Shared Flashcard Set

Details

Principles of Marketing
Chapter 6
24
Marketing
Undergraduate 3
02/09/2008

Additional Marketing Flashcards

 


 

Cards

Term
Age and life-cycle segmentation 167
Definition
Dividing a market into different age and life-cycle groups.
Term
Behavioral segmentation 170
Definition
Dividing a market into groups based on consumer knowledge, attitude, or response to a product.
Term
Benefit segmentation 172
Definition
Dividing the market into groups according to the different benefits that consumers seek from the product.
Term
Competitive advantage 186
Definition
An advantage over competitors gained by offering consumers greater alue, either through lower prices or by providing more benefits that justify higher prices.
Term
Concentrated (niche) marketing 180
Definition
A market-covereage strategy in which a firm goes after a large share of one or a few segments or niches.
Term
Demographic segmentation 167
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.
Term
Differentiated (segmented) marketing 179
Definition
A market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each.
Term
Gender segmentation 168
Definition
Diving a market into different groups based on gender.
Term
Geographic segmentation 165
Definition
Divinding a market into different geographical untis such as nations, states, regions, counties, cities, or neighborhoods.
Term
Income segmentation 168
Definition
Dividing a market into different income groups.
Term
Individual marketing 181
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."
Term
Intermarket segmentation 176
Definition
Forming segments of consumers who have similar needs and buying behavior even though they are located in different countries.
Term
Local marketing 181
Definition
Tailoring brands and promotions to the needs and wants of local customer groups--cities, neighborhoods, and even specific stores.
Term
Market positioning 165
Definition
Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.
Term
Market segmentation 165
Definition
Dviding a market into distinct groups with distinct needs, characteristics, or behaviors who might require separate products or marketing mixes.
Term
Micromarketing 181
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.
Term
Occasion segmentation 170
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.
Term
Positioning statement 192
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).
Term
Product position 185
Definition
The way the product is defined by consumers on important attributes--the place the product occupies in consumers' minds relative to competing products.
Term
Psychographic segmentation 169
Definition
Dividing a market into different froups based on social class, lifestyle, or personality characteristics.
Term
Target market 178
Definition
A set of buyers sharing common needs or characteristics that the company decides to serve.
Term
Target marketing 165
Definition
The process of evaluating each market segment's attractiveness and selecting one or more segments to enter.
Term
Undifferentiated (or mass) marketing 179
Definition
A market-coverage startegy in which a firm decides to ignore market segment differences and go after the whole market with one offer.
Term
Value proposition 188
Definition
The full positioning of a brand--the full mix of benefits upon which it is positioned.
Supporting users have an ad free experience!