Key Terms
Customer
Person or organization with needs/wants a business seeks to address. Exchange process: getting something desired by offe
Exchange process
Obtaining a desired object from someone by offering something of value in return.
PRODUCT
Thicker texture, higher protein, no artificial preservatives. Positioned around what's in it and what isn't.
TARGET CUSTOMER
Deliberately expanded beyond the traditional target segment. Aimed at people who didn't like the existing options; not j
PLACE
Chose mass-market grocery chains instead of specialty stores. Distribution strategy drove accessibility; reaching a broa
PROMOTION
Built a two-way dialogue with customers through social media. Growth started virally; customers told other customers.
PRICE
Entered the market between low-end and premium price points. Priced based on expected economies of scale rather than rec
Segmentation
Dividing a market into groups with shared characteristics.
Targeting
Selecting which segment(s) to pursue. Marketing plan: the guiding document that coordinates all marketing activities tow