Term
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Definition
| A component of attitude that comprises the actions a person takes with regard to the issue at hand. |
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Term
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Definition
| The grouping of consumers on the basis of the benefits they derive from products or services |
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Term
| concentrated targeting strategy |
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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 |
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Definition
| The grouping of consumers according to easily measured, objective characteristics such as age, gender, income, and education. |
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Term
| differentiated targeting strategy |
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Definition
| A strategy through which a firm targets several market segments with a different offering for each. |
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Term
| geodemographic segmentation |
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Definition
| The grouping of consumers on the basis of a combination of geographic, demographic and lifestyle characteristics |
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Definition
| the position at which a particular market segment's ideal product would lie on a perceptual map. |
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Definition
| A component of psychographics. Refers to the way a person lives his or her life to achieve goals. |
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Term
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Definition
| Strategy of investing in loyalty initiatives to retain the firm's most profitable customers |
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Term
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Definition
| An extreme form of segmentation that tailors a product or service to suit an individual customer's wants or needs |
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Term
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Definition
| Displays, in two or more dimensions, the position or products or brands in the consumer's mind. |
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Term
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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. |
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Term
| psychographic segmentation |
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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. |
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Term
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Definition
| The image a person has of him or herself |
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Term
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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. |
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Term
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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. |
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Term
| Value and Lifestyle Survey |
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Definition
| Classifies consumers into eight segments: Innovators, thinkers, believers, achievers, strivers, experiences, makers, and survivors. |
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Term
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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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