Chapter 8 – Marketing Segmentation, Targeting, and Positioning – Flashcards
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Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is referred to as:
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market segmentation.
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Market segments refer to:
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the relatively homogeneous groups of prospective buyers that result from the market segmentation process.
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A relatively homogenous group of prospective buyers that results from the market segmenation process is referred to as a(n)_____.
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market segment.
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Product differentiation refers to:
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a marketing strategy that involves a firm using different marketing mix actions to help consumers perceive the product as being different and better than competing firms.
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A framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization is referred to as ______.
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market-product grid.
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A market-product grid is a framework to relate:
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the market segments of potential buyers to products offered or potential marketing actions by an organization.
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A market-product grid is a framework to relate the _____ to products offered or potential marketing actions by an organization.
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market segments of potential buyers.
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Tailoring products or services to the tastes of individual customers on a high-volume scale is referred to as:
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mass customization.
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Manufacturing a product only when there is an order from a customer is referred to as:
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build-to-order.
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The increased customer value achieved through performing organizational functions like marketing or manufacturing more efficiently is referred to as______.
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organizational strategy.
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When a new product or a new retail chain steals customers and sales from older existing ones of an organization, it is referred to as:
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cannibalization.
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Variables that are based on some objective physical, measurable, or other classification attribute of prospective customers are used in which segmentation base?
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demographic.
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The quantity consumed or patronage (store visits) during a specific period is referred to:
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usage rate.
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The market segmentation strategy known as frequency marketing focuses on:
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usage rate
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A market-product grid is a framework to relate the ______ to products offered or potential marketing actions.
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market segments of potential buyers.
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Product positioning refers to:
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the place a product offering occupies in consumers' minds on important attributes.
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Positioning that involves competing directly with competitors on similar product attributes in the same target market is referred to as:
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head-to-head positioning.
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A means of displaying or graphing in two dimensions the location of prodcuts or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands, as well as its own product or brand, is referred to as:
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a perceptual map.
