SEGMENTATION:
DIVIDED WE BRAND
DIVIDED WE BRAND
What is geographic segmentation.
When targeting a market segment, what is the ultimate goal of management in selecting a segment?
What is the opportunity to maximize sales.
When considering "positioning" of a product/service, organizations are out to influence what about it?
The customer's perception of the product/service.
Any specific combination of goods, services, OR IDEAS offered by a firm is known as this?
What is a product.
What is cannibalization.
Psychographic segmentation sets out to answer this key question regarding customer purchases?
What is the reason "why" customers buy a good/service.
What are the 3 factors that go into selecting a target market?
What is the first step of any work around market "positioning?"
What is fully analyze competitors current "positions" in the market place.
The aspect of the product associated with the services, experiences, warranties, etc. is known as this.
What is the augmented product.
These are the two most commonly used demographic segmenting variables.
What are age and gender.
What is the most widely used psychographic segmenting tool used by businesses today?
What is the VALS framework (Values and Lifestyle Framework).
What type of targeting involves "targeting a large share of a small market segment?"
What is niche targeting.
This valuable tool allows firms to understand competitor's positions, relative to their own, and where everyone stands in the minds of consumers.
What is a perceptual map.
This classification of products is characterized by high customer involvement, purchased infrequently, and high expense.
What are specialty products.
What are private label brands or store brands.
This base of segmentation is focused on repeated actions of customers.
When a firm views the entire market as "one large segment" and does not differentiate in its marketing mix, this is known as what type of targeting strategy?
What is undifferentiated targeting.
What are the ways in which a firm can "highlight" competitive advantages with regards to positioning?
What is highlighting a) price/quality relationship, b) attributes of the product/service and c) applications of the good/service.
This term refers to the total number of different product lines a firm offers to the public.
What is the product mix breadth.
These are the 2 main strategic considerations with regards to packaging of a product by a firm.
What are 1) promoting brand image and 2) reinforcing brand image.
When segmenting a market, there are five necessary traits of the segmenting characteristic to be effective. What are they?
What is substantial, measurable, differentiable, accessible, and actionable.
The group of customers toward which an organization has to decided to direct its marketing efforts is known as what?
What is the target market.
A firm attempting to change or establish perception about a competitor's product/service rather than change their own position in the market place is engaged in what?
What is reverse repositioning.
The value a firm derives from customer's positive perception of its products is known by this name.
What is brand equity.
How we desire others to "see" us based on our actions is referred to by this term.
What is self concept.