Chapter 5 - Market segmentation, targeting, and positioning

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Essential factors in effective market segmentation

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Accessible, differentiable, actionable, measurable, and substantial

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Affinity audience

Back

A group of potential customers who have interests or hobbies in common

Front

Behavioral segmentation

Back

Method of grouping customers by their behavior patterns or interactions with a brand

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Buyer persona

Back

Semi-fictional representation of an organization’s ideal customers based on data and research

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Concentrated marketing

Back

Marketing segmentation strategy in which the firm concentrates its efforts and resources on serving one segment of the market

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Demographic segmentation

Back

Grouping customers and potential customers together by focusing on certain traits such as age, gender, income, occupation, and family status

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Determinant attributes

Back

Attributes of a product or service that consumers rely upon when making a purchase decision

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Differentiated marketing

Back

Marketing strategy that involves creating marketing campaigns that appeal to two or more different target audiences, demographics, or marketing segments

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Differentiation positioning

Back

Product/service positioning based on the differentiating characteristics or qualities that make an organization better than its competitors in the mind of the target audience

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Firmographics

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Grouping of B2B customers based on shared company attributes; includes industry, location, size, legal structure, and performance