What are the four steps in the Targeting Market Process?
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1.) Segmentation- identify and describe the various market segments, so we
are learning about the market.
2.) Targeting- evaluating and selecting the most attractive market
segment/s the company wants to go after.
3.) Differentiation- the creation of a unique product to fit the needs of the
target market/s.
4.) Positioning- place the product in the mind of the consumer so they
understand where the product fits in the industry.
What is SWOT?
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, Strengths, Weaknesses, Opportunity, and Threats.
What are the three Marketing Systems?
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1.) Conventional- multi level distribution channel, members work
independently of each other, but the relationship is mostly transaction
based. (Limited to buying and selling).
2.) Vertical- there is a formal agreement amongst two or more levels of the
distribution channel.
3.) Horizontal- two or more firms at the same level of the distribution
channel that agree to work together to get the product to the consumer.
(One World Alliance aka an airline partnership).
What is the difference between Merchandise Breadth and Merchandise Depth?
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Merchandise Breadth- includes the number of product lines carried by the
retailer. Can be a narrow assortment (limited number of product lines) or
broad assortment (wide range of product lines).
Merchandise Depth- how much choice do you have within the product line.
Can be shallow (limited selection within the product line) or deep (a lot of
selection within the product line).
What are four types of products?
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Give this one a try later!
1.) Segmentation- identify and describe the various market segments, so we
are learning about the market.
2.) Targeting- evaluating and selecting the most attractive market
segment/s the company wants to go after.
3.) Differentiation- the creation of a unique product to fit the needs of the
target market/s.
4.) Positioning- place the product in the mind of the consumer so they
understand where the product fits in the industry.
What is SWOT?
Give this one a try later!
, Strengths, Weaknesses, Opportunity, and Threats.
What are the three Marketing Systems?
Give this one a try later!
1.) Conventional- multi level distribution channel, members work
independently of each other, but the relationship is mostly transaction
based. (Limited to buying and selling).
2.) Vertical- there is a formal agreement amongst two or more levels of the
distribution channel.
3.) Horizontal- two or more firms at the same level of the distribution
channel that agree to work together to get the product to the consumer.
(One World Alliance aka an airline partnership).
What is the difference between Merchandise Breadth and Merchandise Depth?
Give this one a try later!
Merchandise Breadth- includes the number of product lines carried by the
retailer. Can be a narrow assortment (limited number of product lines) or
broad assortment (wide range of product lines).
Merchandise Depth- how much choice do you have within the product line.
Can be shallow (limited selection within the product line) or deep (a lot of
selection within the product line).
What are four types of products?
Give this one a try later!
