Marketing 340 Exam 2 Pereira Iowa State University – Flashcards
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product position
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the place the product occupies in consumers' minds relative to competing products
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differences worth promoting
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important, distinctive, superior, communicable, preemptive, affordable, profitable
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positioning statement
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To (target segment and need) our (brand) is (concept) that (point of difference)
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market segmentation
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Identification of a group of consumers that share at least one characteristic that will likely increase their responsiveness to our marketing efforts
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geographic segmentation
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Customers have different needs/wants/demands based on where they live
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demographic segmentation
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Age and life-cycle
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psychographic segmentation
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Social class, lifestyle and personality
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behavioral segmentation
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occasions, benefits sought, user status, usage rate, loyalty status
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undifferentiated marketing
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mass marketing
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differentiated marketing
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segmented marketing
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concentrated marketing
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niche marketing
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micromarketing
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local or individual marketing
