| A | B |
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| compete | It is sometimes hard to understand and define generic markets because different product types may _______+ with each other. |
| product | market in which sellers offer very similar methods of satisfying customer needs. |
| generic market | THIS has customers with broadly similar needs. often includes consumers who will satisfy the same need in quite different ways. often involves sellers who compete in different product-markets. often includes sellers who offer diverse ways of satisfying a need. |
| geographic area. | A complete product-market definition includes product type, customer needs, customer types, and THIS |
| product type | The generic market includes only three of four aspects of the product-market definition— customer needs, customer types, and geographic area. It does not include THIS |
| Segmenting | THIS tries to aggregate individuals who have similar needs and characteristics. |
| broad | The first step in the market segmentation process involves naming _________product-markets |
| operational. | When segmenting a broad product-market, it is especially important that marketers create segments that are |
| fishing trips | people who buy fly fishing equipment for _____________ would be an example of broad product-market within the generic market of outdoor adventure |
| multiple | The ___________ target market approach is being used when a company treats its two chosen submarkets as separate target markets, with each requiring different marketing mixes |
| combiners | Target markets who are THIS use one marketing mix to appeal to multiple submarkets, even though the submarkets have some distinct differences |
| limited | using a combined target market approach to developing market-oriented strategies h is especially attractive for firms with __________resources |
| profit | The balancing point that determines just how unique a marketing mix a firm can afford to develop for a particular market segment |
| differences | As an approach to developing market-oriented strategies.A combiner looks at various submarkets for similarities rather than THESE |
| qualifying | When creating a marketing strategy and engaging in market segmentation, the ______ dimensions are the dimensions that define which potential customers are included in a segment |
| determining | Marketing Dimension used when customers purchased the company’s products primarily because a magazine said something was a status symbol |
| buyer persona | a detailed description of a typical, but fictional, customer |
| brands | A determining dimension is most helpful in understanding how customers in a target market decide exactly which __________ of product to buy |
| unethical segmenting | Intentionally targeting people with a limited understanding of the Internet and poor financial literacy could be THIS |
| clustering technique | A variation of the THIS relies on customer relationship management |
