AS Chapter 3 Market Positioning Booklet

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