Marketing Ch. 10

Segmentation Base

A group of characteristics that is used to assign segment members.

Behavioral Segmentation

Allocates consumers into groups based on their uses or responses to a product or service.

Unique Selling Proposition (USP)

An expression of the uniqueness of a brand.

Psychographic Segmentation

Assigns buyers into different groups, based on lifestyle, class, or personality charteristics.

Symbolic Positioning

Based on characteristics of the brand that enhance the self-esteem of customers.

Experiential Positioning

Based on characteristics of the brands that stimulate sensory or emotional connections with customers.

Functional Positioning

Based on the attributes of products or services and their corresponding benefits and is intended to communicate how customers can solve problems or fulfill needs.

Perceptual Map

Defines the market, based on consumer perceptions of attributes of competing products.

Family Life Cycle Segmentation

Divides consumers into groups based on specific shared life events such as graduation, marraige, and having a child.

Demographic Segmentation

Divides the market into groups, based on variables such as age, gender, family size, family life cycle, income occupation, education, religion, ethnicity, generation, nationality, and sexual orientation.

Differentiated Marketing

Separates and targets several different market segments with a different product or service geared to each segment.

Niche Marketing

Serving a small but well-defined consumer segment.

Segmentation

Taking the entire market and breaking it down into smaller groups that share similar characterisitics.

Market Segmentation

The division of consumer markets into meaningful and distinct groups.

Positioning

The placement of a product or service offering in the minds of consumer targets.

Targeting

The process of evaluating and selecting the most viable market segment to enter.

Undifferentiated Marketing

When a company treats the market as a whole, focusing on what is common to the needs of customers rather than on what is different.