question

...

answer

A

question

accounting procedures that can quantify the true profitability of different activities by identifying their actual costs.

answer

activity-based cost (ABC)

question

an individual's decision to become a regular user of a product.

answer

Adoption

question

any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor.

answer

advertising

question

a specific communications task and achievement level to be accomplished with a specific audience in a specific period of time.

answer

advertising objective

question

when consumers arrive at an initial judgment and then make adjustments of their first impressions based on additional information.

answer

anchoring and adjustment heuristic

question

the price charged by other competitors for the same or a similar product.

answer

arm's-length price

question

groups a person hopes or would like to join.

answer

aspirational groups

question

a conceptual representation that views memory as consisting of a set of nodes and interconnecting links where nodes represent stored information or concepts and links represent the strength of association between this information or concepts.

answer

associative network memory model

question

a person's enduring favorable or unfavorable evaluation, emotional feeling, and action tendencies toward some object or idea.

answer

attitude

question

a product that includes features that go beyond consumer expectations and differentiate the product from competitors.

answer

augmented product

question

the set of consumers who have interest, income, and access to a particular offer.

answer

available market

question

when consumers base their predictions on the quickness and ease with which a particular example of an outcome comes to mind.

answer

availability heuristic

question

the cost per unit at a given level of production; it is equal to total costs divided by production.

answer

average cost

question

...

answer

B

question

reintroducing earlier product forms that can be well adapted to a foreign country's needs.

answer

backward invention

question

small, rectangular boxes containing text and perhaps a picture to support a brand.

answer

banner ads (Internet)

question

what specifically the actual product is.

answer

basic product

question

a descriptive thought that a person holds about something.

answer

belief

question

a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.

answer

brand

question

see branding strategy.

answer

brand architecture

question

key representatives from functions that affect the brand's performance.

answer

brand-asset management team (BAMT)

question

all brand-related thoughts, feelings, perceptions, images, experiences, beliefs, attitudes, and so on that become linked to the brand node.

answer

brand associations

question

a consumer-focused exercise that involves a series of procedures to assess the health of the brand, uncover its sources of brand equity, and suggest ways to improve and leverage its equity.

answer

brand audit

question

consumers' ability to identify the brand under different conditions, as reflected by their brand recognition or recall performance.

answer

brand awareness

question

a specialized community of consumers and employees whose identification and activities focus around the brand.

answer

brand community

question

any information-bearing experience a customer or prospect has with the brand, the product category, or the market that relates to the marketer's product or service.

answer

brand contact

question

the index of brand sales to category sales.

answer

brand development index (BDI)

question

when consumers no longer associate a brand with a specific product or highly similar products or start thinking less favorably about the brand.

answer

brand dilution

question

those trademarkable devices that serve to identify and differentiate the brand such as a brand name, logo, or character.

answer

brand elements

question

the added value endowed to products and services.

answer

brand equity

question

a company's use of an established brand to introduce a new product.

answer

brand extension

question

the perceptions and beliefs held by consumers, as reflected in the associations held in consumer memory.

answer

brand image

question

all the thoughts, feelings, images, experiences, beliefs, and so on that become associated with the brand.

answer

brand knowledge

question

all products, original as well as line and category extensions, sold under a particular brand name.

answer

brand line

question

the set of all brand lines that a particular seller makes available to buyers.

answer

brand mix

question

the specific mix of human traits that may be attributed to a particular brand.

answer

brand personality

question

the set of all brands and brand lines a particular firm offers for sale to buyers in a particular category.

answer

brand portfolio

question

the marketer's vision of what the brand must be and do for consumers.

answer

brand promise

question

collect quantitative data from consumers over time to provide consistent, baseline information about how brands and marketing program are performing.

answer

brand-tracking studies

question

an estimate of the total financial value of the brand.

answer

brand valuation

question

a structured approach to assessing the sources and outcomes of brand equity and the manner in which marketing activities create brand value.

answer

brand value chain

question

entertainment using sports, music, arts, or other entertainment activities to build brand equity.

answer

branded

question

specific brand lines uniquely supplied to different retailers or distribution channels.

answer

branded variants

question

endowing products and services with the power of a brand.

answer

branding

question

the number and nature of common and distinctive brand elements applied to the different products sold by the firm.

answer

branding strategy

question

a means by which management estimates how many units of the product the company would have to sell to break even with the given price and cost structure.

