ch 6 - behavioristic segmentation Method of determining...

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behavioristic segmentation Method of determining market segments by grouping consumers into product-related groups based on their purchase behavior. benefit segmentation Method of segmenting consumers based on the benefits being sought. benefits Particular product attributes offered to customers, ie. high quality, low price, status, speed, sex appeal, good taste… brand That combination of name, words, symbols, or design that identifies the product and its source and distinguishes it from competing products—the fundamental differentiating device for all products. brand equity The totality of what consumers, distributors, dealers, and competitors feel and think about a brand over an extended period of time; in short, it is the value of the brand's capital. business markets Organizations that buy natural resources, component products, and services that they resell, use to conduct their business, or use to manufacture another product. collateral material All the accessory nonmedia advertising materials prepared by manufacturers to help dealers sell a product —booklets, catalogs, brochures, films, trade-show exhibits, sales kits, and so on. communication element Includes all marketing-related communications between the seller and the buyer. communications mix Variety of marketing communications tools, grouped into personal and nonpersonal selling activities cooperative (co-op) advertising Sharing of advertising costs by manufacturer and distributor or retailer. Manufacturer may repay 50 or 100% of the dealer's advertising costs or some other amount based on sales. (also horiz/vertical co-op adv) copy points Copywriting themes in a product's advertising. decline stage In prod-life cycle__ sales begin to decline due to obsolescence, new technology, or changing consumer tastes demographic segmentation Based on a population's statistical characteristics such as sex, age, ethnicity, education, occupation, income, or other quantifiable factors. direct distribution Method of marketing in which the manufacturer sells directly to customers without the use of retailers. direct marketing A system of marketing in which companies build their own database of customers and use a variety of media to communicate with them directly such as through ads and catalogs. distribution channel The network of all the firms and individuals that take title, or assist in taking title, to the product as it moves from the producer to the consumer. distribution element How and where customers will buy a company's product; either direct or indirect distribution. equipment-based service
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ch 6 - behavioristic segmentation Method of determining...

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