Marketing CH. 9
What are the criteria used by marketers to evaluate whether a segment is worth pursuing or not?
-Identifiable -Substantial -Reachable -Responsive -Profitable
What are some key factors to keep in mind when marketers focus their assessments on the potential profitability of market segments, both currently and future.
-Market Growth -Market Competitiveness -Market Access
Firms position products based on what?
-Value Proposition -Salient Attributes -Symbols -Competition
What analytical tool is used to display, in two dimensions, the locations of products or brands in the consumer's mind?
A Perceptual Map
Another term for self-concept is _.
self-image
Grouping a market on the basis of how they use the product or service is known as _.
Behavioral Segmentation
Grouping a market on the basis of the outcomes they seek and derive from the products or service, such as clothing, appliances, toothpaste, or paper towels is known as _.
Benefit Segmentation
Market positioning is done so that the target customers have an understanding of the product offered by the company in comparison with _.
Competitors' Products
Grouping a market according to objective characteristics, such as age, gender, income, and education is known as _.
Demographic Segmentation
Psychographic is a segmentation method that delves into how consumers actually _ themselves
Describe
It is important to ensure that segments are distinct from one another because too much overlap between segments means that _.
Distinct marketing strategies are unnecessary to meet segment members' needs
Grouping a market by country, region, or areas within a region is known as _.
Geographic Segmentation
Having a variety of brands would allow someone to _.
Increase the market for its products
A very specific form of behavioral segmentation by which segments are formed based on use of the product or service for a special event or activity, rather than everyday activities, is known as _.
Occasion Segmentation
After evaluating each market segment's attractiveness, the next step in the STP process is _.
Step 4: Selecting a target market
Some _, such as the Nike swoosh, are so strong and well known they help position the brand.
Symbols
When everyone is considered a potential user of its product, a firm should use an _.
Undifferentiated (Mass) Targeting Strategy
The _ communicates the customers benefits to be received from a product or service.
Value Proposition