion strategy c. Price strategy d. place strategy |
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Term
| Implementation Phase of the Strategic Marketing Process |
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Definition
1. Obtaining resources
2. Designing the marketing organization
3. Developing planning schedules
4. Executing the marketing program |
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Term
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Definition
| The means by which the marketing goal is achieved |
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Term
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Definition
| Detailed day-to-day decisions essential to the overall success of marketing strategies |
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Term
| Evaluation Phase of the Strategic Marketing Process |
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Definition
To keep the marketing program moving in the direction set for it
1. Comparing Results with Plans to ID Deviations
2. Acting on Deviations |
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Term
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Definition
| The difference between the projection of the path to reach a new goal and the projecton of the path of the results of a plan already in place |
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Term
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Definition
| The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends |
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Term
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Definition
| Include the demographic characteristcs of the population and its values |
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Term
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Definition
| Selective characteristics such as age, gender, ethnicity, income, and occupation |
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Term
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Definition
| Born 1946-1964, retiring at rate of 10,000 every 24 hours, will all be older than 65 by 2030. Wealthiest generation in US history. Makes up 50% of all consumer spending |
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Term
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Definition
| Born 1965-1976, 15% of population. AKA baby bust. Self-reliant, supportive of diversity, better educated, collaborative decision makers, less than baby boomers |
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Term
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Definition
| Born 1977-1994. AKA Echo-boom or Baby boomlet. Exerts influence on music, sports, computers, video games, networking, strong-willed, passionate about the environment, optimistic |
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Term
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Definition
| Merged two previously separated units into the same home |
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Term
| Fastest growing household |
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Definition
| 1 adult child returning to parents or unmarried couples. Cohabitation helps cope with unemployment |
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Term
| Metropolitan Statistical Area |
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Definition
| At least 1 urbanized area of 50,000 or more people and adjacent territory has high degree of social and economic integration |
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Term
| Micropolitan Statistical Area |
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Definition
| At least 1 urbanized area of 10,000-50,000 people and adjacent territory has high degree of social and economic integration |
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Term
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Definition
| Population of 2.5 million people or more |
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Term
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Definition
| Combinations of the marketing mix that reflect the unique attitudes, ancestry, communication, preferences, and lifestyles of different races. Accurate uderstanding of each is essential |
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Term
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Definition
| Incorporates the set of values, ideas, and attitudes that are learned and shared among group members |
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Term
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Definition
| Personal control, continuous change, action equality, individualism, self-help, competition, future orientation |
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Term
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Definition
| The concern for obtaining the best quality, features, and performance of a product or service for a given price |
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Term
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Definition
| The income, expenditures, and resources that affect the cost of running a business and household |
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Term
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Definition
| Performance of economy based on GDP, unemployment, and price changes |
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Term
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Definition
| The total amount of money made in 1 year by a person, household, or family unity |
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Term
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Definition
| The money a consumer has left after paying taxes to use for necessities (ie food, housing, clothing, transportation) |
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Term
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Definition
| The money that remains after paying taxes and necessities |
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Term
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Definition
| Inventions or innovations from applied science or engineering research |
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Term
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Definition
| Decreasing amount of packaging. Efforts by the manufacturer and consumers to avoid creating waste |
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Term
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Definition
| An information- and communication-based electronic exchange environment mostly occupied by sophisticated computer and telecommunication technologies and digitized offerings |
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Term
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Definition
| Any activity that uses some form of electronic communication in the inventory, exchange, advertisement, distribution, and payment of goods and services |
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Term
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Definition
| Internet-based networks within the organization |
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Term
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Definition
| The alternative firms that could provide a product to satisfy a specific market's needs |
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Term
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Definition
| Where there are many sellers and they each have a similar product. Distribution is important but other elements of marketing are negligible |
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Term
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Definition
| Many sellers compete with suitable products within a price range |
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Term
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Definition
| Few companies control the majority of industry sales |
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Term
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Definition
| Only one firm sells the product. Most are essential such as water, electricity, cable. Government control |
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Term
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Definition
| Business practices or conditions that make it difficult for new firms to enter IE capital requirement, ad expenses, product identity |
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Term
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Definition
| When number of buyers is low, there's a low switching cost, or the product represents a significant share of the buyer's total costs. Can exert pressure on price competition |
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Term
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Definition
| Consists of restrictions state and federal laws place on business with regard to conduct of its activities. Protects consumers from unfair practices and ensures safety |
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Term
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Definition
| Forbids contracts, combinations, or conspiracies in restraint of trade and actual monopolies or attempts to monopolize any part of trade or commerce |
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Term
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Definition
| Gives inventors the right to exclude others from making, using, or selling products that infringe the patented invention |
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Term
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Definition
