Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
MKTG 305
Chapter 9 - Market Segmentation, Targeting, and Positioning
| Term | Definition |
|---|---|
| 80/20 Rule | a concept that suggests 80 percent of a firm's sales are obtained from 20 percent of its customers |
| Market-Product Grid | a framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization |
| Market Segmentation | involves aggregating prospective buyers into groups, or segments, that (1) have common needs and (2) will respond similarly to a marketing action |
| Market Segments | the relatively homogeneous groups of prospective buyers that result from the market segmentation process |
| Perceptual Map | a means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands, as well as the firm's own product or brand |
| Product Differentiation | a marketing strategy that involves a firm using different marketing mix activities to help consumers perceive the product as being different and better than competing products |
| Product Positioning | the place a product occupies in consumers' minds on important attributes relative to competitive products |
| Product Repositioning | changing the place a product occupies in a consumer's mind relative to competitive products |
| Usage Rate | the quantity consumed or patronage (store visits) during a specific period (also called frequency marketing) |
Created by:
Danielle0051
Popular Marketing sets