answer

breakeven analysis

question

existing companies that have added an online site for information and/or e-commerce.

answer

brick-and-click

question

complete information about business customers' past purchases; past volumes, prices, and profits.

answer

business database

question

all the organizations that acquire goods and services used in the production of other products or services that are sold, rented, or supplied to others.

answer

business market

question

...

answer

C

question

long-lasting goods that facilitate developing or managing the finished product.

answer

capital items

question

products that are necessary to the use of other products, such as razor blades or film.

answer

captive products

question

using the parent brand to brand a new product outside the product category currently served by the parent brand.

answer

category extension

question

the products or sets of products with which a brand competes and which function as close substitutes.

answer

category membership

question

marketing that links a firm's contributions to a designated cause to customers' engaging directly or indirectly in revenue-producing transactions with the firm.

answer

cause-related marketing

question

when one channel member's actions prevent the channel from achieving its goal.

answer

channel conflict

question

when channel members are brought together to advance the goals of the channel, as opposed to their own potentially incompatible goals.

answer

channel coordination

question

the ability to alter channel members' behavior so that they take actions they would not have taken otherwise.

answer

channel power

question

programs open to everyone who purchases a product or service, or limited to an affinity group of those willing to pay a small fee.

answer

club membership programs

question

two or more well-known brands are combined into a joint product or marketed together in some fashion.

answer

co-branding (also dual branding or brand bundling)

question

groups of individuals born during the same time period who travel through life together.

answer

cohorts

question

changing marketing communications programs for each local market.

answer

communication adaptation

question

determining whether an ad is communicating effectively.

answer

communication-effect research

question

the company's estimated share of market demand at alternative levels of company marketing effort in a given time period.

answer

company demand

question

the expected level of company sales based on a chosen marketing plan and an assumed marketing environment.

answer

company sales forecast

question

a company's ability to perform in one or more ways that competitors cannot or will not match.

answer

competitive advantage

question

the sales limit approached by company demand as company marketing effort increases relative to that of competitors.

answer

company sales potential

question

the degree to which all the produced units are identical and meet the promised specifications.

answer

conformance quality

question

a method for deriving the utility values that consumers attach to varying levels of a product's attributes.

answer

conjoint analysis

question

the consumer sets a minimum acceptable cutoff level for each attribute and chooses the first alternative that meets the minimum standard for all attributes.

answer

conjunctive heuristic

question

the study of how individuals, groups, and organizations elect, buy, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and wants.

answer

consumer behavior

question

the level of engagement and active processing undertaken by the consumer in responding to a marketing stimulus.

answer

consumer involvement

question

an organized movement of citizens and government to strengthen the rights and powers of buyers in relation to sellers.

answer

consumerist movement

question

the way the user performs the tasks of getting and using products and related services.

answer

consumption system

question

putting the goods in boxes or trailers that are easy to transfer between two transportation modes.

answer

containerization

question

manufacturers' reps, sales agents, and brokers, who are paid a commission based on sales.

answer

contractual sales force

question

goods the consumer purchases frequently, immediately, and with a minimum of effort.

answer

convenience goods

question

an independent producer, wholesaler(s), and retailer(s).

answer

conventional marketing channel

question

the service or benefit the customer is really buying.

answer

core benefit

question

attribute that (1) is a source of competitive advantage in that it makes a significant contribution to perceived customer benefits, (2) has applications in a wide variety of markets, (3) is difficult for competitors to imitate.

answer

core competency

question

the belief systems that underlie consumer attitudes and behavior, and that determine people's choices and desires over the long term.

answer

core values

question

the shared experiences, stories, beliefs, and norms that characterize an organization.

answer

corporate culture

question

corporately owned retailing outlets that achieve economies of scale, greater purchasing power, wider brand recognition, and better-trained employees.

answer

corporate retailing

question

offering other items in payment for purchases.

answer

countertrade

question

network planning techniques to coordinate the many tasks in launching a new product.

answer

critical path scheduling (PS)

question

stimuli that determine when, where, and how a person responds.

answer

cues

question

the fundamental determinant of a person's wants and behavior.

answer

culture

question

the differential effect that brand knowledge has on a consumer response to the marketing of that brand.

answer

customer-based brand equity

question

high customer defection.

answer

customer churn

question

data, information systems, and advice services that the seller offers to buyers.