| Authority over literary, dramatic, musical, or artistic work. The excluse right to print, perform, or copy the work |
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Term
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Definition
| Grassroots movement (1960s) to increase the influence, power, and rights of the consumers in dealing with institutions |
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Term
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Definition
| An arrangement a manufacturer makes with a reseller to handle only its products and not competitors' |
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Term
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Definition
| Require a buyer to purchase all or part of its needs for a product from one seller for a period of time |
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Term
| Exclusive Territorial Distributorships |
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Definition
| Third distributier issue often under regulatory scrutiny. Manyfacturer grants a distributor the sole rights to sell a product in a specific geographical area |
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Term
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Definition
| A seller requires the purchaser of one product to alos buy another item in the line |
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Term
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Definition
| Federal Trade Commission: has power to issue cease and desist orders and order corrective advertising |
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Term
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Definition
| Voluntary alliance of companies whose legal goal is to help maintain fair practices. Has no legal power. Just moral suasion to get others to comply |
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Term
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Definition
| The actions a person takes in purchasing and using products and services, including the mental and social processes that come before and after these actions |
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Term
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Definition
| Perceiving a differene between a person's ideal and actual situations big enough to trigger a decision |
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Term
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Definition
| Scanning memory for previous experienes with product or brand |
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Term
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Definition
| Rish high, cost low. Looking through personal resources (relatives, friends, people we trust), public resources (rating organizations), and marketer-dominated-information from seller |
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Term
| Consumer Purchase Decsion Process |
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Definition
1. Problem Recognition: Perceiving a Need
2. Information Search: Seeking Value
3. Alternatve Evaluation: Assessing Value
4. Purchase Decision: Buying Value
5. Postpurchase Behavior: Value in Consumtion or Use |
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Term
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Definition
| Represent both the objective attributes of a brand and objective ones you use to compare products and brands (trying to create best value) |
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Term
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Definition
| Group of brands that you would consider from all the brands of which you are aware |
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Term
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Definition
| Feeling of postpurchase psychological tension or anxiety. Will attempt to applaud self for the choice and seek information that is consistent with the decision made |
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Term
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Definition
| Level of personal, social, and economic significance of the purchase to the consumer |
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Term
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Definition
| When each of the 5 stages of te consumer purchase decision process is used and time and effort are high. High involvement |
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Term
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Definition
| When consumers seek some information or rely on a friend to help evaluate alternatives, not deep problem solving |
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Term
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Definition
| When consumer spends little time and effot seeking external information and evaluation. Habit, low involvement. Typically with low cost, often purchased products |
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Term
| Involvement and Marketing Strategy |
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Definition
| If a company markets a low investment product and its brand is a market leader, it will pay attention to: a. maintaining product quality, b. avoiding stockout situations so buyers don't substitute, c. repetitive ads |
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Term
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Definition
1. Purchase tast: reason why deciding
2. Social Surroundings: who else is present
3. Physical Surroungins: decor, music, crowding
4. Temporal Effects: time of day, amt of time available
5. Antecedent States: mood and cash on hand |
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Term
| Pyschological Influences on Consumer Behavior |
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Definition
Motivation and Personality
Learning
Perception
Values, Beliefs and Attitudes
Consumer Lifestyle
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Term
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Definition
| The energizing force that stimulates behavior to satisfy a need. Basic needs and learned needs |
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Term
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Definition
| A person's consistent behaviors or responses to recurring situations |
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Term
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Definition
| (Ideal/Actual) The way people see selves or believe others see them |
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Term
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Definition
| The process by which an individual selects, organizes, and interprets information to create a meaningful picture of the world |
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Term
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Definition
| A filtering of exposure, comprehension, and retention |
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Term
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Definition
| When people pau attention to messages that are consistent with their attitudes and ignore what is inconsistent |
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Term
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Definition
| Interpreting information so that it is consistent with your attitude |
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Term
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Definition
| Consumers do not remember al the information they see, read, or hear, even minutes after exposure. Typically choose what to retain |
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Term
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Definition
| You see or hear messages without awareness |
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Term
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Definition
| The anxiety felt because the consumer can't anticipate the outcomes of a purchase but they think they may be negative. Affects consumer's info search so that the more apprehension leads to more research |
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Term
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Definition
| Behaviors that result from repeated experience and reasoning |
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Term
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Definition
| Process of developing automatic responses to a situation built up through repeated exposure to it |
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Term
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Definition
| A need that moves an individual to action |
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Term
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Definition
| Stimulus or symbol perceived by consumers |
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Term
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Definition
| Action taken to satisfy a drive or need |
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Term
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Definition
| Response elicited by one cue is generated for another cue |
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Term
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Definition
| A person's ability to perceive differences in stimuli |
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Term
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Definition
| Making connections between two or more ideas or simply observing the outcomes of others' behaviors and adjusting your own accordingly |
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Term
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Definition
