Term
Is the segment of sufficient size?
Is the segment readily identifiable and can it be measured?
Is the segment clearly differentiated on one or more important dimensions?
Can the segment be reached in order to deliver the value of the product? |
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Definition
| Criteria for Effective Segmentation (4 questions asked) |
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Term
By region
By density of population
By size of population
By growth in population
By climate |
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Definition
| 5 Examples of Geographic Segmentation |
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Term
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Definition
| Dividing a market into meaningful smaller markets or submarkets based on common characteristics. |
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Term
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Definition
| Evaluating market segments and making a decision about which among them shows the most promise for development. |
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Term
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Definition
| The communication of sources of value to customers so they can easily make the connection between their needs and wants and what the product has to offer. |
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Definition
| Communicating and delivering value m different ways to different customer groups. |
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Definition
| Dividing consumer groups based on physical location. |
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Term
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Definition
| Dividing consumer groups based on a variety of readily measurable descriptive factors about the group. |
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Definition
| The changes in life stage that transform an individual’s buying habits. |
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Term
| psychographic segmentation |
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Definition
| Dividing consumer groups based on variables such as personality and AlOs: activities, interests, and opinions. |
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Term
| VALS (Values and Lifestyles) |
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Definition
| A psychographic instrument developed by SRI Consulting that divides U.S. adults into groups based on their primary motivation and resources. |
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Term
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Definition
| Dividing consumer groups based on similarities in benefits sought or product usage patterns. |
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Term
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Definition
| Market segments that clearly have the best chance of meeting ROI goals and the other attractiveness factors. |
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Term
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Definition
| Market segments that have reasonable potential but for one reason or another are not best suited for development immediately. |
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Term
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Definition
| Market segments that may develop emerging attractiveness for investment in the future but that do not appear attractive at present. |
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Term
| undifferentiated target marketing (mass market) |
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Definition
| The broadest approach to target marketing that involves offering a product or service that can be perceived as valuable to a very generalized group of consumers. |
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Term
| differentiated target marketing |
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Definition
| The target marketing approach that involves developing different value offering for different targeted segments. |
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Term
| concentrated target marketing (focus or niche strategy) |
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Definition
| The target marketing approach that involves targeting a large portion of a small market. |
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Term
| customized (one-to-one) marketing |
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Definition
| A marketing strategy that involves directing energy and resources into establishing a learning relationship with each customer to increase the firm’s customer knowledge. |
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Term
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Definition
| A visual tool used in positioning that allows for comparing attributes to gauge consumer perceptions of each competitor’s delivery against those attributes. |
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Term
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Definition
| Using the marketing mix approach to change present consumer perceptions of a firm’s product or service. |
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