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Last updated 10:01 PM on 3/4/25
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25 Terms
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Who is My Competition?
Companies selling the same product, substitutes for your product, competing for customer budgets, and startups with disruptive technology.
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Category Captain
A leading brand in a retail category that helps retailers decide which products to stock.
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Challenges in Understanding Customer Needs
Customer needs change constantly, customers may not know what they want, and consumer behavior varies by product, context, and people involved.
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B2B Marketing
Business-to-Business marketing, where companies buy for business use.
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B2C Marketing
Business-to-Consumer marketing, where individuals buy for personal use.
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Market Penetration
Selling more of existing products to current markets.
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Product Development
Creating new products for existing customers.
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Market Development
Expanding into new markets with existing products.
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Diversification
Entering completely new markets with new products.
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BCG Matrix
A business growth tool categorizing products into Stars, Cash Cows, Question Marks, and Dogs based on market growth and share.
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Segmentation Methods
Ways to categorize a market: Geographic, Demographic, Psychographic, Behavioral.
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Niche Market
Focuses on small, specialized groups.
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Growth Market
Targets fast-growing segments.
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Physical Positioning
Based on real product features.
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Perceptual Positioning
Based on customer perception.
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Post-Purchase Management
Affects customer satisfaction, loyalty, and brand reputation.
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Porter's Five Forces
A framework for analyzing industry attractiveness based on competitive forces.
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Consumer Insights
Information gathered to understand consumers' preferences and behaviors.
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Microsegmentation
Targeting specific needs of diverse and picky customers.
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Value Curve
A graph showing how different brands compare on key attributes.
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Repositioning
Changing how a brand is seen in the market.
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Product-Centric Business Model
Focuses on what the company makes.
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Customer-Centric Business Model
Focuses on what customers want.
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Focus Groups - Pros
Provides deep insights, encourages discussion, helps test ideas.
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Focus Groups - Cons
Expensive, small sample size, groupthink.
Flashcards (81)