| The favorable attitude toward a consistent purchase of a single brand over time |
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Term
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Definition
A learned predisposition to respond to an object or class of objects in a consistent favorable or unfavorable way
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Term
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Definition
| A consumer's subjective perception of how a product or brand performs on different attributes. Based on personal experience, advertising, discussions |
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Term
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Definition
| A mode of living that is identified by how people spend their time and resources, and what they think of themselves and the world |
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Term
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Definition
| Analysis of consumer lifestyles which provides insights into consumer needs and wants. Often used to uncover consumer motivation for buying and using products |
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Term
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Definition
| Individuals who exert direct or indirect social influence overothers. considered to be knowledgeable. Spokesperson to represent products |
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Term
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Definition
| The influencing of people during conversation. Most powerful and authentic information source |
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Term
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Definition
People to whom an individual looks as a basis for self appraisal or source of personal standards
Membership, aspiration, and dissociative groups |
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Term
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Definition
| The process by which people acquire the skills, knowledge, and attitudes to function as consumers. Kids learn from interaction while parents shop |
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Term
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Definition
| Concept that describes the distinct phases that a family progresses through from formation to retirement, each phase bringing identifiable purchasing behaviors |
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Term
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Definition
| May be spose-dominant or joint. Roles of individual members in the family: info gatherer, influencer, decision maker, purchaser, user |
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Term
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Definition
| The relatively permanent, homogeneous decisions in a society into which people sharing similar values, interests, and behaviors can be grouped. Based on occupation, source in income, and education |
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Term
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Definition
| The set of values, ideas, and attitudes that are learned and shared among the members of a group |
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Term
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Definition
| Subgroups within the larger, or national, culture with unique values, ideas, and attitudes |
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Term
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Definition
| Marketing of goods and services to companies, governments, or non-profit organizations for use in the creation of gods and services that they can produce and market to others |
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Term
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Definition
| Manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale |
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Term
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Definition
| Firms that in some way reprocess a product or service that they buy before selling it again to the next buyer |
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Term
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Definition
| Wholesalers and retailers that buy physical products and resell them again without any reprocessing |
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Term
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Definition
| Federal, state, and local agencies that buy goods and services for the constituents they serve |
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Term
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Definition
| North American Industry Classification System- Provides common industry definitions for Canada, Mexico, US. Makes it easier to measure economic activity in these three countries |
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Term
| Characteristics of Organizational Buying |
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Definition
| Market, Product or Service, Buying Proess, Marketing Mix |
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Term
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Definition
| The demand for industrial products and services is driven by, or derived from, demnd for consumer products and services |
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Term
| Organizational Buying Objectives |
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Definition
| Main reason is to help them achieve objectives, usually to increase profits through reducing costs and increasing revenue |
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Term
| Organizational Buying Criteria |
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Definition
Objective attributes of the supplier's products and services and the capabilities of the supplier itself.
1. Price 2. Ability to meet the quality specifications required for the item 3. The ability to meet required delivery schedules 4. Tech ability 5. Warranties and claim policies in the event of poor performance 6. Past performance of previous contracts 7. Production facilities and capacity |
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Term
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Definition
| Standards for registration and certification of a manufacturer's quality management and assurance system based on an on-site audit of pracices and procedures |
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Term
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Definition
| The deliberate effort by organizational buyers to build relationships that shape suppliers' products, services, and capabilities to fit a buyer's needs and those of its customers |
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Term
| Just-In-Time Inventory System |
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Definition
| System that reduces the inventory of production parts to those to be used within hours or days making on-time delivery more important |
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Term
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Definition
| Industrial buying practice in which two organizations agree to purchase each other's products and services |
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Term
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Definition
| When a buyer and its supplier adopt mutually beneficial objectives, policies, and procedures for lowering cost and increasing value |
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Term
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Definition
| Individuals who share common goals, risks, and knowledge important to a purchase decision |
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Term
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Definition
Classes vary on whether it's a type of rebuy (straight or new) or new
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Term
| Organizational Buying Behavior |
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Definition
| The decision-making process that orgnizations use to establish the need for products and services and identify, evaluate, and choose among alternative brands and suppliers |
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Term
| Problem Recognition (Org Level) |
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Definition
| Marketing research and sales departments observe that competitors are improving and they need to improve as well |
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Term
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Definition
| An evaluation of whether components and assemblies will be purchased from outside suppliers or built by the company itself |
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Term
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Definition
| Systematic appraisal of the design, quality, and performance of a product to reduce purchasing costs |
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Term
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Definition
| A list of firms believed to be qualified to supply a given item. Firms selected from here are sent a quotation request |
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Term
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Definition
| Online trading communities that bring ogether buyers and supplier organizations |
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Term
| Independent E-Market Places |
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Definition
| Act as a neutral third party providing platform for exhange. Has thousands of geographically dispersed buyers and sellers, volatile prices, time sensitivity, easy comparison of them |
