Term
| Age and life-cycle segmentation 167 |
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Definition
| Dividing a market into different age and life-cycle groups. |
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Term
| Behavioral segmentation 170 |
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Definition
| Dividing a market into groups based on consumer knowledge, attitude, or response to a product. |
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Term
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Definition
| Dividing the market into groups according to the different benefits that consumers seek from the product. |
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Term
| Competitive advantage 186 |
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Definition
| An advantage over competitors gained by offering consumers greater alue, either through lower prices or by providing more benefits that justify higher prices. |
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Term
| Concentrated (niche) marketing 180 |
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Definition
| A market-covereage strategy in which a firm goes after a large share of one or a few segments or niches. |
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Term
| Demographic segmentation 167 |
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Definition
| Dividing the market into groups based on demographic variables such as age, sex, family size, family life cycle, income, occupation, education, religion, race, and nationality. |
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Term
| Differentiated (segmented) marketing 179 |
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Definition
| A market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each. |
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Term
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Definition
| Diving a market into different groups based on gender. |
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Term
| Geographic segmentation 165 |
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Definition
| Divinding a market into different geographical untis such as nations, states, regions, counties, cities, or neighborhoods. |
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Term
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Definition
| Dividing a market into different income groups. |
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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 "markets-of-one marketing," "customized marketing," and "one-to-one marketing." |
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Term
| Intermarket segmentation 176 |
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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
| Tailoring brands and promotions to the needs and wants of local customer groups--cities, neighborhoods, and even specific stores. |
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Term
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Definition
| Arranging for a product 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
| Dviding a market into distinct groups with distinct needs, characteristics, or behaviors who might require separate products or marketing mixes. |
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Term
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Definition
| The practive or tailoring products and marketing programs to the needs and wants of specific individuals and local customer groups--includes local marketing and individual marketing. |
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Term
| Occasion segmentation 170 |
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Definition
| Dividing the market into groups according to occasions when buyers get the idea to buy, actually make their purchase, or use the purchased item. |
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Term
| Positioning statement 192 |
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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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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
| Psychographic segmentation 169 |
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Definition
| Dividing a market into different froups based on social class, lifestyle, or personality characteristics. |
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Term
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Definition
| A set of buyers sharing common needs or characteristics that the company decides to serve. |
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Term
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Definition
| The process of evaluating each market segment's attractiveness and selecting one or more segments to enter. |
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Term
| Undifferentiated (or mass) marketing 179 |
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Definition
| A market-coverage startegy in which a firm decides to ignore market segment differences and go after the whole market with one offer. |
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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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