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consumer prodicts
bought for consumer end use
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business products
used directly or indirectly in production of other goods and services
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market segmentation
division of total market into smaller and relatively homogeneous groups
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four segments
- geographic
- demographic
- psychographic
- product related
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psychogrphic segmentation
divisionof a poplulationinto groups having simiklar attitude, values and lifestyles.
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product related segmentaion
- division of polulationinto homogenous groups based on their relationship to the product.
- benefit sought, usuage rates, brand loyalty
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geographic segmentation
division of overall population into groups based on location.
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demogrpahic segmentation
division into groups based on variables like gender, age, income, occupation, education, sexual preference, hoousehold sixe, and stage of family life cycle.
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undifferentiated marketing
strategy that focuses on producing a single product and marketing it to all customers. mass marketing
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differentiated marketing
strategy that focuses on producing several products and pricing promoting and distributiong them with different marketing mixes designed to satisfy smaller market segments
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concentrated niche marketing
focusing marketing efforts on satisfying a single market segment
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micromarketing
targeting potential customers at very narrow basic levels such as zip code, specific occupation, or lifestyle.
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positioning
placing a product at a certtain place or location within a market in the minds of prospective buyers
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repositioning
changing the position of a product within the minds of specific buyers relative to the positions of competing products
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