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Term
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Definition
| Focus on streamlining a company's purchase transactions with its supplier and customer. Not neutral, represent interest of owner |
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Term
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Definition
| A seller puts an item up for sale and would-be buyers are invited to bid in competition with each other |
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Term
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Definition
| Buyer communicates a need for a product or service and would-be suppliers are invited to bid in competition with each other |
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Term
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Definition
| The process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions |
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Term
| 5 Step Marketing Research |
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Definition
1. Define the Problem
2. Develop the Research Plan
3. Collect the Relevant Information
4. Develop Findings
5. Take Marketing Actions |
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Term
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Definition
| Provides ideas about a relatively vague problem |
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Term
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Definition
| Trying to find the frequency that something occurs or extent of a relationship between two factors |
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Term
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Definition
| Most sophisticated. Tries to determine the extent the change in one factor changes another |
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Term
| Measures of Success for possible mktg actions |
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Definition
| Criteria or standards used in evaluating proposed solutions to the problem |
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Term
| Step 1: Define the Problem |
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Definition
Set the research objectives (specific measurable goals)
Identify possible marketing actions- different outcomes must lead to different marketing actions |
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Term
| Step 2: Develop the Research Plan |
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Definition
Specify contraints
Identify data needed for marketing actions
determine how to collect data |
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Term
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Definition
| Ideas about products or services. New product concepts are pictures or verbal descriptions of the possible product |
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Term
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Definition
| The approaches that can be used to collect data to solve problems. |
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Term
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Definition
| The facts and figures related to the problem |
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Term
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Definition
| Facts and figures already recorded before the project. Internal or External |
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Term
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Definition
Newly collected for the project
Watching people, Asking people, Social Media, Panels and experiements, Data mining |
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Term
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Definition
| Obtained by watching either mechanically or in person how people actually behave |
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Term
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Definition
Analyze the data
Present the findings |
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Term
| Step 5: Take Marketing Actions |
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Definition
Make action recommendations and evaluate results
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Term
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Definition
| The total sales of a product that a firm expects to sell during a specified time period under specified environmental conditions and its own marketing efforts |
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Term
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Definition
| Homogeneous groups of prospective buyers |
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Term
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Definition
| Helps consumers perceive the prodict as being different and better than competing products |
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Term
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Definition
| Framework to relate the market segments of potential buyers to products offered or potential marketing actions |
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Term
| One Product and Multiple Market Segments |
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Definition
| Attempting to sell one product in two or more market segments. Avoids extra cost of developing and producing additional versions of the product |
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Term
| Multiple Products and Multiple Market Segments |
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Definition
| Very effective if meets customers' needs better, doesn't reduce quality or increase price, and adds to sales revenues and profits |
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Term
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Definition
| Mass customization. Each customer has unique needs and wants and requires special care. Internet ordering and flexible manufacturing and marketing processes make it possible |
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Term
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Definition
| Increased cusomer value achieved through performing organizational function |
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Term
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Definition
| One segment stealing cusomers and sales from the other |
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Term
| Steps in Segmenting and Targeting Markets |
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Definition
1. Group Potential Buyers into Segments
2. Group Products to Be Sold into Categories
3. Develop a Market-Product Grid and Estimate the Size of Markets
4. Select Target Markets
5. Take Marketing Actions to Reach Target Markets |
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Term
| Criteria to Form Segments |
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Definition
-Simplicty and cost effectiveness
-Potential for increased profit
-Similarity of needs of similar buyers
-Difference of needs among segments
-Potential of a marketing action to reach a segment |
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Term
| Ways to Segment Consumer Markets |
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Definition
-geographic region
-demographic (age, gender, income, occupation)
-psychographic (mental attributes, lifestyle, personality)
-behavioral (observable actions and attitudes) |
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Term
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Definition
Quantity consummed or patronage during a specific period
80/20 rule: majority of sales obtained by minority of customers |
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Term
| Criteria in Selecting Target Segments |
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Definition
-market size
-expected growth
-competitive position
-cost to reach the segment
-compatibility with the firm's goals |
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Term
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Definition
| Horizontal across grid, each new represents an opportunity for efficiency in terms of a market segment |
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Term
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Definition
| Vertically down the market-product grid, each columb represents an opportunity for efficiency in research and development and production |
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Term
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Definition
| The place a product occupies in consumers' minds on important attributes relative to competing products |
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Term
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Definition
| Changing the place a product occupies in a consumer's mind relative to competitive products |
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Term
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Definition
| Competing directly with competition on similar product attributes in the same target market |
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Term
| Differentiation Positioning |
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Definition
| Seeking a less competitive, smaller market niche in which to locate a brand |
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Term
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Definition
| Means of displaying or graphing in two dimensions the location of products or brands in minds of consumer |
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