Age and life-cycle segmentation
Offering different products to or using different marketing approaches for different age and life-cycle groups. (266)

Behavioural segmentation
Dividing a market into groups based on consumer knowledge, attitude, use, or response to a product.

Benefit segmentation
Dividing the market into groups according to the different benefits that consumers seek from the product. (270)

Competitive advantage
An advantage over competitors gained by offering consumers greater value, either through lower prices or by providing more benefits that justify higher prices. (283)

Concentrated marketing
A market-coverage strategy in which a firm goes after a large share of one or a few submarkets (278)

Demographic segmentation
Dividing the market into groups based on demographic variables such as age, sex, family size, family life cycle, income, occupation, education, religion, race, and nationality.

Differentiated marketing
A market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each (278)

Gender segmentation
Dividing a market into different groups based on sex. (267)

Geographic segmentation
Dividing a market into different geographical units such as nations, states, regions, counties, cities, or neighbourhoods. (266)

Income segmentation
Dividing a market into different income groups. (268)

Individual marketing
Tailoring products and marketing programs to the needs and preferences of individual customers. (261)

Intermarket segmentation
Forming segments of consumers who have similar needs and buying behaviour even though they are located in different countries (274)

Local marketing
Tailoring brands and promotions to the needs and wants of local customer groups–cities, neighbourhoods, and even specific stores. (261)

Market segmentation
Dividing a market into smaller groups of buyers with distinct needs, characteristics, or behaviours who might require separate products or marketing mixes.

Market targeting
The process of evaluating each market segment's attractiveness and selecting one or more segments to enter.

Market positioning
Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers, formulating competitive positioning for a product, and creating a detailed marketing mix. (258)

Micromarketing
The practice of tailoring products and marketing programs to the needs and wants of specific individuals and local customer groups–includes local marketing and individual marketing.

Niche marketing
Focusing on subsegments or niches with distinctive traits that may seek a special combination of benefits. (260)

Occasion segmentation
Dividing the market into groups according to occasions when buyers get the idea to buy, actually make their purchase, or use the purchased item. (269)

Product position
The way the product is defined by consumers on important attributes–the place the product occupies in consumers' minds relative to competing products. (282)

Psychographic segmentation
Dividing a market into different groups based on social class, lifestyle, or personality characteristics (269)

Segment marketing
Isolating broad segments that make up a market and adapting the marketing to match the needs of one or more segment (259)

Target market
A set of buyers sharing common needs or characteristics that the company decides to serve.

Undifferentiated marketing
A market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer. (277)

Value proposition
The full positioning of a brand–the full mix of benefits on which it is positioned (287)