Kotler 2020, 8 kap.

Dividing a market into different geographical units like countries, regions, cities, or neighborhoods.

Companies adapt their products, advertising, and sales to fit the specific needs of different regions.

Adjusting products to suit local conditions and customer preferences.

A marketing strategy focused on dividing a market into smaller groups based on characteristics such as demographics, psychographics, or behavior.

Dividing a market into groups based on factors like age, gender, income, education, or occupation.

Dividing a market into groups based on factors like lifestyle, values, interests, attitudes, or personality.

Dividing a market into groups based on factors like purchase occasion, usage rate, benefits sought, and loyalty status.

The process of identifying the most profitable and promising market segments to target for marketing efforts.

Dividing a market into groups based on factors like income levels or overall economic development.

Segmenting markets based on cultural factors like language, religion, values, and customs.

Creating segments of consumers who have similar needs and buying behaviors, even if they live in different countries.

Market segments should be large enough to be profitable, and their purchasing power and profiles should be measurable.

Market segments should be identifiable and reachable through marketing efforts.

Market segments should be distinct enough so that they respond differently to marketing strategies.

Market segments should be large and profitable enough to warrant marketing efforts.

Market segments should be stable and consistent over time, with predictable needs and behaviors.

A marketing strategy where a company targets a large share of a smaller market segment with specialized products and marketing efforts.

Smaller, narrowly defined groups within a larger market segment, often ignored by larger competitors.

A company's strategy to sell a large amount of its products in a specific market segment.

The process of tailoring your products, prices, and marketing messages to meet the unique needs of a specific segment.

Understanding and meeting the specific needs of your target customers within a niche.

A company's reputation built on exceeding customer expectations within a specific segment.

Gaining an initial foothold in the market by focusing on a small, specific segment.

Offering a variety of products and marketing strategies to appeal to different segments.

A unique selling proposition (USP) is a specific benefit that sets a brand apart from its competitors and is communicated to the target market.

A company should choose a differentiating attribute that is highly valued by customers, distinct from competitors, superior to other options, easily communicated, difficult to copy, affordable, and profitable.

A company should consider promoting multiple differentiators if there are multiple firms claiming the same benefit or if catering to a diverse market.

Important: The difference provides a valuable benefit to the target buyers.

Distinctive: Competitors don't offer the same benefit, or the company provides it in a unique way.

Superior: The difference is better than other ways for customers to get the same benefit.

Communicable: The difference is easily understood and noticeable by buyers.

Pre-emptive: Competitors cannot easily copy the difference.

A statement that summarizes a company's or brand's desired position in the market, highlighting its target audience, core offering, and unique advantage.

A marketing strategy where brands offer less features or quality to provide significantly lower prices, appealing to budget-conscious consumers.

A marketing strategy aiming to offer a higher value proposition by providing more features, quality, or benefits at a lower or similar price compared to competitors.

A marketing strategy where a company focuses on offering a product or service that is clearly better than competitors in a specific area.

The ability of a company to maintain a successful 'more-for-less' strategy over time is difficult due to cost pressures, competition, and maintaining quality.

A marketing strategy where a company aims to be the lowest-priced provider in the market, often sacrificing quality or features.

Consumers are increasingly flexible in their spending habits, seeking value and choosing to pay less for certain products or services, particularly those considered non-essential.

A strategy where a company offers a product or service with both high quality and a high price, targeting customers who value premium offerings.

A marketing strategy where a company targets a specific group of customers with specialized products and marketing efforts.

The process of consistently delivering on the brand's promise and communicating its unique value proposition to the target audience.

Offering more features or benefits often results in higher costs, making it difficult to offer a product or service 'for less'.

Companies trying to be everything to everyone risk losing out to more focused competitors that excel in a specific area.

The process of adjusting products, services, and marketing to meet the unique needs and preferences of different geographical regions.