14102362
Description
Flashcards by Charlotte Marko , updated more than 1 year ago
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Created by Charlotte Marko
about 7 years ago
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| Question | Answer |
| what is the 5 step process of segmenting, targeting and positioning? | Segmentation 1. strategy or objectives 2. describe segments Targeting 3. evaluate segment attractiveness 4. select target market Positioning 5. Identify and develop positioning strategies |
| What are the 5 methods of segmenting consumers? Give an example of a company that uses each | geographic ex. McDonalds (different menu) demographic ex. Gillette (men vs women) behavioural ex. Quantas (frequent flyers) psychographic ex. Harley Davidson (tough bikers) benefits ex. Treseme (sensitive, coloured hair etc.) |
| What are some additional segmenting methods for b2b customers? | -operating characteristics -purchasing approaches -situational factors -personal characteristics |
| What are some methods used for international segmentation? | based on geography, economic, political, legal and cultural factors. Intermarket segmentation - form based on similar needs and behaviors despite geographic differences |
| What are the 5 attributes that make a segment attractive? | 1. substanstial 2. identifiable 3. profitable 4. responsive 5. reachable |
| What are the 4 target marketing strategies | 1. undifferentiated (mass marketing) 2. differentiated (segmented marketing) 3. concentrated (niche marketing) 4. micromarketing or one-to-one |
| what is a value proposition? | a business or marketing statement that a company uses to summerise why a customer should buy their product or service over competitors offerings |
| What are 4 methods of positioning? | 1. value(price vs quality) 2. important attributes ( colgate toothpaste) 3. symbol (kleenex puppy) 4. competition (mac vs. pc) |
| What are the 6 steps in creating a positioning strategy? | 1. determine consumers perceptions and evaluations in relation to competitors 2. identify ideal points and size of market 3. identify competitors positions 4. determine consumer preferences 5. select the position 6. monitor the positioning strategy |
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