Term
|
Definition
| Dividing a market into smaller segments with distinct needs, characteristics, or behavior that might require separate marketing strategies or mixes. |
|
|
Term
|
Definition
| The process of evaluating each market segments attractiveness and selecting one or more segments to enter |
|
|
Term
|
Definition
| Differentiating the market offering to create superior customer value. |
|
|
Term
|
Definition
| Arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. |
|
|
Term
|
Definition
| Dividing a market into different geographical units, such as nations, states, regions, counties, cities, or even neighborhoods. |
|
|
Term
|
Definition
| Dividing the market into segments based on variables such as age, gender, family size, family life cycle, income, occupation, education, religion, race, generation, and nationality. |
|
|
Term
| Age and life-cycle segmentation |
|
Definition
| Dividing a market into different age and life-cycle groups. |
|
|
Term
|
Definition
| Dividing a market into different segments based on gender. |
|
|
Term
| Psychographic segmentation |
|
Definition
| Dividing a market into different segments based on social class, lifestyle, or personality characteristics. |
|
|
Term
|
Definition
| Dividing the market into segments according to occasions when buyers get the idea to buy, actually make their purchases or use the purchased item. |
|
|
Term
|
Definition
| Dividing the market into segments according to occasions when buyers get the idea to buy, actually make their purchases or use the purchased item. |
|
|
Term
|
Definition
| Dividing the market into segments according to the different benefits that consumers seek from the product. |
|
|
Term
|
Definition
| forming segments of consumers who have similar needs and buying behavior even though they are located in different countries |
|
|
Term
|
Definition
| A set of buyers sharing common needs or characteristics that the company decides to serve. |
|
|
Term
| Undifferentiated (mass) marketing |
|
Definition
| A market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer. |
|
|
Term
| Differentiated (segmented) marketing |
|
Definition
| A market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each. |
|
|
Term
| Concentrated (niche) marketing |
|
Definition
| A market-coverage strategy in which a firm goes after a large share of one or a few segments or niches. |
|
|
Term
|
Definition
| tailoring products and marketing programs to the needs and wants of specific individuals and local customer segments; it includes local marketing and individual marketing. |
|
|
Term
|
Definition
| Tailoring brands and promotions to the needs and wants of local customer segments- cities, neighborhoods, and even specific stores. |
|
|
Term
|
Definition
| Tailoring products and marketing programs to the needs and preferences of individual customers. |
|
|
Term
|
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
|
Definition
| An advantage over competitors gained by offering greater customer value, either by having lower prices or providing more benefits that justify higher prices. |
|
|
Term
|
Definition
| The full positioning of a brand - the full mix of benefits on which it is positioned. |
|
|
Term
|
Definition
| A statement that summarizes company or brand positioning. |
|
|
Term
|
Definition
| Dividing a market into different income segments |
|
|
