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25 Terms

1
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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2
Category Captain
A leading brand in a retail category that helps retailers decide which products to stock.
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3
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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4
B2B Marketing
Business-to-Business marketing, where companies buy for business use.
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5
B2C Marketing
Business-to-Consumer marketing, where individuals buy for personal use.
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6
Market Penetration
Selling more of existing products to current markets.
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7
Product Development
Creating new products for existing customers.
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8
Market Development
Expanding into new markets with existing products.
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9
Diversification
Entering completely new markets with new products.
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10
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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11
Segmentation Methods
Ways to categorize a market: Geographic, Demographic, Psychographic, Behavioral.
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12
Niche Market
Focuses on small, specialized groups.
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13
Growth Market
Targets fast-growing segments.
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14
Physical Positioning
Based on real product features.
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15
Perceptual Positioning
Based on customer perception.
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16
Post-Purchase Management
Affects customer satisfaction, loyalty, and brand reputation.
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17
Porter's Five Forces
A framework for analyzing industry attractiveness based on competitive forces.
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18
Consumer Insights
Information gathered to understand consumers' preferences and behaviors.
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19
Microsegmentation
Targeting specific needs of diverse and picky customers.
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20
Value Curve
A graph showing how different brands compare on key attributes.
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21
Repositioning
Changing how a brand is seen in the market.
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22
Product-Centric Business Model
Focuses on what the company makes.
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23
Customer-Centric Business Model
Focuses on what customers want.
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24
Focus Groups - Pros
Provides deep insights, encourages discussion, helps test ideas.
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25
Focus Groups - Cons
Expensive, small sample size, groupthink.
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