Market Segmentation
Name a real-life example of psychographic segmentation.
Def. Psychographic segmentation: Psychographic segmentation divides buyers into different segments based on lifestyle or personality characteristics.
Examples:
Name the two types of marketing that belong to Micromarketing.
Micromarketing includes local marketing and individual marketing.
What is "Head-to-head positioning"?
Head-to-head positioning focuses on comparison. It involves directly competing with competitors on similar product attributes in the same market.
What are the four Methods of Market segmentation in a B2C market?
Geographic, Demographic, Behavioral and Psychographic segmentation.
What are the four Target Marketing strategies?
Undifferentiated Marketing
Differentiated Marketing
Concentrated Marketing
Micromarketing
This product positioning strategy involves highlighting attributes that directly compete with a market leader by focusing on differences such as price, features, or quality.
Differentiation positioning.
Explain the Pareto Principle.
80% of a company's revenue comes from the top 20% of repeat or loyal customers
Def. concentrated marketing:
A market-coverage strategy in which a firm goes after a large share of one or a few segments or niches.
Examples:
What does a company gain if it can differentiate and position itself as providing superior customer value?
competitive advantage.
Name the five essential factors for a company when choosing its Market Segmentation.
(Hint: ADAMS)
Accessible
Differentiable
Actionable
Measurable
Substantial
What is a "buyer persona"?
A buyer persona is a semi-fictional representation of an ideal customer that helps marketers understand and relate to the target market.
What are determinant attributes?
Determinant attributes are those attributes that a customer uses in making their purchase decision