Marketing

Combining potential buyers into groups that have common needs and will respond similarly to a marketing action.

Groups of prospective buyers that result from market segmentation

S

Strategy of using different marketing mix activities, such as product features and advertising, to help consumers perceive a product as being different and better than competing products

The increased customer value achieved through performing organizational functions more efficiently

Quantity consumed or times visited during a specific period.

Idea that 80% of a firm's sales are obtained from 20% of its customers

Framework relating the segments of a market to products or marketing actions of the firm

The place a product occupies in consumer's minds on important features relative to competing products

Changing the place a product occupies in consumers' minds relative to competitive products

Means of displaying the position of products or brands in consumers' minds