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ch. 6 mkt vocab

for exam 2

QuestionAnswer
Target Marketing the process of evaluating each mkt segment's attractiveness and selecting one or more segment's to enter
Market Positioning arranging for a mkt offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers
Market Segmentation dividing a mkt into smaller segments with distinctive needs, characteristics, or behavior that might require seperate mkting strategies or mixes
Geographic seg. dividing a mkt into different geographical units such as nations, states, regions, counties, cities, or neighborhoods
Demographic seg. dividing the mkt into segments based on variables such as age, gender, family size/life cycle, income, occupation, edu, religion, race, generation, and nationality
Age and life-cycle seg. dividing a mkt into different age and life cycle groups
Gender seg. dividing a mkt into different segments based on gender
Income seg. dividing a mkt into different income segments
Psychographic seg. dividing a mkt into different segs based on social class, lifestyle, or personality characteristics
Behavioral seg. dividing a mkt into segments based on consumer knowledge, attitudes, uses, or responses to a product
Occasion seg. dividing a mkt into segments according to occasions when buyers get the idea to buy, actually make their purchase, or use the purchased item
Benefit seg. dividing the mkt into segments according to the different benefits that consumers seek from the product
Micromarketing the practice of tailoring products and mkting programs to the needs and wants of specific individs and local customer segments - includes local mkting and individ mkting
Value proposition the full positioning of a brand - the full mix of benefits upon which it is positioned
Created by: ss316908
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