BUS103 9

  1. consumer prodicts
    bought for consumer end use
  2. business products 
    used directly or indirectly in production of other goods and services
  3. market segmentation
    division of total market into smaller and relatively homogeneous groups
  4. four segments
    • geographic
    • demographic
    • psychographic
    • product related
  5. psychogrphic segmentation
    divisionof a poplulationinto groups having simiklar attitude, values and lifestyles. 
  6. product related segmentaion
    • division of polulationinto homogenous groups based on their relationship to the product.¬†
    • benefit sought, usuage rates, brand loyalty
  7. geographic segmentation
    division of overall population into groups based on location.
  8. demogrpahic segmentation
    division into groups based on variables like gender, age, income, occupation, education, sexual preference, hoousehold sixe, and stage of family life cycle.
  9. undifferentiated marketing
    strategy that focuses on producing a single product and marketing it to all customers. mass marketing
  10. 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
  11. concentrated niche marketing
    focusing marketing efforts on satisfying a single market segment
  12. micromarketing
    targeting potential customers at very narrow basic levels such as zip code, specific occupation, or lifestyle.
  13. positioning
    placing a product at a certtain place or location within a market in the minds of prospective buyers
  14. repositioning
    changing the position of a product within the minds of specific buyers relative to the positions of competing products
Card Set
BUS103 9
Chapter 9