Marketing Test 2 Answers – Flashcards
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marketing information
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everyday information about developments in the marketing environment that managers use to prepare and adjust marketing plans
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decision support system (DDS)
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an interactive, flexible, computerized information system that enables managers to obtain and manipulate information as they are making decisions
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database marketing
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the creation of a large computerize file of customers' and potential customers' profiles and purchase patterns
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marketing research
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the process of planning, collecting, and analyzing data relevant to a marketing decision
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marketing research problem
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determining what information is needed and how that information can be obtained efficiently and effectively
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marketing research objective
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the specific information needed to solve a marketing research problem; the objective should be to provide insightful decision-making information
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management decision problem
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a broad-based problem that uses marketing research in order for managers to take proper actions
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secondary data
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data previously collected for any purpose other than the one at hand
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marketing research aggregator
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a company that acquires, catalogs, reformats, segments, and resells reports already published by marketing research firms
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research design
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specifies which research questions must be answered, how and when the data will be gathered and how the data will be analyzed
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primary data
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information that is collected for the first time; used for solving the particular problem under investigation
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survey research
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the most popular technique for gathering primary data, in which a researcher interacts with people to obtain facts, opinions, and attitudes
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mall intercept interview
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a survey research method that involves interviewing people in the common areas of shopping malls
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computer-assisted personal interviewing
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an interviewing method in which the interviewer reads questions from a computer screen and enters the respondent's data directly into the computer
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computer-assisted self-interviewing
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an interviewing method in which a mall interviewer intercepts and directs willing respondents to nearby computers where each respondent reads questions off a computer screen and directly keys his or her answers into a computer
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central-location telephone facility
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a specially designed phone room used to conduct telephone interviewing
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executive interview
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a type of survey that involves interviewing businesspeople at their offices concerning industrial products or services
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focus group
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7-10 people who participate in a group discussion led by a moderator
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open-ended question
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an interview question that encourages an answer phrased in the respondent's own words
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closed-ended question
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an interview question that asks the respondent to make a selection from a limited list of responses
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scaled-response
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a closed-ended question designed to measure the intensity of a respondent's answer
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observation research
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a research method that relies on four types of observation: people watching people, people watching an activity, machines watching people, and machines watching an activity
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mystery shoppers
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researcher posing as customers who gather observational data about at store
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behavioral targeting (BT)
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a form of observation marketing research that combines a consumer's online activity with psychographic and demographic profiles compiled in databases
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ethnographic research
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the study of human behavior in its natural context; involves observation of behavior and physical setting
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experiment
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a method of gathering primary data in which the researcher alter one or more variables while observing the effects of those alterations on another variable
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sample
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a subset from a larger population
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universe
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the population from which a sample will be drawn
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probability sample
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a sample in which every element in the population has a known statistical likelihood of being selected
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random sample
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a sample arranged in such a way that every element of the population has an equal chance of being selected as part of the sample
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non-probability sample
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any sample in which little or no attempt is made to get a representative cross section of the population
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convenience sample
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a form of non-probability sample using respondents who are convenient or readily accessible to the researcher--for example, employees, friends, or relatives
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measurement error
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an error that occurs when there is a difference between the information desired by the researcher and the information provided by the measurement process
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sampling error
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an error that occurs when a sample somehow does not represent the target population
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frame error
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an error that occurs when a sample drawn from a population differs from the target population
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random error
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an error that occurs when the selected sample is an imperfect representation of the overall population
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field service firm
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a firm that specializes in interviewing respondents on a subcontracted basis
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cross-tabulation
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a method of analyzing data that lets the analyst look at the responses to one question in relation to the responses to one or more other questions
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consumer-generated media (CGM)
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media that consumers generate and share among themselves
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scanner-based research
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a system fro gathering information from a single group of respondents by continuously monitoring the advertising, promotion, and pricing they are exposed to an the things they buy
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BehaviorScan
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a scanner-based research program that tracks the purchases of 3,000 households through store scanners in each research market
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InfoScan
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a scanner-based sales-tracking service for the consumer packaged-goods industry
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neuromarketing
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a field of marketing that studies the body's responses to marketing stimuli
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competitive intelligence (CI)
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an intelligence system that helps managers asses their competition and vendors in order to become more efficient and effective competitors
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product
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everything, both favorable and unfavorable, that a person receives in an exchange
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business product (industrial product)
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a product used to manufacture other goods or services, to facilitate an organization's operations, or to resell to other customers
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consumer product
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a product bought to satisfy an individual's personal wants
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convenience product
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a relatively inexpensive item that merits little shopping effort
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shopping product
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a product that requires comparison shopping because it is usually more expensive than a convenience product and is found in fewer stores
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specialty product
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a particular item for which consumer search extensively and are very reluctant to accept substitutes
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unsought product
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a product unknown to the potential buyer or a known product that the buyer does not actively seek
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product item
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a specific version of a product that can be designated as a distinct offering among an organization's products
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product line
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a group of closely related product items
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product mix
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all products that an organization sells
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product mix width
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the number of product lines and organization offers
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product line depth
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the number of product items in a product line
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product modification
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changing one or more of a product's characteristics
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planned obsolescence
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the practice of modifying products so those that have already been sold become obsolete before they actually need replacement
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product line extension
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adding additional products to an existing product line in order to compete more broadly in the industry
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brand
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a name, term, symbol, design or combination thereof that identifies a seller's products and differentiates them from competitors' products
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brand name
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that part of a brand that can be spoken, including letters, words, and numbers
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brand mark
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the elements of a brand that cannot be spoken
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brand equity
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the value of company and brand names
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global brand
