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Flashcards in Segmentation (3) Deck (18)
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1

Marketing segmentation is...

dividing the larger market into smaller segments based on meaningfully shared characteristics or needs

2

The essence of segmentation is to _____ the population to market more effectively

divide

3

Why is it important to divide the market?

Everyone in the population isn’t the same, and everyone doesn’t have the same needs.

4

Segmenting the market allows a marketer to...

- to focus on those segments that most need the product.

- to adjust the marketing mix of a product to provide more value to a segment.

- market efficiently and thereby increase ROI

5

Effective segmentation can bring more ____ to the customer, and, in turn, more customer ______ and long-term _______ for the company.

value, satisfaction, profitability

6

Geographic location segmentation is simply dividing up the market according by consumer ______.

location

7

a demographic is...

a vital or societal statistic of a human population

8

Common ways to segment with demographics are...

- age
- gender
- ethnicity
- Income
- Marital status
- Number of children
- occupation

9

Common ways to segment with geography are...

- Country
- City / Rural
- Zip Code
- Population Density
- Region within the Country
- Mountains, Desert, Tundra

10

Examples of effective geographic segmentation are...

- target stores, for example, have a different mix of products for different regions. In the south, the stores sell more lightweight clothing items and flip flops.

- marketer who sells ski equipment, for example, can divide the market to focus on areas with, say, a mountainous terrain near ski resorts.

- Or, a small, local grocery store might only want to market to those consumers in the surrounding neighborhoods.

11

Psychographic segmentation involves segmenting the market by consumer _____, ______, _____, and ______.

- activities
- values
- interests
- opinions/beliefs

12

For psychographic information, marketers often need to ask customers about their _____, _____, or _____, which isn’t quite as clear cut as asking about customers’ ages or incomes.

- beliefs, values, attitudes

13

Demographic data is usually ______, and data from sources such as the US Census Bureau make a wealth of demographic information readily available.

objective

14

Common ways to segment with psychographic data are...

- Values
- Beliefs
- Attitudes
- Feelings
- Personality
- Lifestyle
- Activities and Interests
Religious and Political Beliefs and Affiliations

15

why is psychographic information to know?

it can serve as a strong driving force behind some product purchases.

16

Segmenting the market by _____ ______ means that the population is divided based on how much they use (usage rate) or how they use (usage situation) a product.

usage behavior

17

What is usage rate?

how much a consumer uses a product

18

What is usage situation?

how a consumer uses a product