answer

customer consulting

question

an organized collection of comprehensive information about individual customers or prospects that is current, accessible, and actionable for marketing purposes.

answer

customer database

question

the sum of lifetime values of all customers.

answer

customer equity

question

the net present value of the stream of future profits expected over the customer's lifetime purchases.

answer

customer lifetime value (CLV)

question

a set of names, addresses, and telephone numbers.

answer

customer mailing list

question

deals with individual customers rather than the mass market or even market segments.

answer

customer-management organization

question

the difference between the prospective customer's evaluation of all the benefits and all the costs of an offering and the perceived alternatives.

answer

customer perceived value (CPV)

question

how well the company is doing year after year on particular customer-based measures.

answer

customer-performance scorecard

question

a means of assessing and ranking customer profitability through accounting techniques such as activity-based costing (ABC).

answer

customer profitability analysis (CPA)

question

the process of carefully managing detailed information about individual customers and all customer "touch points" to maximize loyalty.

answer

customer relationship management (CRM)

question

training the customer's employees to use the vendor's equipment properly and efficiently.

answer

customer training

question

report of the company's strengths and weaknesses relative to various competitors.

answer

customer value analysis

question

five product levels that must be addressed by marketers in planning a market offering.

answer

customer-value hierarchy

question

combination of operationally driven mass customization with customized marketing in a way that empowers consumers to design the product and service offering of their choice.

answer

customerization

question

...

answer

D

question

the extracting of useful information about individuals, trends, and segments from the mass of data.

answer

data mining

question

a collection of current data captured, organized, and stored in a company's contact center.

answer

data warehouse

question

the process of building, maintaining, and using customer databases and other databases for the purpose of contacting, transacting, and building customer relationships.

answer

database marketing

question

consumers begin to buy the product less frequently or not at all.

answer

declining demand

question

basic frames or orientations that consumers have toward the world around them.

answer

deep metaphors

question

how well the product or service is delivered to the customer.

answer

delivery

question

the process of designing the supply chain based on adopting a target market perspective and working backward.

answer

demand chain planning

question

identifying the effect sponsorship has on consumers' brand knowledge.

answer

demand-side method

question

the totality of features that affect how a product looks, feels, and functions to a consumer.

answer

design

question

full- or part-time paid employees who work exclusively for the company.

answer

direct (company) sales force

question

the use of consumer-direct (CD) channels to reach and deliver goods and services to customers without using marketing middlemen.

answer

direct marketing

question

marketing in which direct marketers seek a measurable response, typically a customer order.

answer

direct-order marketing

question

a way of measuring a product's handling costs from the time it reaches the warehouse until a customer buys it in the retail store.

answer

direct product profitability (DDP)

question

the process of recognizing differences in sets of similar stimuli and adjusting responses accordingly.

answer

discrimination

question

small, rectangular boxes containing text and perhaps a picture to support a brand.

answer

display ads

question

those groups whose values or behavior an individual rejects.

answer

dissociative groups

question

building a planned, professionally managed, vertical marketing system that meets the needs of both manufacturer and distributors.

answer

distribution programming

question

a strong internal stimulus impelling action.

answer

drive

question

adapting both the product and the communications to the local market.

answer

dual adaptation

question

situation in which a company charges either less than its costs or less than it charges in its home market, in order to enter or win a market.

answer

dumping

question

a measure of a product's expected operating life under natural or stressful conditions.

answer

durability

question

...

answer

E

question

the use of electronic means and platforms to conduct a company's business.

answer

e-business

question

a company or site offers to transact or facilitate the selling of products and services online.

answer

e-commerce

question

situation in which the consumer compares brands on an attribute selected probabilistically, and brands are eliminated if they do not meet minimum acceptable cutoff levels.

answer

elimination-by-aspects heuristic

question

a challenge posed by an unfavorable trend or development that would lead to lower sales or profit.

answer

environmental threat

question

a particular observational research approach that uses concepts and tools from anthropology and other social science disciplines to provide deep cultural understanding of how people live and work.

answer

ethnographic research

question

in retailing, a constant low price with few or no price promotions and special sales.

answer

everyday low pricing (EDLP)

question

the process of obtaining a desired product from someone by offering something in return.

answer

exchange

question

severely limiting the number of intermediaries, in order to maintain control over the service level and outputs offered by resellers.

answer

exclusive distribution

question

consumers evaluate products and services by combining their brand beliefs—positive and negative—according to their weighted importance.

