A set of buyers sharing common needs or characteristics that the company decides to serve.
A market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer.
Undifferentiated (mass) marketing
A market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each.
Differentiated (segmented) marketing
A market-coverage strategy in which a firm goes after a large share of one or a few segments or niches.
Concentrated (niche) marketing
Tailoring products and marketing programs to the needs and wants of specific individuals and local customer segments; it includes local marketing and individual marketing.
Tailoring brands and promotions to the needs and wants of local customer segments- cities, neighborhoods, and even specific stores.
Tailoring products and marketing programs to the needs and preferences of individual customers- also called one-to-one marketing, customized marketing, and markets-of-one marketing.
The way the product is defined by consumers on important attributes- the place the product occupies in consumers' minds relative to competing products.
An advantage over competitors gained by offering greater customer value, either by having lower prices or providing more benefits that justify higher prices.
The full positioning of a brand- the full mix of benefits on which it is positioned.
A statement that summarizes company or brand positioning. It takes this form: To busy, mobile professionals who need to always be in the loop, the blackberry is a reliable way to stay connected while on the go.