Term
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Definition
| dividing a market into smaller segments with distinct needs, characteristics, or behavior that might require separate marketing strategies or mixes |
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Term
| market targeting (targeting) |
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Definition
| the process of evaluation each market segments attractiveness and selecting one or more segments to enter |
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Term
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Definition
| actually differentiating the market offering to create superior customer value |
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Term
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Definition
| arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers |
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Term
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Definition
| dividing a market into different geographical units such as nations, states, regions, countries, cities or neighborhoods |
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Term
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Definition
| dividing the market into segments based on variables such as age, gender, family size, family life cycle, income, occupation, education, religion, race, generation, and nationality |
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Term
| age and life-cycle segmentation |
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Definition
| dividing a market into different age and life-cycle groups |
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Term
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Definition
| dividing a market into different segments based on gender |
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Definition
| dividing a market into different income segments |
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Term
| psychographic segmentation |
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Definition
| dividing a market into different segments based on social class, lifestyle, or personality characteristics |
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Term
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Definition
| dividing a market into segments based on consumer knowledge, attitudes, uses, or responses to a product |
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Term
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Definition
| divind the market into segments according to occasions when buyers get the idea to buy, actually make their purchase, or use the purchased item |
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Term
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Definition
| dividing the market into segments according to the different benefits that consumers seek from the product |
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Term
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Definition
| forming segments of consumers who have similar needs and buying behavior even though they are located in different countries |
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Term
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Definition
| a set of buyers sharing common needs or characteristics that the company decided to serve |
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Term
| undifferentiated (mass) marketing |
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Definition
| a market-coverage strategy in which a firm decided to ignore market segment differences and go after the whole market with one offer |
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Term
| differentiated (segmented) marketing |
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Definition
| a market-coverage strategy in which a firm decided to target several market segments and designs separate offers for each |
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Term
| concentrated (niche) marketing |
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Definition
| a market-coverage strategy in which a firm goes after a large share of one or a few segments or niches. |
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Term
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Definition
| the practice of tailoring products and marketing programs to the needs and wants of specific individuals and local customer segments--includes local marketing and individual marketing |
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Term
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Definition
| tailoring brands and promotions to the needs and wants of local consumers segments--cities, neighborhoods, and even specific stores |
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Term
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Definition
| tailoring products and marketing programs to the needs and preferences of individual customers--also labeled "one-to-one marketing," "customized marketing," and "markets of one marketing" |
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Term
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Definition
| the way the product is defined by consumers on important attributes--the place the product occupies in consumers' minds relative to competing products |
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Term
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Definition
| an advantage over competitors gained by offering greater customer value, either through lower prices or by providing more benefits that justify higher prices |
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Term
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Definition
| the full positioning of a brand--the full mix of benefits upon which it is positioned |
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Term
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Definition
| a statement that summarizes company or brand positioning--it takes this form: to (target segment and need) our (brand) is (concept) that (point-of-difference) |
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