Marketing Principles: Chapter 8

Aggregating prospective buyer into groups that have common needs, and will respond similarly to a marketing action is referred to as:
Market Segmentation
Market Segments refer to:
The relatively homogenous groups of prospective buyers that result from the market segmentation process.
A relatively homogenous group of prospective buyers that result from the market segmentation process is referred to as:
Market Segment
Product differentiation refers to:
A marketing strategy that involves a firm using different marketing mix actions to help consumers perceive the product as being different and better than competing products.
A framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization is referred to as a:
Market-products grid
A market-product grid is a framework to relate:
the market segments of potential buyers to products offered or potential marketing actings by an organization.
A market-product is a framework to relate the ______ to products offered or potential marketing actions by an organization:
market segments of potential buyers
Tailoring products or services to the tastes of individual customers on a high-volume scale is referred to as:
Mass customization
Manufacturing a product only when there is an order from a customer is referred to as:
Build-to-order
The increased customer value achieved through performing organizational functions like marketing or manufacturing more efficiently is referred to as:
Organizational Synergy
When a new product or new retail chain steals customers and sales from older existing ones of an organization, it is referred to as:
Cannibalization
Variables that are based on some objective physical (gender, ethnicity), measurable (age, income), or other classification attribute (occupation) of prospective customers are used in which segmentation base?
Demographic
The quantity consumed or patronage(store visits) during a specific period is referred to as:
Usage Rate
The market segmentation strategy known as frequency marketing focuses on:
Usage Rate
A market-product grid is a framework to relate the______ to products offered or potential marketing actions by an organization.
Market segments of potential buyers
Product positioning refers to:
The place a product offering occupies in consumers’ minds on important attributes.
Positioning that involves competing directly with competitors on similar product attributes in the same target market is referred to as:
Head-to head positioning
A means of displaying or graphing 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 its own product or brand, is referred to as a:
Perceptual Map