AS Chapter 3 Market Positioning Booklet

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Draggable item		Corresponding Item
Mass market		Involves dividing a market into parts that reflect different customer needs and wants.
Adding value		A smaller segment of a larger market, where customers have specific needs and wants & successful products are highly differentiated
Market segmentation		The largest part of the market, where there are many similar (undifferentiated) products offered by competitors
Niche market		The set of customers sharing common needs and wants that a business tries to connect with
Target market		Where a product has a value proposition that is sustainably different from the competition
Income		The place a product occupies in customer minds relative to competing products.
Market positioning		The process of adding value to the cost of inputs into and through the transformation process
Behavioural		Dividing a market into segments based on demographic variables such as age, gender, family lifestyle, religion, nationality ethnicity etc.
Geographical		Dividing markets into different income segments, often on the basis of social-economic grouping
Demographic		Dividing a market into segments based on the different ways customers use or respond to a product and the benefits they seek
Product differentiation		Dividing a market into different geographical units, such as nations, regions, cities, neighbourhoods or other territories
Market positioning map		A market (or positioning) map illustrates the range of “positions” that a product can take in a market based on two dimensions that are important to customers.