Term
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Definition
| people or organizations with needs or wants and the ability and willingness to buy |
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Term
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Definition
| a subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs |
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Term
| segmentation bases (variables) |
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Definition
| characteristics of individuals, groups, or organizations |
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Term
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Definition
| segmenting markets by region of a country or the world, market size, market density, or climate |
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Term
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Definition
| segmenting markets by age, gender, income, ethnic background . and family life cycle |
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Definition
| a series of stages determined by a combination of age, martial status, and the presence or absence of children |
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Term
| psychographic segmentation |
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Definition
| market segmentation on the basis of personality, motive, lifestyles, and geodemographic. |
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Term
| geodemographic segmentation |
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Definition
| segmenting potential customers into neighborhood lifestyles categories. |
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Term
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Definition
| the process of grouping customers into market segments according to the benefits they seek form the product. |
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Term
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Definition
| dividing a market by the amount of product bought or consumed |
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Term
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Definition
| a principle holding that 20 percent of all customers generate 80 percent of the demand |
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Term
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Definition
| business customers who place an order with the first familiar supplier to satisfy product and delivery requirements |
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Term
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Definition
| business customers who consider numerous suppliers, both familiar and unfamiliar, solicit bids, and study all proposals carefully before selecting one |
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Term
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Definition
| a group of people or org. for which an org. designs, implements, and maintains a marketing mix intended to meet the needs of that group, resulting in mutually satisfying exchanges |
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Term
| undifferentiated targeting strategy |
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Definition
| a marketing approach that views the market as one big market with no individual segments and this uses a single marketing mix |
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Term
| concentrated targeting strategy |
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Definition
| a strategy used to select on segment of a market for targeting marketing efforts |
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Term
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Definition
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Term
| multisegment targeting strategy |
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Definition
| a strategy that chooses two or more well defined market segments and develops a distinct marketing mix for each |
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Term
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Definition
| a situation that occurs when sales of a new product cut into sales of a firms existing products |
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Term
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Definition
| an individualized marketing method that utilizes customer info. to build long-term, personalized, and profitable relationships with each customer |
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Term
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Definition
| developing a specific marketing mix to influence potential customers overall perception of a brand, product line, or org. in general |
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Term
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Definition
| the place a product, brand, or group of products occupies in consumers minds relative to competing offerings |
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Term
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Definition
| a positioning strategy that some firms use to distinguish their products from those of competitors |
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Term
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Definition
| a means of displaying or graphing, in two or more dimensions, the location of products, brands, or groups of products in customer minds |
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Term
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Definition
| changing consumers perception of a brand in relation to competing brands |
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