WorksheetsMARKETING 111 FOR MIDTERM
Total questions: 27
Worksheet time: 5mins
The set of all brands and brand lines a particular firm offers for sale in a particular category or market segment
brand hierarchy
brand portfolio
brand personality
brand repositioning
Three strategies are
House-of-brands strategy,Branded-house strategy,Sub-brand strategy
reinvention strategy,house-of-brand strategy,back to basics strategg
branded house strategy,reinvention strategy, sub brand strategy
the firm ignores segment differences and goes after the whole market with one offer
(a)
The process of identifying customers for whom the company will optimize its offering
(a)
Sell different products to all the different segments of the market
(a)
The ability of a company to meet each customer’s requirements—to prepare on a mass basis individually designed products, services, programs, and communications
(a)
Focuses on customers whose needs the company can fulfill by ensuring that its offerings are customized to their needs
Strategic targeting
Tactical targeting
identifies the ways in which the company can reach these strategically important customers
Strategic targeting
Tactical targeting
Target compatibility
identifies the ways in which the company can reach these strategically important customers
A reflection of the company’s ability to outdo the competition in fulfilling the needs of target customers
The ability of a market segment to create superior value for the company
Target attractiveness
Focuses on customers whose needs the company can fulfill by ensuring that its offerings are customized to their needs
A reflection of the company’s ability to outdo the competition in fulfilling the needs of target customers
The ability of a market segment to create superior value for the company
● Business infrastructure ● Access to scarce resources ● Skilled employees ● Technological expertise ● Strong brands ● Collaborator networks
Target compatibility
Target attractiveness
Strategic targeting
● Monetary value ● Strategic value
Target compatibility
Target attractiveness
Strategic targeting
Visual representations of consumer perceptions and preferences
Target compatibility
Target attractiveness
Strategic targeting
Perceptual maps
audience identification based on data points like age, gender, marital status, family size, income, education, race, occupation, nationality, and/or religion.
Psychographic Segmentation
Geographic Segmentation
Demographic Segmentation
- Divides the market into geographic units such as nations, states, regions, counties, cities, or neighborhoods
Psychographic Segmentation
Geographic Segmentation
Demographic Segmentation
Buyers are divided into groups on the basis of lifestyle, or values
Psychographic Segmentation
Geographic Segmentation
Demographic Segmentation
The perceived bundle of functional, psychological, and monetary costs customers will incur in evaluating, obtaining, using, and disposing of the given market offering
Total customer cost
Total customer benefit
The perceived value of the bundle of functional, psychological, and monetary benefits customers expect from a given market offering because of the product, service, and image
Total customer cost
Total customer benefit
Based on the difference between benefits the customer gets and the costs he or she assumes for different choices
Customer value proposition
Customer value analysis
Reveals the company’s strengths and weaknesses relative to those of various competitors
Customer value proposition
Customer value analysis
Serves as a benchmark against which customers can evaluate the benefits of a company’s offering
Frame of reference
Positioning
The act of designing a company’s offering and image to occupy a distinctive place in the minds of the target market
Frame of reference
Positioning
Points of difference (P O D s)
Attribute/benefit associations that are not necessarily unique to the brand but may in fact be shared with other brands
Attributes/benefits that consumers strongly associate with a brand, positively evaluate, and believe they could not find to the same extent with a competitive brand
Points of parity (P O P s)
Attribute/benefit associations that are not necessarily unique to the brand but may in fact be shared with other brands
Attributes/benefits that consumers strongly associate with a brand, positively evaluate, and believe they could not find to the same extent with a competitive brand
Preparing, pricing, distributing, and promoting the service to customers
Interactive marketing
External marketing
Internal marketing
Employees’ skill in serving the client
Interactive marketing
External marketing
Internal marketing
Training and motivating employees to serve customers wel
Interactive marketing
External marketing
Internal marketing
