Integrated Marketing Communications Review

These flashcards cover essential vocabulary and concepts from the Integrated Marketing Communications lecture notes.

Market Segmentation

The process of dividing a total market into smaller segments of consumers with similar needs or characteristics.

Behavioristic Segmentation

A category that focuses on consumer buying behavior rather than lifestyle characteristics.

Geographic Segmentation

Dividing the market based on geographical regions such as cities, states, or countries.

Demographic Segmentation

Grouping consumers based on statistical characteristics like age, sex, income, and education.

Psychographic Segmentation

Segmenting people based on their values, attitudes, personality, and lifestyles.

VALS (Values, Attitudes, and Lifestyles)

A psychographic classification system that categorizes consumers into eight groups based on their motivations and resources.

Target Market

A specific group of consumers that a company aims to reach with its products and marketing activities.

Marketing Mix

A strategy for matching products with markets, usually comprising the four Ps: Product, Price, Place, and Promotion.

Product Life Cycle

The progression of a product through four stages: Introduction, Growth, Maturity, and Decline.

Product Differentiation

The process of distinguishing a product from others to make it more attractive to a specific target market.

Brand Equity

The value added to a product by having a well-known brand name.

NAICS (North American Industry Classification System)

A classification system that organizes business establishments into industries for the purpose of collecting, analyzing, and publishing statistical data.

Distribution Channel

The path through which goods and services travel from the vendor to the consumer.

Communication Element

A component of marketing that includes all marketing-related communications between the seller and the buyer.

Sales Promotion

A marketing strategy to stimulate customer behavior through incentives like discounts, free samples, or contests.

Product Positioning

Creating a distinct image or identity for a product in the minds of the target market.

Indirect Distribution

A distribution strategy where intermediaries or resellers are used to reach the consumer.