1.

Market Segmentation

Dividing a market into smaller groups with distinct needs, characteristics, or behavior that might require separate marketing strategies or mixes.

2.

Market Targeting

The process of evaluating each market segment's attractiveness and selecting one or more segments to enter.

3.

Differentiation

Actually differentiating the market offering to create superior customer to create superior customer value.

4.

Positioning

Arranging for a market offering to occupy a clear, distinctive and desirable place relative to competing products in the minds of the targert consumer.

5.

Geographic Segmentation

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

6.

Demographic Segmentation

Dividing the market into groups based on variables such as age, gender, family size, family life cycles, income, occupation, education, religion, race, generation, and nationality.

7.

Age and Life Cycle Segmentation

Dividing a market into different age and life-cycle groups.

8.

Gender Segmentation

Dividing a market into different groups based on gender.

9.

Income Segmentation

Dividing a market into different income groups.

10. Psychographic Segmentation

Dividing a market into different groups based on social class, lifestyle, or personality characteristics.

11. Occasion Segmentation

Dividing the market into groups according to occasions when buyers get the idea to buy, actually make their purchase, or use the purchased item.

12. Benefit Segmentation

Dividing the market into groups according to the different benefits that consumer seek from the product.

13. Inter-market Segmentation

Forming segments of consumers who have similar needs and buying behavior even though they are located in different countries.

14. Target Market

A set of buyers sharing common needs or characteristics that they company decides to serve.

15. Undifferentiated Marketing

A market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer.

16. Differentiated Marketing

A market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each.

17. Concentrated Marketing

A market-coverage strategy in which a firm goes after a large share of one or a few segments or niches.

18. Micromarketing

The practice of tailoring products and marketing programs to the needs and wants of specific individuals and local customer groups - includes local marketing and inividual marketing.

19. Local Marketing

Tailoring brand and promotions to the needs and wants of local customer groups - cities, neighborhoods and even specific stories.

20. Individual Marketing

Tailoring products and marketing programs to needs and preferences of individual customers - also labeled "one-to-one marketing", "Customized marketing" and "markets-of-one marketing".

21. Product Position

The way the product is defined by consumers on important attributes - the place the product occupies in consumers' minds relative to competing products.

22. Competitive Advantage

An Advantage over competitors gained by offering greater customer value, either through lower prices or by providing more benefits that justify higher prices.

23. Positioning Statement

A statement that summarizes company or brand positioning.

24. Product

Anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need.

25. Service

Any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything.

26. Consumer Product

A product bought by final consumer for personal consumption.

27. Convenience Product

A consumer product that customers usually buy frequently, immidiately, and with a minimum of comparison and buying effort.

28. Shopping Product

A consumer product that the customer, in the process of selection and purchases, usually compares on such a bases as suitability, style, quality and price.

29. Specialty Product

A consumer product with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort.

30. Unsought Product

A consumer product that the customer either does not know about or knows about but does not normally think of buying