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Chapter 2 Advertising LCTI Dual Enrollment
Terms in this set (26)
strategic marketing plan
the planning framework for specific marketing activities
Identifiable groups of customers sharing similar needs, wants, or other characteristics that make them likely to respond in a similar fashion to a marketing program.
Areas where a company believes there are favorable demand trends, needs, and/or wants that are not being satisfied, and where it can compete effectively.
something unique or special that a firm does or possesses that provides an advantage over its competitors
The process of identifying the specific needs of segments, selecting one or more of these segments as a target, and developing marketing programs directed to each.
a method of segmenting a market on the basis of different geographic units or areas
A method of segmenting a market based on the demographic characteristics of consumers.
Dividing the product on the basis of personality and/or lifestyles.
a method of segmenting a market by dividing customers into groups based on their usage, loyalties, or buying a responses to a product or service
the principle that 80 percent of sales volume for a product or service is generated by 20 percent of the customers
a method of segmenting markets on the basis of the major benefits cosnumers seek in a product or service
A strategy in which market segment differences are ignored and one product or service is offered to the entire market.
A type of marketing strategy whereby a firm offers products or services to a number of market segments and develops separate marketing strategies for each.
A type of marketing strategy whereby a firm chooses to focus its marketing efforts on one particular market segment.
the art and science of fitting the product or service to one or more segments of the market in such a way as to set it meaningfully apart from competition
attributes considered important to consumers in the purchase decision process
The changing of a product or brand's positioning.
the meaning a product or brand has to consumers
the combination of the name, logo, symbols, design, packaging, image, and associations held by consumers toward a brand
The intangible asset of added value or goodwill that results from the favorable image, impressions of differentiation, and/or the strength of consumer attachment of a company name, brand name, or trademark.
A set of interdependent organizations involved in the process of making a product or service available to customers
a marketing channel where a producer and ultimate consumer interact directly with one another
a marketing channel where intermediaries such as wholesalers and retailers are utilized to make a product available to the customer
promotional push strategy
a strategy in which advertising and promotional advertising efforts are targeted to the trade to attempt to gt them to promote and sell the product to the ultimate consumer
promotional pull strategy
a strategy in which advertising and promotion efforts are targeted at the ultimate consumers to encourage them to purchase the manufacturer's brand
advertising targeted to wholesalers adn retailers
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