answer

expectancy-value model

question

a set of attributes and conditions buyers normally expect when they purchase this product.

answer

expected product

question

a decline in the average cost with accumulated production experience.

answer

experience curve (learning curve)

question

the most scientifically valid research designed to capture cause-and-effect relationships by eliminating competing explanations of the observed findings.

answer

experimental research

question

...

answer

F

question

a craze that is unpredictable, short-lived, and without social, economic, and political significance.

answer

fad

question

situation in which the parent brand is already associated with multiple products through brand extensions.

answer

family brand

question

parents and siblings.

answer

family of orientation

question

spouse and children.

answer

family of procreation

question

things that enhance the basic function of a product.

answer

features

question

costs that do not vary with production or sales revenue.

answer

fixed costs (overhead)

question

(1) a naked solution containing the product and service elements that all segment members value, and (2) discretionary options that some segment members value.

answer

flexible market offering

question

a gathering of six to ten people who are carefully selected based on certain demographic, psychographic, or other considerations and brought together to discuss various topics of interest.

answer

focus group

question

the art of anticipating what buyers are likely to do under a given set of conditions.

answer

forecasting

question

the size, shape, or physical structure of a product.

answer

form

question

creating a new product to meet a need in another country.

answer

forward invention

question

designed to provide rewards to customers who buy frequently and in substantial amounts.

answer

frequency programs (FPs)

question

consumers are adequately buying all products put into the marketplace.

answer

full demand

question

...

answer

G

question

unbranded, plainly packaged, less expensive versions of common products such as spaghetti, paper towels, and canned peaches.

answer

generics

question

a firm that operates in more than one country and captures R&D, production, logistical, marketing, and financial advantages in its costs and reputation that are not available to purely domestic competitors.

answer

global firm

question

an industry in which the strategic positions of competitors in major geographic or national markets are fundamentally affected by their overall global positions.

answer

global industry

question

the process of developing specific goals for the planning period.

answer

goal formulation

question

price based largely on competitors' prices.

answer

going-rate pricing

question

branded products diverted from normal or authorized distribution channels in the country of product origin or across international borders.

answer

gray market

question

...

answer

H

question

when people have a general tendency to attribute success to themselves and failure to external causes.

answer

hedonic bias

question

rules of thumb or mental shortcuts in the decision process.

answer

heuristics

question

charging higher prices on an everyday basis but then running frequent promotions and special sales.

answer

high-low pricing

question

a concept based on the development, design, and implementation of marketing programs, processes, and activities that recognizes their breadth and interdependencies.

answer

holistic marketing concept

question

two or more unrelated companies put together resources or programs to exploit an emerging market opportunity.

answer

horizontal marketing system

question

product-management organization where brand or product manager is figuratively at the center, with spokes leading to various departments representing working relationships.

answer

hub-and-spoke system

question

use of multiple channels of distribution to reach customers in a defined market.

answer

hybrid channels

question

...

answer

I

question

the set of beliefs, ideas, and impressions a person holds regarding an object.

answer

image

question

a group of firms that offer a product or class of products that are close substitutes for one another.

answer

industry

question

elaborates on product or service attributes or benefits.

answer

informational appeal

question

a special case of co-branding that involves creating brand equity for materials, components, or parts that are necessarily contained within other branded products.

answer

ingredient branding

question

any good, service, or idea that is perceived by someone as new.

answer

innovation

question

the spread of a new idea from its source of invention or creation to its ultimate users or adopters.

answer

innovation diffusion process

question

the work done to make a product operational in its planned location.

answer

installation

question

schools, hospitals, nursing homes, prisons, and other institutions that must provide goods and services to people in their care.

answer

institutional market

question

materials management, material flow systems, and physical distribution, abetted by information technology (IT).

answer

integrated logistics systems (ILS)

question

mixing and matching marketing activities to maximize their individual and collective efforts.

answer

integrated marketing

question

the strategies and tactics of selling through one channel reflect the strategies and tactics of selling through one or more other channels.

answer

integrated marketing channel system

question

a concept of marketing communications planning that recognizes the added value of a comprehensive plan.

answer

integrated marketing communications (IMC)

question

the manufacturer placing the goods or services in as many outlets as possible.

answer

intensive distribution

question

activities and processes that help to inform and inspire employees.

