1. Combining potential buyers into groups that have common needs and will respond similarly to a marketing action.
    Market Segmentation
  2. Groups of prospective buyers that result from market segmentation
    Market Segments
  3. S
  4. 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
    Product differentiation
  5. The increased customer value achieved through performing organizational functions more efficiently
  6. Quantity consumed or times visited during a specific period.
    Usage Rate
  7. Idea that 80% of a firm's sales are obtained from 20% of its customers
    80/20 rule
  8. Framework relating the segments of a market to products or marketing actions of the firm
    Framework-Product Grid
  9. The place a product occupies in consumer's minds on important features relative to competing products
    Product repositioning
  10. Changing the place a product occupies in consumers' minds relative to competitive products
    Product Repositioning
  11. Means of displaying the position of products or brands in consumers' minds
    Perceptual map
Card Set
Segmenting markets and Positioning Offerings