Segmentation
divides the market into different geographical units such as nations, regions, states, counties, cities, or even neighborhoods.
Geographic segmentation
is determining the distinctive place you want your product to occupy.
Positioning
good, service, or idea that is marketed to fill consumers’ needs and wants
Product
targets the whole market with one offer.
Undifferentiated marketing
divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.
Demographic segmentation
is an advantage over competitors gained by offering consumers greater value, either through lower prices or by providing more benefits that justify higher prices.
Competitive advantage
process of determining the best price at which to sell a product
Price
targets several different market segments and designs separate offers for each.
Differentiated marketing
divides a market into different segments based on social class, lifestyle, or personality characteristics.
Psychographic segmentation
is designing your product offering so that it has one or more unique qualities valued by the customer.
Differentiation
part of the marketing mix concerned with getting products from producers to consumers
Place
targets a large share of a smaller market.
Concentrated marketing
divides a market into segments based on consumer knowledge, attitudes, uses of a product, or responses to a product.
Behavioral segmentation
is any answer to the question of why should the customer buy your product.
value proposition
aspect of the marketing mix concerned with the most effective techniques for communicating information about products
Promotion
is the practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations.
Micromarketing