Marketing Segmentation, Targeting, Differentiation, and Positioning

Vocabulary flashcards covering the core concepts of market segmentation, target marketing strategies, differentiation, and product positioning.

Market Segmentation

The process of dividing the total market into smaller groups of consumers who share common needs, wants, characteristics, and behaviors.

Geographic Segmentation

Dividing a market into different geographical units such as nations, regions, states, counties, or cities.

Age and Life Cycle Segmentation

The process of offering different products or using different marketing approaches for different age and life cycle groups.

Psychographic Segmentation

Dividing consumers into different groups based on social class, lifestyle, and personality traits.

User Status Segmentation

Dividing a market into non-users, potential users, or current users of a product.

Benefit Segmentation

Dividing a market according to the specific benefits that consumers seek from a product, such as taste, packaging, or health tracking.

Usage Rate Segmentation

Segmenting a market into light users and heavy users of a product.

Differentiated Marketing Strategy

A target marketing strategy that involves deciding to target several market segments and designing separate offers for each segment.

Concentrated Marketing Strategy

A market-coverage strategy in which a company focuses on obtaining a large share of one or a few smaller market segments or niches.

Micromarketing Strategy

The practice of tailoring products and marketing programs to suit the specific tastes of individual consumers.

Product Positioning

The way a product is defined by consumers on important attributes, or how consumers perceive the product relative to competing products.

Positioning Map

A visual map showing consumers' perceptions of a brand versus competing brands along key product attributes or buying dimensions.