answer

internal branding

question

an element of holistic marketing, is the task of hiring, training, and motivating able employees who want to serve customers well.

answer

internal marketing

question

advertisements, often with video or animation, that pop up between changes on a Web site.

answer

interstitials

question

consumer purchases vary on a seasonal, monthly, weekly, daily, or even hourly basis.

answer

irregular demand

question

...

answer

J

question

small-scale wholesalers who sell to small retailers.

answer

jobbers

question

a company in which multiple investors share ownership and control.

answer

joint venture

question

...

answer

L

question

consumers may share a strong need that cannot be satisfied by an existing product.

answer

latent demand

question

producing goods with minimal waste of time, materials, and money.

answer

lean manufacturing

question

changes in an individual's behavior arising from experience.

answer

learning

question

a consumer choosing the best brand on the basis of its perceived most important attribute.

answer

lexicographic heuristic

question

one whose brand name has been licensed to other manufacturers who actually make the product.

answer

licensed product

question

the product's purchase cost plus the discounted cost of maintenance and repair less the discounted salvage value.

answer

life-cycle cost

question

a person's major concern, such as going through a divorce, going into a second marriage, taking care of an older parent, deciding to cohabit with another person, deciding to buy a new home, and so on.

answer

life stage

question

a person's pattern of living in the world as expressed in activities, interests, and opinions.

answer

lifestyle

question

the parent brand is used to brand a new product that targets a new market segment within a product category currently served by the parent brand.

answer

line extension

question

a company lengthens its product line beyond its current range.

answer

line stretching

question

a permanent repository of information.

answer

long-term memory (LTM)

question

a commitment to rebuy or repatronize a preferred product or service.

answer

loyalty

question

...

answer

M

question

the service program for helping customers keep purchased products in good working order.

answer

maintenance and repair

question

various groups of customers.

answer

market

question

identifying all the potential buyers in each market and estimating their potential purchases.

answer

market-buildup method

question

companies that are organized along market lines.

answer

market-centered organizations

question

the total volume of a product that would be bought by a defined customer group in a defined geographical area in a defined time period in a defined marketing environment under a defined marketing program.

answer

market demand

question

the market demand corresponding to the level of industry marketing expenditure.

answer

market forecast

question

planning the infrastructure to meet demand, then implementing and controlling the physical flows or materials and final goods from points of origin to points of use, to meet customer requirements at a profit.

answer

market logistics

question

a market manager supervising several market-development managers, market specialists, or industry specialists and draw on functional services as needed.

answer

market-management organization

question

system used to determine the attractiveness and probability of success.

answer

market opportunity analysis (MOA)

question

the process of investigating the hierarchy of attributes consumers examine in choosing a brand if they use phased decision strategies.

answer

market partitioning

question

a comparison of the current level of market demand to the potential demand level.

answer

market penetration index

question

pricing strategy where prices start low to drive higher sales volume from price-sensitive customers and produce productivity gains.

answer

market-penetration pricing

question

the limit approached by market demand as industry marketing expenditures approach infinity for a given marketing environment.

answer

market potential

question

a higher level of selective demand for a product.

answer

market share

question

pricing strategy where prices start high and are slowly lowered over time to maximize profits from less price-sensitive customers.

answer

market-skimming pricing

question

someone who seeks a response (attention, a purchase, a vote, a donation) from another party, called the prospect.

answer

marketer

question

the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

answer

marketing

question

a comprehensive, systematic, independent, and periodic examination of a company's or business unit's marketing environment, objectives, strategies, and activities.

answer

marketing audit

question

the particular set of marketing channels employed by a firm.

answer

marketing channel system

question

sets of interdependent organizations involved in the process of making a product or service available for use or consumption.

answer

marketing channels

question

the means by which firms attempt to inform, persuade, and remind consumers—directly or indirectly—about products and brands that they sell.

answer

marketing communications

question

advertising, sales promotion, events and experiences, public relations and publicity, direct marketing, and personal selling.

answer

marketing communications mix

question

is to find not the right customers for your products, but the right products for your customers

answer

marketing concept

question

a coordinated collection of data, systems, tools, and techniques with supporting software and hardware by which an organization gathers and interprets relevant information from business and the environment and turns it into a basis for marketing action.

answer

marketing decision support system (MDSS)

question

identifies the percentage of the potential target market at each stage in the decision process, from merely aware to highly loyal.

