Chapter 8 – Marketing Segmentation, Targeting, and Positioning

Aggregating prospective buyers 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 homogeneous groups of prospective buyers that result from the market segmentation process.
A relatively homogenous group of prospective buyers that results from the market segmenation process is referred to as a(n)_____.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 firms.
A framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization is referred to as ______.market-product grid.
A market-product grid is a framework to relate:the market segments of potential buyers to products offered or potential marketing actions by an organization.
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.
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 strategy.
When a new product or a 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, measurable, or other classification attribute of prospective customers are used in which segmentation base?demographic.
The quantity consumed or patronage (store visits) during a specific period is referred to: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.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 in two dimensions the location of prodcuts 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.