Types of marketing
Why Segment?
Requirements for effective segmentation
Selecting market segments
Product Positioning
100
What is mass marketing?
The seller mass produces, mass distributes, and mas promotes one product to all buyers.
100
What is the first reason to segment?
Ties the operation and all its marketing activities to some recognizable groups of consumers
100
What are the four requirements for effective segmentation?
Measurable, accessible, substantial, and actionable
100
What are the four types of segmenting?
Undifferentiated, differentiated, concentrated, and bifurcated
100
What is a Products position?
The way the product is defined by consumers on important attributes.
200
What is Product variety marketing?
The seller produces two or more products/services that have different features, style, quality, and size.
200
What is the second reason to segment?
It is aimed at specific consumer groups.
200
What does measurable mean?
size, purchasing power, and profiles of segments can be measured.
200
What is undifferentiated marketing?
A company ignores market segmentation differences and goes after the entire market with one market offer.
200
What are the 3 steps to choosing and implementing a positioning strategy?
Identify competitive advantages, Select the right competitive advantage, and communicate and deliver the chosen position to a selected target market.
300
What is Target marketing?
The seller identifies market segments, select one or more, and develops products and services tailored to each selected segment.
300
What is the third reason to segment?
Allows the selection of consumer groups that offer the best profit potential.
300
What does accessible mean?
Segments can be effectively reached and served.
300
What is differentiated segmentation?
A company targets several market segments and designs separate offers for each
300
What is underpositioning?
Failing to ever position the company at all.
400
What is micro and customized marketing?
serves as a tactic to reach multi market segments.
400
What is the fourth reason to segment?
It may reveal an unserved or underserved segment.
400
What does substantial mean?
Segments are large and profitable enough to serve
400
What is Concentrated segmentation?
A company pursues a large share of one or a few small markets.
400
What is over positioning?
Giving buyers too narrow of a picture of the company
500
Name the four types of marketing
Mass marketing, Product variety marketing, target marketing, and micro & customized marketing.
500
What are the three steps in market segmentation?
Market segmentation, market targeting, and market positioning
500
What does actionable mean?
Effective programs can be designed to attract and serve the segments
500
What is bifurcated segmentation?
They are usually in undeveloped countries. The available guest mix is either high end or low end, there is no mid level. *Think parts of Africa*
500
What is confused positioning?
Leaving buyers with a confused image of the company
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