answer

marketing funnel

question

the process that turns marketing plans into action assignments and ensures that such assignments are executed in a manner that accomplishes the plan's stated objectives.

answer

marketing implementation

question

people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute information to marketing decision makers.

answer

marketing information system (MIS)

question

diagnostic information about how and why we observe certain effects in the marketplace, and what that means to marketers.

answer

marketing insights

question

a set of procedures and sources managers use to obtain everyday information about developments in the marketing environment.

answer

marketing intelligence system

question

the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.

answer

marketing management

question

the set of measures that helps firms to quantify, compare, and interpret their marketing performance.

answer

marketing metrics

question

the company and its supporting stakeholders, with whom it has built mutually profitable business relationships.

answer

marketing network

question

an area of buyer need and interest in which there is a high probability that a company can profitably satisfy that need.

answer

marketing opportunity

question

written document that summarizes what the marketer has learned about the marketplace, indicates how the firm plans to reach its marketing objectives, and helps direct and coordinate the marketing effort.

answer

marketing plan

question

publicity and other activities that build corporate or product image to facilitate marketing goals.

answer

marketing public relations (MPR)

question

the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company.

answer

marketing research

question

pricing an item by adding a standard increase to the product's cost.

answer

markup

question

the ability of a company to meet each customer's requirements

answer

mass customization

question

situation in which the parent brand is already associated with multiple products through brand extensions.

answer

master brand

question

goods that enter the manufacturer's product completely.

answer

materials and parts

question

finding the most cost-effective media to deliver the desired number and type of exposures to the target audience.

answer

media selection

question

large social, economic, political, and technological changes that are slow to form, and once in place, have an influence for seven to ten years or longer.

answer

megatrends

question

groups having a direct influence on a person.

answer

membership groups

question

how and where information gets into memory.

answer

memory encoding

question

how and from where information gets out of memory.

answer

memory retrieval

question

the manner by which consumers code, categorize, and evaluate financial outcomes of choices.

answer

mental accounting

question

examination of specific products and territories that fail to produce expected sales.

answer

microsales analysis

question

a limited area on the Web managed and paid for by an external advertiser/company.

answer

microsite

question

statements that organizations develop to share with managers, employees, and (in many cases) customers.

answer

mission statements

question

the seller offers goods both individually and in bundles.

answer

mixed bundling

question

a need aroused to a sufficient level of intensity to drive us to act.

answer

motive

question

a single firm uses two or more marketing channels to reach one or more customer segments.

answer

multichannel marketing

question

doing two or more things at the same time.

answer

multitasking

question

...

answer

N

question

consumers who dislike the product and may even pay to avoid it.

answer

negative demand

question

analysis that encompasses company list price, average discount, promotional spending, and co-op advertising to arrive at net price.

answer

net price analysis

question

in consumer choice, when consumers do not simultaneously consider all positive and negative attribute considerations in making a decision.

answer

noncompensatory models

question

consumers who may be unaware of or uninterested in the product.

answer

nonexistent demand

question

...

answer

O

question

the person in informal, product-related communications who offers advice or information about a specific product or product category.

answer

opinion leader

question

how easy it is for the customer to place an order with the company.

answer

ordering ease

question

a company's structures, policies, and corporate culture.

answer

organization

question

the decision-making process by which formal organizations establish the need for purchased products and services and identify, evaluate, and choose among alternative brands and suppliers.

answer

organizational buying

question

the company's sales expressed as a percentage of total market sales.

answer

overall market share

question

more consumers would like to buy the product than can be satisfied.

answer

overfull demand

question

...

answer

P

question

all the activities of designing and producing the container for a product.

answer

packaging

question

marketers bid on search terms, when a consumer searches for those words using Google, Yahoo!, or Bing, the marketer's ad will appear on the results page, and advertisers pay only if people click on links.

answer

paid search

question

an existing brand that gives birth to a brand extension.

answer

parent brand

question

activities the firm undertakes to build mutually satisfying long-term relations with key partners such as suppliers, distributors, ad agencies, and marketing research suppliers.

answer

partner relationship management (PRM)

question

see paid search.

answer

pay-per-click ads

question

the set of consumers who are buying a company's product.

answer

penetrated market

question

the value promised by the company's value proposition and perceived by the customer.

answer

perceived value

question

the process by which an individual selects, organizes, and interprets information inputs to create a meaningful picture of the world.

