marketing ch. 6 (review questions)

demographic
Dividing the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation
4 steps of designing a customer- driven marketing strategy
market segmentation
targeting
differentiation
positioning
occasion segmentation
Dividing the market into segments according to occasions when buyers get the idea to buy, actually make their purchase, or use the purchased item
psychographics
divides buyers into these different segments social class, lifestyle, and personality
intermarket segmentation
Forming segments of consumers who have similar needs and buying behavior even though they are located in different countries
market segments must be
measurable
accessible
substantial
differentiable
actionable
positioning statement
XXX
local marketing
Tailoring brands and promotions to the needs and wants of local customer segments—cities, neighborhoods, and even specific stores
undifferentiated marketing
A market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer
position
the way the product is defined by consumers on important attributes – the place the product occupies in the consumer’s mind relative to competing products
services differentiation
XXX
more for more
value propositions reflects status and a lofty lifestyle