Fundamentals of Marketing - Mass Marketing & Market Segmentation (Vocabulary)

A set of vocabulary-style flashcards covering mass marketing, market segmentation, and related concepts from the notes.

Mass marketing

Marketing to the entire market with a single plan, without tailoring for different groups.

Market segmentation

Dividing the mass market into subgroups based on shared characteristics to tailor marketing efforts.

Geography (segmentation)

Segmenting by location such as region, city, or climate.

Demographics

Segmenting by measurable attributes like age, gender, income, education.

Psychographics

Segmenting by lifestyle, values, attitudes, interests, and personality.

Target market

The specific group of consumers a business aims its products and marketing at.

Random segmentation

Not a discussed or valid method; segmentation should be based on meaningful characteristics, not random grouping.

April Bell’s rationale for targeting

Identifying a target market helps focus marketing efforts and reduce wasted spend because marketing can be expensive.