Term
| target-market selection process |
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Definition
choose targeting strategy
segmentation variables
develop market segment profiles
evaluate relevant market segments
select specific target markets |
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Term
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Definition
undifferentiated - single mktg mix (1 prdct), target everyone; requires homogeneous mkt
concentrated - single mktg mix (1 prdct), target 1 segment
differentiated - multiple mktg mix (mult prdcts), multiple segments |
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Term
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Definition
demographic - age, gender, race, etc
geographic - region, urban, climate, etc
psychographic - motives, lifestyles, personality
behavioristic - volume usage, end use, brand loyalty, price sensitivity, occasions, benefits
behavioristic |
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Term
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Definition
| focusing precise mktg efforts on very small geodemographic mkts |
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Term
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Definition
| division of a mkt according to benefits that consumers want from the product |
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Term
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Definition
| total amount of product, for all firms in industry, that customers will purchase within a time period at a specified level of industrywide marketing activity |
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Term
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Definition
| maximum percentage of market potential that one firm can expect from a specific product |
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Term
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Definition
| measuring company sales potential based on a general economic forecast and the market potential derived from it |
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Term
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Definition
| experts create initial forecasts, submit them to the company for averaging, and have results returned to them for individual refined forecasts |
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Term
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Definition
trend analysis
cycle "
seasonal "
random
fator " |
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Term
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Definition
| make a product available in small area to test |
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