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| Involves aggregating prospective buyers into groups, or segments, that 1. Have common needs and 2. will respond similarly to a marketing action. |
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| are the relatively homogeneous groups of prospective buyers that result from the buyers that result from the market segmentation process. |
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| Market strategy that involves a firm using different marketing mix activities to help consumers perceive the product as being different and better than competing products. |
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| is the quantity consumed or patronage (store visits) during a specific period also called "frequency marketing". |
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| Concept that suggests 80 percent of a firms sales are obtained from 20 percent of its customers. |
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| Framework to relate the market segments of potential buyers to produce offered or potention marketing actions by an organization. |
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| Seeks growth opportunities by finding the optimum balance between marketing efficiencies vrs production efficiencys. |
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| place and offering occupies in consumers minds on important atributes relative to competitive products. |
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| changing the place an offering occupies in consumers mind relative to competitive products. |
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| means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands and then take marketing actions. |
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