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UWL MKT 309
Chapter 8
18
Marketing
Undergraduate 3
02/10/2013

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Term
behavioral segmentation
Definition
A component of attitude that comprises the actions a person takes with regard to the issue at hand.
Term
Benefit segmentation
Definition
The grouping of consumers on the basis of the benefits they derive from products or services
Term
concentrated targeting strategy
Definition
A marketing strategy of selecting a single, primary target market and focusing all energies on providing a product to fit that market's needs
Term
demographic segmentation
Definition
The grouping of consumers according to easily measured, objective characteristics such as age, gender, income, and education.
Term
differentiated targeting strategy
Definition
A strategy through which a firm targets several market segments with a different offering for each.
Term
geodemographic segmentation
Definition
The grouping of consumers on the basis of a combination of geographic, demographic and lifestyle characteristics
Term
ideal point
Definition
the position at which a particular market segment's ideal product would lie on a perceptual map.
Term
lifestyles
Definition
A component of psychographics. Refers to the way a person lives his or her life to achieve goals.
Term
loyalty segmentation
Definition
Strategy of investing in loyalty initiatives to retain the firm's most profitable customers
Term
one-to-one marketing
Definition
An extreme form of segmentation that tailors a product or service to suit an individual customer's wants or needs
Term
perceptual map
Definition
Displays, in two or more dimensions, the position or products or brands in the consumer's mind.
Term
psychographics
Definition
Used in segmentation. Delves into how consumers describe themselves. allows people to describe themselves using those characteristics that help them choose how they occupy their time and what underlying psychological reason determine those choices.
Term
psychographic segmentation
Definition
A method of segmenting customers based on how they spend their time and money, what activities they pursue, and their attitudes and opinions about the world in which they live.
Term
self-concecpt
Definition
The image a person has of him or herself
Term
self-values
Definition
Goals for life, not just the goals one wants to accomplish in a day. Refers to overriding desires that drive how a person lives his or her life.
Term
mass marketing
Definition
A marketing strategy a firm can use if the product or service is perceived to provide the same benefits to everyone, with no need to develop separate strategies for different groups.
Term
Value and Lifestyle Survey
Definition
Classifies consumers into eight segments: Innovators, thinkers, believers, achievers, strivers, experiences, makers, and survivors.
Term
Value Propostion
Definition
The unique value that a product or service provides to its customers and how it is better than and different from those of competitors.
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