This strategy treats the entire market as one large group with common needs, offering a single product with a single marketing plan.
Undifferentiated (or Mass) Marketing
This strategy involves going after a large share of one or a few small, highly defined sub-markets rather than a small share of a large market.
Concentrated (or Niche) Marketing
A perceptual map typically uses this many axes to plot customer perceptions of products relative to competitors.
Two (2) axes
Product ____ refers to the place a brand occupies in consumers' minds relative to competing offerings.
Positioning
In the foundational marketing framework abbreviated as STP, the three letters stand for Segmentation, ____, and Positioning.
Targeting
This approach divides a market into several distinct market segments and designs separate marketing offers for each segment.
Differentiated (or Segmented) Marketing
Tailoring products and marketing programs to suit the tastes of specific individuals or local customer locations is known as this strategy.
Micromarketing
Rather than displaying objective technical features, a perceptual map evaluates brands based on the perceptions of this specific group.
Consumers (or Target Customers)
When a brand shifts its established market image to adapt to falling sales or changing consumer tastes, it undergoes this process.
Repositioning
Order these 4 targeting strategies from broadest focus to narrowest scope: Micro, Undifferentiated, Concentrated, Differentiated.
Undifferentiated, Differentiated, Concentrated, Micro
A major drawback of this strategy is that high production, promotion, and administrative costs come from creating multiple marketing campaigns for different groups.
Differentiated (or Segmented) Marketing
Micromarketing is generally broken down into two main sub-categories: local marketing and this type of marketing that treats each customer as a market of one.
Individual Marketing (or One-to-One Marketing)
On a perceptual map analyzing fast-food restaurants, two standard attribute dimensions plotted on the axes are Price and this key customer priority.
Quality (or Healthiness / Speed of Service)
A concise expression that outlines why a target customer should buy a specific product over competing alternatives is known as a positioning ____.
Statement
A company operating with severely limited capital and resources is most likely to select this focused targeting strategy.
Concentrated (or Niche) Marketing
Henry Ford’s famous quote, "You can have any color as long as it's black," is a classic historical example of this targeting strategy.
Undifferentiated (or Mass) Marketing
While concentrated marketing allows companies to market efficiently and gain high customer loyalty, it carries this major strategic risk if customer needs suddenly change or larger competitors enter.
High Financial Risk
An unoccupied territory on a perceptual map where no brands currently sit, signaling an unserved market opportunity, is called this.
White Space (or Gap in the Market)
A brand positioning itself as offering equal quality to market leaders but at a noticeably lower price point uses this specific value proposition.
"Same for Less" (or More for Less) value proposition
Targeting vulnerable populations—such as children or seniors—with harmful or misleading products creates ethical challenges in this step of the STP framework.
Targeting
When companies practice differentiated marketing, they risk over-segmenting, which can lead to this phenomenon where one of a company's products steals sales from another of its own products.
Cannibalization
Nike letting customers design their own custom shoes online using "Nike By You" is a primary real-world example of this specific form of micromarketing.
Mass Customization (or Individual Marketing)
Market researchers rely on this primary data collection method to gather quantitative customer ratings needed to construct a perceptual map.
Customer Surveys (or Questionnaires)
In a formal positioning statement, this element explicitly defines what makes the brand unique compared to competitors in its category.
Point of Difference (or Unique Value Proposition)
When two rival brands sit directly adjacent to each other on a perceptual map, they are engaged in this specific type of market rivalry.
Head-to-Head Competition