BU352 Chapter Notes - Chapter 6: Geodemographic Segmentation, Micromarketing, Mass Customization
Document Summary
Bu352 ch6 segmentation, targeting, and positioning: key terms form textbook. Behavioral segmentation: groups consumers based on the benefits they derive from products or services, their usage rate, their loyalty, and the occasion. Benefit segmentation: groups consumers based on the benefits they derive from products or services. Brand repositioning: a strategy in which marketers change a brand"s focus to target new markets or realign the brand"s core emphasis with changing market preferences. Concentrated targeting strategy: a marketing strategy of selecting a single, primary target market and focusing all energies on providing a product to fit that market"s needs. Demographic segmentation: the grouping of consumers according to easily measured, objective characteristics such as age, gender, income, and education. Differentiated targeting strategy: a strategy through which a firm targets several market segments with a different offering for each. Geodemographic segmentation: the grouping of consumers on the basis of a combination of geographic, demographic, and lifestyle characteristics.
