Copyright

Segmentation & Product Marketing Flashcards

Segmentation & Product Marketing Flashcards
1/17 (missed) 0 0
Create Your Account To Continue Studying

As a member, you'll also get unlimited access to over 79,000 lessons in math, English, science, history, and more. Plus, get practice tests, quizzes, and personalized coaching to help you succeed.

Try it risk-free
Try it risk-free for 30 days. Cancel anytime
Already registered? Log in here for access
Heterogeneous products
Product types that vary considerably between different brands. These products can include cars, appliances, computers and houses.
Got it
Homogenous products
Identical products that are from different brands yet possess similar characteristics. These characteristics can include price, performance and reliability.
Got it
Positioning
The consumer's perception of a product in relation to competitors.
Got it
Reposition
To change the target market of a specific product. This can be achieved through a change in price, a change in quality, or a change in a product characteristic.
Got it
Usage rate market segmentation
Basing marketing on a customer's consumption level and rewarding customers who consume at a higher level.
Got it
Psychographic market segmentation
Form of market segmentation focusing the marketing efforts on a specific like or desire of a consumer. An example is marketing material that appeals to a person's need for adventure.
Got it
Demographic market segmentation
Form of market segmentation focusing the marketing efforts on consumers who share a common characteristic like age, gender, nationality, religion, income level or race.
Got it
Geographic market segmentation
Form of market segmentation focusing the marketing efforts on consumers who live in a certain geographic area.
Got it
17 cards in set

Flashcard Content Review

One of the most important things that a marketer can do is determine who their product should be marketed towards. Without this crucial activity, marketing resources would be diluted towards people who have no need or desire to purchase a company's product. Once the target market is determined the marketing department must then figure out how to market their product to that target market.

This allows the marketer to focus efforts on the people who are most likely to purchase the product or service. This segmentation and product marketing creates a more efficient and more effective marketing department which ultimately leads to a more profitable business.

Front
Back
Geographic market segmentation
Form of market segmentation focusing the marketing efforts on consumers who live in a certain geographic area.
Demographic market segmentation
Form of market segmentation focusing the marketing efforts on consumers who share a common characteristic like age, gender, nationality, religion, income level or race.
Psychographic market segmentation
Form of market segmentation focusing the marketing efforts on a specific like or desire of a consumer. An example is marketing material that appeals to a person's need for adventure.
Usage rate market segmentation
Basing marketing on a customer's consumption level and rewarding customers who consume at a higher level.
Reposition
To change the target market of a specific product. This can be achieved through a change in price, a change in quality, or a change in a product characteristic.
Positioning
The consumer's perception of a product in relation to competitors.
Homogenous products
Identical products that are from different brands yet possess similar characteristics. These characteristics can include price, performance and reliability.
Heterogeneous products
Product types that vary considerably between different brands. These products can include cars, appliances, computers and houses.
Satisficer
A consumer who makes a purchase as soon as they find a product that meets their needs.
Optimizer
A consumer who makes a purchase after collecting data and analyzing all possible options.
Brand
The name, logo and symbol of a company that helps to distinguish its products from other companies in the same market.
Brand message
The method of communicating the value of a product to the consumer.
OEMs (Original Equipment Manufacturers)
Also called producers, these are businesses that produce products for other businesses.
Raw material
Natural resources that are modified in the manufacturing process in order to create the final product. Can include wood, oil, cotton and wool.
Convenience product
A product that has a very large target market and is purchased without much planing or forethought.
Benefit segmentation
This is a type of market segmentation that divides customers based on what benefit has brought them to the product in the first place.
Family life cycle segmentation
This is a subset of demographic market segmentation that divides customers by their marital status, age, or number of children.

To unlock this flashcard set you must be a Study.com Member.
Create your account

Unlock Your Education

See for yourself why 30 million people use Study.com

Become a Study.com member and start learning now.
Become a Member

Already a member? Log In

Support