Ch 9 Study material

One on One Marketing

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loyalty segmentation

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micromarketing

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occasion segmentation

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self concept

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stretegy mass marketing

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undifferentiated targeting

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Value Proposition

A marketplace offering that fairly and accurately sums up the value that will be realized if the good or service is purchased. USER-CONTRIBUTED Making an offer that reflect's the best bang for the buck USER-CONTRIBUTED

perceptual map

A means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands and then take marketing actions USER-CONTRIBUTED A means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers USER-CONTRIBUTED A technique to visually describe where brands are "located" in consumers' minds relative to competing brands. USER-CONTRIBUTED

differentiated targeting strategy

A strategy in which an organization targets two or more segments by developing a marketing mix for each segment USER-CONTRIBUTED A strategy through which a firm targets several market segments with a different offering for each USER-CONTRIBUTED A strategy through which a firm targets several market segments with a different offering for each. USER-CONTRIBUTED a strategy in which an organization targets two or more segments by developing a marketing mix for each USER-CONTRIBUTED Developing one or more products for each of several distinct customer groups and making sure these offerings are kept separate in the marketplace. USER-CONTRIBUTED A strategy in which an organization targets two or more segments by developing a marketing mix for each segment. USER-CONTRIBUTED Identify the Appropriate Targeting Strategy USER-CONTRIBUTED heterogeneous market, targeting two or more segments with a marketing mix for each. USER-CONTRIBUTED A marketing approach that involves developing a different marketing mix for each target market segment. USER-CONTRIBUTED Helps target several market segments with a different offering for each. Ex: Conde Nast owns 20 different magazines for people who like fashion (GQ), food (bon appetit), etc. USER-CONTRIBUTED targeting two or more segments with a marketing mix for each USER-CONTRIBUTED (pg. 244) Target different markets with a different offer for each; Increases overall market share, diversifies products to keep overall default risk low. USER-CONTRIBUTED Advantage USER-CONTRIBUTED A strategy in which an organization targets two or more segments by developing a marketing mix for each segment? USER-CONTRIBUTED A strategy that chooses two or more well-defined market segments and develops a distinct marketing mix for each USER-CONTRIBUTED a strategy through which a firm targets several market segments with a different offering for each USER-CONTRIBUTED -Different offering for each market target USER-CONTRIBUTED

ideal point

the position at which a particular market segment's ideal product would lie on a perceptual map USER-CONTRIBUTED The position at which a particular market segment's ideal product would lie on a perceptual map. USER-CONTRIBU

geodemographic segmentation

uses a combination of geographic demographics lifestyle characteristics to classify the customer

value

what your morals are

concentrate targeting strategy

when an organization selects a single primary targe market and focuses all its energies on providing a product to fit that market needs

demographic segmentation

The division of a market on the basis of its physical and social characteristics. USER-CONTRIBUTED Dividing the market by age, income, and education level USER-CONTRIBUTED The division of a market on the basis of its physical and social characteristics USER-

benefit segmentation

The process of grouping customers into market segments according to the benefits they seek from the product USER-CONTRIBUTED Dividing the market by determining which benefits of the product to talk about. USER-CONTRIBUTED The grouping of consumers on the basis of the

cookies

are files on internet simplifies customer information which stores in a visitors browser provides unique identification of each potential customer who visits and how the customer searched for it

self values

are goals for your life

value and Lifestyle survey

psychographic tool, consumers are classified into 8 different categories (VALS) USER-CONTRIBUTED psychographic tool that classifies consumers into eight categories based on their answers to a questionnaire USER-CONTRIBUTED

psychographics

Data that describes a group of people in terms of their tastes, opinions, personality traits, and lifestyle habits. USER-CONTRIBUTED Characteristics of people according to their lifestyle values-interests , attitudes, and opinions. USER-CONTRIBUTED A segmentation of the consumer market, including personality, opinions, and lifestyle elements, including activities and interests. USER-CONTRIBUTED (pg. 233) Delves into how consumers actually describe themselves, how people self-select based on behavior and the psychological reason behind it. Excellent predictors but very expensive. USER-CONTRIBUTED A tool for sophisticated determination of market segmentation. USER-CONTRIBUTED Studies of consumers based on social and psychological characteristics USER-CONTRIBUTED A way to differentiate among people or groups by categorizing them according to their attitudes, personality types, or motivations USER-CONTRIBUTED Studies of consumers based on social and psychological characteristics such as attitudes, interests, and opinions USER-CONTRIBUTED Attitudes, values, activities, interests, demographics, media partners and usage rates; attempt to develop quantitive measures of lifestyle USER-CONTRIBUTED Attitudes, Values, Activities Interests and Opinions, Demographics, Media Patterns, Usage Rates USER-CONTRIBUTED Attempts to combine psychological, sociological, and anthropological factor USER-CONTRIBUTED Attitudes and Preferences; (more specific) Men 24-42. USER-CONTRIBUTED Factors that influence consumers patterns of living or lifestyle USER-CONTRIBUTED Analysis of consumer lifestyles to create a detailed customer profile. USER-CONTRIBUTED Description of consumption based on their psychological and behavioral characteristics USER-CONTRIBUTED Beliefs and feelings of consumers USER-CONTRIBUTED Audience's attitudes and beliefs, political leanings USER-CONTRIBUTED Audience researcher factors concerned with such data as consumer buying habits, values, and lifestyle USER-CONTRIBUTED A description of a market based on factors such as attitudes, opinions, interests, perceptions, personalities and lifestyles of consumers that comprise a market. (can study credit card usage, good life activities which include cultural/art events, outdoor activities, sports, etc.) USER-CONTRIBUTED -using personality and psychology to break down the target audienc USER-CONTRIBUTED -Psychological influence on consumer behavio USER-CONTRIBUTED The analysis of a person's day to day pattern of being as expressed in AIO's USER-CONTRIBUTED Audience analysis that goes deeper than demographics and includes attitudes, beliefs and behavior. USER-CONTRIBUTED A combination of demographics and measurements of psychological characteristics such as attitudes, opinions, and interests USER-CONTRIBUTED A research approach that attempts to categorize consumers according to their attitudes, beliefs, interests, and motivations. USER-CONTRIBUTED Activities, interests, opinions, values, attitudes USER-CONTRIBUTED Activities, Attitudes and Personality and Values. USER-CONTRIBUTED A term that advertisers created in the mid-1960's to refer to a form of research that emphasizes the understanding of consumers' activities, interests, and opinions (AIOs) USER-CONTRIBUTED Allows us to describe why people buy USER-CONTRIBUTED

behavioral segmentation

Dividing a market into segments based on consumer knowledge, attitudes, uses, or responses to a product USER-CONTRIBUTED Dividing a market into groups based on consumer knowledge, attitude, use, or response to a product USER-CONTRIBUTED Dividing a market into segments based on consumer knowledge, attitudes, uses, or responses to a product.

lifestyles

Student life; everything like dances, assemblies, games and everything inside and outside of school USER-CONTRIBUTED A component of psychographics; refers to the way a person lives his or her life to achieve goals. USER-CONTRIBUTED A way of living USER-CONTRIBUTED