MARKETING-CH 15-KOTLER&TRIAS LATERAL MARKETING STRATEGY – Flashcards
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Target marketing includes the three interrelated activities of:
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market segmentation, targeting, and product positioning
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The process of dividing a market into groups (segments) of individuals who share common characteristics.
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market segmentation
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______typically effected by drilling down into markets, bypassing layers that are deemed undesirable until desirable layers of associated markets have been identified; appealing segmets are then targeted.
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market segmentation
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The drill-down orientation of market segmentation.
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vertical segmentation
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A viable method for segmenting markets; the practice of drilling down into markets helps reduce missed opportunities.
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vertical segmentation
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To assist marketers in segmentation results by identifying missed opportunities. This segmentation termed by Philip Kotler and Fernando Trias de Bes
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Lateral Marketing Strategy
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Developed by Philip Kotler and Fernando Trias de Bes to encourage marketers to look broadly at their markets in an attempt to identify opportunities to serve customer groups that have previously been overlooked, courtesy of the drill-down orientation of vertical marketing.
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Lateral Marketing Strategy
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Requires healthcare marketers carefully examine their served market segments and the products that are used to address those segments.
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Lateral Marketing Strategy
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Healthcare marketers must endeavor to determine what market segment opportunities have been overlooked or bypassed over the course of serving current customer populations.
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Lateral Marketing Strategy
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Lateral Marketing Strategy is not a substitute for vertical segmentation, but a complementary technique that increases the potential for the identification of productive market segments.
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True
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Developed by Kotler and Trias in an attempt to identify opportunities to serve customer groups that have previously been overlooked, courtesy of the drill-down orientation of vertical marketing.
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lateral segmentation
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Technique benefits marketers through the identification of valuable segments to pursue; benefits customers whose wants and needs might go unnoticed.
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Lateral Marketing Strategy
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Seeks to identify new markets for given product offerings; termed as a reference to open, clear blue water in the ocean.
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Blue Ocean Strategy
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Red Ocean Strategy seeks to battle competition within known markets, _______ seeks to pursue uncontested markets; avoiding direct competition.
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Blue Ocean Strategy
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Exploits existing demand by engaging in the market share battles within known markets
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Red Ocean Strategy
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Involves the pursuit and capture of new demand by opening up new, previously untapped markets.
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Blue Ocean Strategy
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Accomplished by embedding enhanced customer-desired features into product offerings, while simultaneously reducing or eliminating elements that are not important to customers.
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value innovation
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Essentially provides customer with more for less.
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Value innovation
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Seeks to simultaneously pursue differentiation and low cost; an approach for identifying and pursuing pathways to growth and prosperity
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Blue Ocean Strategy
