Divide + Conquer
This term refers to the general division of one market into smaller, more specific groups.
What is market segmentation?
If a person has a want, and money to fulfill that want, they are part of this.
What is a market?
A company's advertising is designed to appeal to everyone, rather than a specific customer group. This is the strategy being used.
What is undifferentiated or mass marketing?
A company targets people who spend their free time hiking, camping, and exploring national parks. The company is using this to identify customers.
What is lifestyle?
A concert promoter identifies people who attend concerts frequently and offers them a special ticket promotion based on their previous purchasing behavior.
What is behavioral segmentation?
Two students are the same age and live in the same city, but one loves gaming while the other spends every weekend at concerts. This type of segmentation could help a marketer distinguish them.
What is psychographic segmentation?
A marketer places multiple people into different groups based on their different characteristics. This is one of those groups.
What is a market segment?
A company creates separate advertisements for runners, basketball players, and casual sneaker wearers. This is the strategy being used.
What is segment marketing?
A brand targets customers who describe themselves as creative, independent, and unconventional. This characteristic is being focused on.
What is personality?
A fast-food company has identified families, college students, and teenagers as three different groups within the larger population of potential customers. This is the term to describe each group.
What are market segments?
A fast-food chain creates different advertising campaigns for customers in Texas, California, and New York based on regional preferences. This is the type of segmentation being used.
What is geographic segmentation?
A new energy drink could potentially be purchased by millions of people, but the company decides to focus specifically on high school and college athletes. This is how a marketer would refer to the group of athletes.
What is a target market?
A business decides to focus its advertising on gamers after researching several different customer groups. The business is using this strategy.
What is target marketing?
Two students both want the newest gaming console. One has money saved from a part-time job, while the other has a much smaller budget. A marketer might consider this when deciding how to market to both groups.
What is socioeconomic status?
A student buys a new pair of headphones to use while listening to music at work. This is their market.
What is consumer market?
A concert promoter sends a discount to people who attended three previous concerts but not to people who have never purchased a ticket. This is the type of segmentation being used.
What is behavioral segmentation?
A student buys a backpack in anticipation of the upcoming school year. This is the type of market the student is in.
What is a consumer market?
A restaurant's commercial simply says, “Everybody deserves a great burger!” This is the strategy being used.
What is undifferentiated or mass marketing?
A clothing company targets people who regularly follow fashion trends, shop for new clothes, and care about their outfits. This is what is being considered.
What is lifestyle?
A luxury car company researches customers' most common occupations before deciding which customers are most likely to afford its vehicles. This is what is being considered.
What is socioeconomic status?
An American shoe company creates an ad specifically for people who have immigrated to the United States. This is the type of segmentation being used.
What is demographic segmentation?
A school buys basketballs to use during physical education classes. This is the type of market the school is in.
What is an industrial market?
This is the main difference between segment and target marketing.
What is vs. classifying customers into markets (segment) vs selecting which markets to advertise to (target)?
A student is shy, quiet, and prefers to avoid being the center of attention. A company creates an ad specifically for people with these characteristics. This is being used to determine their segment.
What is personality?
A clothing company notices that people who purchase its products tend to be outgoing, fashion-conscious, and interested in expressing themselves through their clothing. This is the best way for the company to understand thir customers.
What is psychographic segmentation?