Business Terms

5. the process of establishing the image or identity of a brand or product so that consumers perceive it in a certain way
6. the dimensions that actually affect the customer's purchase of a specific product or brand in a product-markets
8. subsets of a market based on demographics, needs, priorities, common interests, and other psychographic or behavioral criteria used to better understand the target audience
9. a type of consumer product on the market that lacks a widely recognized name or logo because it typically isn't advertised.
11. the dimensions that are relevant to including a customer type in a product-market.
12. aims at two or more submarkets with the same marketing mix.
13. refers to people who are grouped together for marketing purposes
15. aggregating prospective buyers into groups with common needs and who respond similarl to a marketing action.
16. a regular gathering of people for the purchase and sale of provisions, livestock, and other commodities
17. segmenting the market and picking one of the homogeneous segments as the firm's target market.
18. segmenting the market and choosing two or more segments, and then treating each as a separate target market needing a different marketing mix.

1. the predictive marketing version of segmenting.
2. defines where your product (item or service) stands in relation to others offering similar products and services in the marketplace as well as the mind of the consumer.
3. a system where customers buy products and services for consumption or sharing with others rather than for reselling.
4. combining two or more submarkets into one larger target market as a basis for one strategy
7. Behavioral segmentation refers to the practice of identifying and grouping online visitors based primarily on their online browsing
10. economic marketplace where final goods or services are traded.
14. split it up into groups that have similar characteristics.