Chapter 11 (marketing) – Flashcards
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Behavioral segmentation
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is a segmentation strategy that uses variables, such as heavy buyers, to identify different market segments.
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Pricing
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is the process of determining the best price at which to sell a product.
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Place
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is the part of the marketing mix concerned with getting products from producers to consumers
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Which of the following are considered cultural influences when evaluating consumer purchasing behavior?
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Culture, subculture, and social class
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Marketing objectives
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are the things marketing intends to accomplish.
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Data warehousing
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is the collection, storage, and retrieval of data in electronic files
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Economic environment
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the relevant conditions that exist in the economic system in which a company operates
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Industrial Market
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is an organizational market consisting of firms that buy goods that are either converted into products or used during production
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Customer relationship management
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An organized method that an enterprise uses to build better information connections with clients, so that managers can develop stronger enterprise-client relationships
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Behavioral Segmentation
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is a segmentation strategy that uses behavioral variables to identify different market segments
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Product differentiation
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is the creation of a product feature or product image that differs enough from existing products to attract customers.
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Demographic segmentation
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is a segmentation strategy that uses demographic characteristics to identify different market segments.
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Data mining
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the application of electronic technologies for searching, sifting, and reorganizing pools of data to uncover useful information
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Technological environment
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all the ways by which firms create value for their constituents
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Consumer goods
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physical products purchased by consumers for personal use
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Psychological
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influences include an individual's motivations, perceptions, ability to learn, and attitudes that marketers use to study buying behavior.
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Possession utility
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is transferring product ownership to customers by setting selling prices; setting terms for customer credit payments, if needed; and providing ownership documents
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Observation
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is a research method that obtains data by watching and recording consumer behavior
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Institutional market
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is an organizational market consisting of such nongovernmental buyers of goods and services as hospitals, churches, museums, and charitable organizations.
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Sociocultural environment
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is the customs, mores, values, and demographic characteristics of the society in which an organization functions.
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Define utility
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The ability of a product to satisfy a human want or need
