Marketing Ch. 10 Flashcards Preview

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Flashcards in Marketing Ch. 10 Deck (21)
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1
Q

Market segmentation

A

Is the division of consumer markets into meaningful and distinct groups.

  • only one type of market
  • distribution will be easier
2
Q

Needs Segmentation pg. 136

A

assigns consumers into groups based on their current and desired level of interaction with a particular market category

3
Q

Behavioral Segmentation pg. 134

A

allocates consumers into groups, based on their current and design level of interaction with a particular market category.
-buyers can be grouped according to occasions/ life events.
-loyalty, usage-rate, knowledge, product use
(answers when)

4
Q

Targeting

A

the process of evaluating and selecting the most viable market segment to enter.

  • ability to meet requirements of the customers
  • overall cost to meet customer requirements
  • potential profitability of serving different customer groups
5
Q

undifferentiated

A

company treats the whole company as a whole, focusing on what is common to the needs of customers rather than on what is different
(12, red, black &blue)

6
Q

differentiated marketing

A

Separates and targets several different market segments with a different product or service geared to each segment.
(6 red)

7
Q

Niche Marketing

A

serving a small but well-defined consumer segment (4 blue)

8
Q

micro marketing

A

organizations focus precise marketing efforts on very small geographic markets
(one purple)

9
Q

Positioning

A

is the placement of a product or service offering in the minds of a selected target market.
-changing how others see you today, point of differ

10
Q

unique selling proposition

A

An expression of the uniqueness of a brand.

why should they buy from me?

11
Q

experimental positioning

A

based on characteristics of the brands that stimulate sensory or emotional connections with customers
(emotions)

12
Q

Your new employer has asked you, as a new marketing graduate, to identify a group of potential customers who might respond in a similar way to a given set of marketing efforts. You have been asked to identify a(n) _____.

A

market segment

13
Q

The _____ is a group of characteristics that is used to assign segment members.

A

segmentation base

14
Q

Demographic segmentation is so frequently used in market segmentation because it _____.

A

involves the easiest information to obtain

15
Q

The division of buyers into groups based on lifestyle, class, or personality characteristics is ____ segmentation.

A

psychographic

16
Q

The division of buyers into groups based on their knowledge, attitudes, uses, or responses to a product is ___ segmentation.

A

behavioral

17
Q

the division of buys into groups based on their current and desired level of interaction with a particular market category is ____ segmentation.

A

needs

18
Q

The business segmentation variable of ____ refers to customer desires such as service support, cutting- edge technology, or financing terms.

A

benefits sought

19
Q

Which of the following is the process of evaluating and selecting the most viable market segment to enter?

A

targeting

20
Q

_____ occurs when a business first identifies a market segment it wants to serve and then develops a product or service that is appropriate for that segment.

A

target marketing

21
Q

Which of the following is a relatively recent development that optimizes the online advertising

A

behavioral targeting