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MKTG 321 - Intro to Marketing
Target Markets: Segmentation and Evaluation
11
Marketing
Undergraduate 3
06/07/2010

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Cards

Term
target-market selection process
Definition
choose targeting strategy
segmentation variables
develop market segment profiles
evaluate relevant market segments
select specific target markets
Term
targeting strategies
Definition
undifferentiated - single mktg mix (1 prdct), target everyone; requires homogeneous mkt
concentrated - single mktg mix (1 prdct), target 1 segment
differentiated - multiple mktg mix (mult prdcts), multiple segments
Term
segmentation variables
Definition
demographic - age, gender, race, etc
geographic - region, urban, climate, etc
psychographic - motives, lifestyles, personality
behavioristic - volume usage, end use, brand loyalty, price sensitivity, occasions, benefits
behavioristic
Term
micromarketing
Definition
focusing precise mktg efforts on very small geodemographic mkts
Term
benefit segmentation
Definition
division of a mkt according to benefits that consumers want from the product
Term
market potential
Definition
total amount of product, for all firms in industry, that customers will purchase within a time period at a specified level of industrywide marketing activity
Term
company sales potential
Definition
maximum percentage of market potential that one firm can expect from a specific product
Term
breakdown approach
Definition
measuring company sales potential based on a general economic forecast and the market potential derived from it
Term
delphi technique
Definition
experts create initial forecasts, submit them to the company for averaging, and have results returned to them for individual refined forecasts
Term
time-series analysis
Definition
trend analysis
cycle "
seasonal "
random
fator "
Term
market test
Definition
make a product available in small area to test
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