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Chapter 8 Marketing

Marketing 1 Test

QuestionAnswer
Market people or organizations with needs or wants and the ability and willingness to buy
Market Segmentation a subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs, Different bases for segmentation (Geographic, Demographic, Usage rate, etc.)
Undifferentiated a marketing approach that views the market as one big market with no individual segments and thus uses a single marketing mix
Niche one segment of a market
Concentrated a strategy used to select one segment of a market for targeting marketing efforts
Positioning developing a specific marketing mix to influence potential customers’ overall perception of a brand, product line, or organization in general
Perceptual Mapping a means of displaying or graphing, in two or more dimensions, the location of products, brands, or groups of products in customers’ minds
Created by: nronning5
 

 



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