answer

perception

question

understanding the financial and nonfinancial returns to business and society from marketing activities and programs.

answer

performance marketing

question

the level at which the product's primary characteristics operate.

answer

performance quality

question

two or more persons communicating directly face-to-face, person-to-audience, over the telephone, or through e-mail.

answer

personal communications channels

question

the effect one person has on another's attitude or purchase probability.

answer

personal influence

question

a set of distinguishing human psychological traits that lead to relatively consistent responses to environmental stimuli.

answer

personality

question

ads that appear outside of home and where consumers work and play.

answer

place advertising (also out-of-home advertising)

question

the location where a purchase is made, typically thought of in terms of a retail setting.

answer

point-of-purchase (P-O-P)

question

attributes or benefits that consumers strongly associate with a brand, positively evaluate, and believe they could not find to the same extent with a competitive brand.

answer

points-of-difference (PODs)

question

attribute or benefit associations that are not necessarily unique to the brand but may in fact be shared with other brands.

answer

points-of-parity (POPs)

question

the act of designing a company's offering and image to occupy a distinctive place in the minds of the target market.

answer

positioning

question

the set of consumers who profess a sufficient level of interest in a market offer.

answer

potential market

question

all the possible augmentations and transformations the product or offering might undergo in the future.

answer

potential product

question

a company sells a product or service at two or more prices that do not reflect a proportional difference in costs.

answer

price discrimination

question

an increase in the price of a product due to added costs of selling it in different countries.

answer

price escalation

question

groups with which a person interacts continuously and informally, such as family, friends, neighbors, and coworkers.

answer

primary groups

question

psychological mechanism that states that consumers like to see seemingly related objects as being as similar as possible in their favorability.

answer

principle of congruity

question

brands that retailers and wholesalers develop and market.

answer

private label brand

question

anything that can be offered to a market to satisfy a want or need, including physical goods, services, experiences, events, person, places, properties, organizations, information, and ideas.

answer

product

question

altering the product to meet local conditions or preferences.

answer

product adaptation

question

the set of all products and items a particular seller offers for sale.

answer

product assortment

question

proposes that consumers favor products offering the most quality, performance, or innovative features.

answer

product concept

question

creating something new via product development or other means.

answer

product invention

question

competitors' items that are competing against company X's items.

answer

product map

question

see product assortment.

answer

product mix

question

the firm searches for a set of prices that maximizes profits on the total mix.

answer

product-mix pricing

question

the percentage of ownership or use of a product or service in a population.

answer

product-penetration percentage

question

a group of diverse but related items that function in a compatible manner.

answer

product system

question

holds that consumers prefer products that are widely available and inexpensive.

answer

production concept

question

a person, household, or company that over time yields a revenue stream that exceeds by an acceptable amount the company's cost stream of attracting, selling, and servicing that customer.

answer

profitable customer

question

a purchase, a vote, or a donation by a prospective client.

answer

prospect

question

when consumers frame decision alternatives in terms of gains and losses according to a value function.

answer

prospect theory

question

the science of using psychology and demographics to better understand consumers.

answer

psychographics

question

any group that has an actual or potential interest in or impact on a company's ability to achieve its objectives.

answer

public

question

a variety of programs designed to promote or protect a company's image or its individual products.

answer

public relations (PR)

question

the task of securing editorial space—as opposed to paid space—in print and broadcast media to promote something.

answer

publicity

question

when the manufacturer uses advertising and promotion to persuade consumers to ask intermediaries for the product, thus inducing the intermediaries to order it.

answer

pull strategy

question

a scale to measure the probability of a buyer making a particular purchase.

answer

purchase probability scale

question

a firm only offers its products as a bundle.

answer

pure bundling

question

companies that have launched a Web site without any previous existence as a firm.

answer

pure-click

question

when the manufacturer uses its sales force and trade promotion money to induce intermediaries to carry, promote, and sell the product to end users.

answer

push strategy

question

...

answer

Q

question

the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs.

answer

quality

question

a set of questions presented to respondents.

answer

questionnaire

question

...

answer

R

question

all the groups that have a direct or indirect influence on a person's attitudes or behavior.

answer

reference groups

question

pricing information a consumer retains in memory that is used to interpret and evaluate a new price.

answer

reference prices

question

building mutually satisfying long-term relationships with key parties, in order to earn and retain their business.

