Segmentation
What is the process of dividing a market into smaller groups of customers with similar needs or characteristics?
What is market segmentation?
After segmentation, the next step in the STP process is selecting which market segments to serve.
What is targeting?
Positioning refers to how a brand is perceived in the minds of these people.
Who are customers/consumers?
This mascot asks, "Can you hear me now?"
Who is the Verizon Guy?
A gym creates a workout plan specifically for retirees.
What is targeting?
This type of segmentation groups customers based on age, income, gender, education, or occupation.
What is demographic segmentation?
A company that markets one product to one market segment is using this targeting strategy.
What is concentrated (niche) targeting?
This tool visually maps brands based on customer perceptions of key attributes.
What is a perceptual map?
This superhero's alter ego is Peter Parker.
Who is Spider-Man?
Netflix recommends shows based on viewing history.
What is behavioral segmentation?
This segmentation method groups customers based on geographic location such as countries, states, or cities.
What is geographic segmentation?
This targeting strategy focuses on serving the entire market with one offer.
What is undifferentiated targeting?
Volvo has traditionally positioned itself around this key attribute.
What is safety?
The unicorn is the national animal of this country.
What is Scotland?
Tesla promotes itself as an innovative, premium electric vehicle brand.
What is positioning?
This type of segmentation focuses on customers' lifestyles, personalities, interests, and values.
What is psychographic segmentation?
Coca-Cola offering different products to different market segments is an example of this targeting strategy.
What is differentiated targeting?
The statement that explains how a product differs from competitors and why customers should choose it is called this.
What is a positioning statement?
A group of flamingos is called this.
What is a flamboyance?
A company groups customers by age, income, and education.
What is demographic segmentation?
This type of segmentation groups customers according to their purchasing behavior, usage rates, or brand loyalty.
What is behavioral segmentation?
Before choosing a target market, marketers should evaluate segment size, growth potential, profitability, and this important factor.
What is fit with company objectives and resources?
Positioning based on "best value for the money" is an example of positioning by this factor.
What is price/value?
A snail can sleep for up to this many years.
What is 3 years?
A coffee shop identifies students, chooses them as the primary market, and advertises itself as the most convenient study location.
What are segmentation, targeting, and positioning?