Marketing Chapter 7
Perceptual Map
A diagrammatic technique used by asset marketers that attempts to visually display the perceptions of customers or potential customers.
Usage Rate
A measurement that reflects the quantity purchase or frequency of use among consumers of a particular product or service.
Positioning
A strategy that influences how a particular market segment perceives a good or service in comparison with the competition.
Mass Customization
An approach that modifies a basic good or service to meet the needs of an individual.
1st
Analyzing competitor's positions is the ___ stage in a positioning decision.
Segmentation Variables
Dimensions that divide the total market into fairly homogenous groups, each with different needs and preferences.
Generation X
Generation of consumers that often have a cynical attitude toward marketing.
3rd
Positioning is the ____ Step in the Target Marketing Process.
1st
Segmentation is the ____ Step in the Target Marketing Process.
Demographics
Statistics that measure observable aspects of a population, including size, age, gender, ethnic group, income, education, occupation, and family structure.
Differentiated Strategy
Strategy that develops one or more products for each of several distinct customer groups and makes sure these offerings are kept separate in the marketplace.
Target Marketing
Strategy that divides the total market into different segments on the basis of customer characteristics, selecting one or more segments and developing products to meet the needs of those specific segments.
Concentrated Targeting Strategy
Strategy that focuses on a firm's efforts on offering one or more products to a single segment.
Market Fragmentation
The creation of many consumer groups due to a diversity of distinct needs and wants in modern society
Brand Personality
The development of an identity for the product market that the target market will prefer over those competing brands.
Targeting
The name for a strategy in which marketers evaluate the attractiveness of each potential segment and decide in which of these groups they will invest resources to turn them into consumers.
Segmentation
The process of dividing a larger market into smaller pieces based on one or more meaningfully shared characteristics.
Content Marketing
The strategy of establishing thought leadership in the form of bylines, blogs, commenting opportunities, videos, sharable social images, and infographics.
Psychographics
The use of psychological, sociological, and anthropological factors to construct market segments.