KEY TERMS UNIT 2 (UNDERSTANDING CUSTOMERS) Marketing.

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Presentation transcript:

KEY TERMS UNIT 2 (UNDERSTANDING CUSTOMERS) Marketing

ID SMALLER GROUP(S) WHOSE MEMBERS SHARE 1 OR MORE CHARACTERISTICS. Segmentation #1 SHOWNEXT MARK FOR REVIEW Review

TRY TO APPEAL TO THE ENTIRE MARKET; A “ONE SIZE FITS ALL” APPROACH. Mass Marketing #2 SHOWNEXT MARK FOR REVIEW Review

DIVIDING CONSUMERS INTO MARKETS BASED ON WHERE THEY LIVE. Geographic #3 SHOWNEXT MARK FOR REVIEW Review

MEASURABLE CHARACTERISTICS LIKE AGE, GENDER, RACE, INCOME, AND EDUCATION. Demographics #4 SHOWNEXT MARK FOR REVIEW Review

PEOPLE’S SOCIAL CLASS, LIFESTYLE, AND PERSONALITY. Psychographics #5 SHOWNEXT MARK FOR REVIEW Review

HOW AND HOW OFTEN CONSUMERS USE A PRODUCT. Product Usage #6 SHOWNEXT MARK FOR REVIEW Review

THE VALUE OR UTILITY CONSUMERS RECEIVE FROM THE PRODUCT OR SERVICE. Benefits Derived #7 SHOWNEXT MARK FOR REVIEW Review

THE TOTAL REVENUE THAT CAN BE OBTAINED FROM THE MARKET SEGMENT. Market Potential #8 SHOWNEXT MARK FOR REVIEW Review

THE % OF THE TOTAL MARKET POTENTIAL THAT EACH COMPANY EXPECTS TO GET IN RELATION TO ITS COMPETITORS. Market Share #9 SHOWNEXT MARK FOR REVIEW Review

COMPANY FOCUSES ITS TIME, MONEY, AND EFFORT ON 1 SEGMENT THAT WANTS TO & IS ABLE TO THE PRODUCT. Target Marketing #10 SHOWNEXT MARK FOR REVIEW Review

THE STUDY OF CONSUMERS AND HOW THEY MAKE BUYING DECISIONS. Consumer Behavior #11 SHOWNEXT MARK FOR REVIEW Review

THE REASONS CUSTOMERS BUY THINGS. Buying Motives #12 SHOWNEXT MARK FOR REVIEW Review

THE SENSE OF REGRET ONE HAS AFTER PURCHASING AN EXPENSIVE ITEM. Buyer’s Remorse #13 SHOWNEXT MARK FOR REVIEW Review

HUMANS CANNOT LIVE WITHOUT FOOD, SLEEP, WATER, SHELTER, AND AIR. Physical Motives #14 SHOWNEXT MARK FOR REVIEW Review

PROCESS OF GAINING COMPETITIVE MARKET INFORMATION. Marketing Intelligence #15 SHOWNEXT MARK FOR REVIEW Review

MENTAL CAUSES OF BUYING, INCLUDING SECURITY, SOCIAL, AND SELF ESTEEM. Psychological Motives #16 SHOWNEXT MARK FOR REVIEW Review

FEELINGS EXPRESSED THROUGH AN ASSOCIATION WITH A PRODUCT (PLEASURE, EXCITEMENT, FEAR, GUILT). Emotional Motives #17 SHOWNEXT MARK FOR REVIEW Review

CONSCIOUS, FACTUAL, AND LOGICAL REASONS LIKE CONVENIENCE & PERFORMANCE. Rational Motives #18 SHOWNEXT MARK FOR REVIEW Review

LOYALTY TO A PRODUCT OR COMPANY. Patronage Motives #19 SHOWNEXT MARK FOR REVIEW Review

ALL POTENTIAL CUSTOMERS A COMPANY WOULD LIKE TO SERVE. Market #20 SHOWNEXT MARK FOR REVIEW Review

The End REVIEWEND