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a brand that obtains at least a third of its earnings from outside its home country, is recognizable outside its home base of customers, and has publicly available marketing and financial data
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brand loyalty
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consistent preference for one brand over all others
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manufacturer's brand
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the brand name of a manufacturer
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private brand
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a brand name owned by a wholesaler or a retailer
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captive brand
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a brand manufactured by a third party for an exclusive retailer, without evidence of that retailer's affiliation
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individual branding
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using different brand names for different products
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family branding
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marketing several different products under the same brand name
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co-branding
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placing two or more brand names on a product or its package
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trademark
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the exclusive right to use a brand or part of a brand
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service mark
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a trademark for a service
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generic product name
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identifies a product by class or type and cannot be trademarked
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persuasive labeling
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a type of package labeling that focuses on a promotional theme or logo, and consumer information is secondary
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informational labeling
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a type of package labeling designed to help consumers make proper product selections and lower their cognitive dissonance after the purchase
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universal product codes (UPCs)
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a series of thick and thin vertical lines (bar codes) readable by computerized optical scanners, that represent numbers used to track products
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warranty
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a confirmation of the quality or performance of a good or service
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express warranty
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a written guarantee
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implied warranty
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an unwritten guarantee that the good or service is fit for the purpose for which it was sold
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new product
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a product new to the world, the market, the producer, the seller, or some combination of these
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new-product strategy
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a plan that links the new-product development process with the objectives of the marketing department, the business unit, and the corporation
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product development
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a marketing strategy that entails the creation of marketable new products; the process of converting applications for new technologies into marketable products
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brainstorming
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the process of getting a group to think of unlimited ways to vary a product or solve a problem
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screening
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the first filter in the product development process, which eliminates ideas that are inconsistent with the organization's new product strategy or are obviously inappropriate for some other reason
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concept test
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a test to evaluate a new-product idea, usually before any prototype has been created
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business analysis
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the second stage of the screening process where preliminary figures for demand, cost, sales, and profitability are calculated
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development
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the stage in the product development process in which a prototype is developed and a marketing strategy is outlined
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simultaneous product development
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a team-oriented approach to a new-product development
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test marketing
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the limited introduction of a product and a marketing program to determine the reactions of potential customers in a market situation
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simulated (laboratory) market testing
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the presentation of advertising and other promotional materials for several products, including a test product, to members of the product's target market
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commercialization
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the decision to market a product
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innovation
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a product perceived as a new by potential adopter
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diffusion
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the process by which the adoption of an innovation spreads
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product life cycle (PLC)
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a concept that provides a way to trace the stages of a product's acceptance, from its introduction to its decline
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product category
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all brands that satisfy a particular type of need
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introductory stage
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the full-scale launch of a new product into the marketplace
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growth stage
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the second stage of the PLC when sales typically grow at an increasing rate, many competitors enter the market, large companies may start to acquire small pioneering firms, and profits are healthy
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maturity stage
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a period during which sales increase at a decreasing rate
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decline stage
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a long-run drop in sales
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marketing channel (channel of distribution)
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a set of interdependent organizations that eases the transfer of ownership as products move from producer to business user or consumer
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channel members
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all parties in the marketing channel who negotiate with one another, buy and sell products, and facilitate the change of ownership between buyer and seller in the course of moving the product from the manufacturer into the hands of the final consumer
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discrepancy of quantity
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the difference between the amount of product produced and the amount an end user wants to buy
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discrepancy of assortment
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the lack of all the items a customer needs to receive full satisfaction form a product or products
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temporal discrepancy
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a situation that occurs when a product is produced but a customer is not ready to buy it
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spatial discrepancy
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the difference between the location of a producer and the location of widely scattered markets
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retailer
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a channel intermediary that sells mainly to consumers
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merchant wholesaler
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an institution that buys goods from manufacturers and resells them to businesses, government agencies, and other wholesalers or retailers and that receives and takes title to goods, store them in its own warehouses, and later ships them
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agents and brokers
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wholesaling intermediaries who do not take title to a product but facilitate its sale from producer to end user by representing retailers, wholesalers, or manufacturers
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logistics
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the efficient and cost-effective forward and reverse flow and storage of goods, services, and related information into, through, and out of channel member companies
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direct channel
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a distribution channel in which producers sell directly to consumers
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dual distribution (multiple distribution)
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the use of two or more channels to distribute the same product to target markets
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strategic channel alliance
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a cooperative agreement between business firms to use the other's already established distribution channel
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intensive distribution
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a form of distribution aimed at having a product available in every outlet where target customers bight want to buy it
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selective distribution
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a form of distribution achieved by screening dealers to eliminate all but few in any single area
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exclusive distribution
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a form of distribution that establishes one or few dealers within a given area
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arm's length relationship
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a relationship between companies that is loose, characterized by low relational investment and trust, and usually taking the form of a series of discrete transactions with no or low expectation of future interaction or service
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cooperative relationship
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a relationship between companies that takes the form of informal partnership with moderate levels of trust and information sharing as needed to further each company's goals
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integrated relationship
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a relationship between companies that is tightly connected, with linked processes across and between firm boundaries and high levels of trust and interfirm commitment
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channel power
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the capacity of a particular marketing channel member to control or influence the behavior of other channel members
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channel control
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a situation that occurs when one marketing channel member intentionally affects another member's behavior
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channel leader (channel captain)
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a member of a marketing channel that exercises authority and power over the activities of other channel members
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channel conflict
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a clash of goals and methods between distribution channel members
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horizontal conflict
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a channel conflict that occurs among channel members on the same level
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vertical conflict
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a channel conflict that occurs between different levels in a marketing channel, most typically between the manufacturer and wholesaler or between the manufacturer and retailer
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channel partnering (channel cooperation)
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the joint effort of all channel members to create a channel that serves customers and creates a competitive advantage