answer

relationship marketing

question

market share in relation to a company's largest competitor.

answer

relative market share

question

a measure of the probability that a product will not malfunction or fail within a specified time period.

answer

reliability

question

a measure of the ease of fixing a product when it malfunctions or fails.

answer

repairability

question

when consumers base their predictions on how representative or similar an outcome is to other examples.

answer

representativeness heuristic

question

any business enterprise whose sales volume comes primarily from retailing.

answer

retailer (or retail store)

question

all the activities in selling goods or services directly to final consumers for personal, nonbusiness use.

answer

retailing

question

a method by which possible rates of returns and their probabilities are calculated by obtaining estimates for uncertain variables affecting profitability.

answer

risk analysis

question

the activities a person is expected to perform.

answer

role

question

...

answer

S

question

measuring and evaluating actual sales in relation to goals.

answer

sales analysis

question

a conservative estimate of the expected volume of sales, used for making current purchasing, production, and cash flow decisions.

answer

sales budget

question

a collection of incentive tools, mostly short term, designed to stimulate quicker or greater purchase of particular products or services by consumers or the trade.

answer

sales promotion

question

the sales goal set for a product line, company division, or sales representative.

answer

sales quota

question

a measure of the relative contribution of different factors to a gap in sales performance.

answer

sales-variance analysis

question

a person's feelings of pleasure or disappointment resulting from comparing a product's perceived performance or outcome in relation to his or her expectations.

answer

satisfaction

question

developing plausible representations of a firm's possible future that make different assumptions about forces driving the market and include different uncertainties.

answer

scenario analysis

question

groups that tend to be more formal and require less interaction than primary groups, such as religious, professional, and trade-union groups.

answer

secondary groups

question

the mental process of screening out certain stimuli while noticing others.

answer

selective attention

question

the tendency to interpret product information in a way that fits consumer perceptions.

answer

selective distortion

question

the use of more than a few but less than all of the intermediaries who are willing to carry a particular product.

answer

selective distribution

question

good points about a product that consumers like are remembered and good points about competing products are forgotten.

answer

selective retention

question

holds that consumers and businesses, if left alone, won't buy enough of the organization's products.

answer

selling concept

question

all the buyers who are able and willing to buy a company's product.

answer

served market

question

a company's sales expressed as a percentage of the total sales to its served market.

answer

served market share

question

any act or performance that one party can offer to another that is essentially intangible and does not result in the ownership of anything.

answer

service

question

a comparison of a company's current market share to its potential market share.

answer

share penetration index

question

goods that the consumer, in the process of selection and purchase, characteristically compares on such bases as suitability, quality, price, and style.

answer

shopping goods

question

a temporary repository of information.

answer

short-term memory (STM)

question

homogeneous and enduring divisions in a society, which are hierarchically ordered and whose members share similar values, interests, and behavior.

answer

social classes

question

marketing done by a nonprofit or government organization to further a cause, such as "say no to drugs."

answer

social marketing

question

goods with unique characteristics or brand identification for which enough buyers are willing to make a special purchasing effort.

answer

specialty goods

question

financial support of an event or activity in return for recognition and acknowledgment as the sponsor.

answer

sponsorship

question

a measure to track the satisfaction of various constituencies who have a critical interest in and impact on the company's performance.

answer

stakeholder-performance scorecard

question

one's position within his or her own hierarchy or culture.

answer

status

question

introducing a product in a foreign market without any change in the product.

answer

straight extension

question

the design and implementation of marketing activities and programs to build, measure, and manage brands to maximize their value.

answer

strategic brand management

question

a single business or collection of related businesses that can be planned separately from the rest of the company, with its own set of competitors and a manager who is responsible for strategic planning and profit performance.

answer

strategic business units (SBUs)

question

firms pursuing the same strategy directed to the same target market.

answer

strategic group

question

playing out the target markets and the value proposition that will be offered, based on analysis of the best market opportunities.

answer

strategic marketing plan

question

a company's game plan for achieving its goals.

answer

strategy

question

a product's look and feel to the buyer.

answer

style

question

a new brand combined with an existing brand.

answer

sub-brand

question

subdivisions of a culture that provide more specific identification and socialization, such as nationalities, religions, racial groups, and geographical regions.

answer

subculture

question

receiving and processing subconscious messages that affect behavior.

answer

subliminal perception

question

a set of segments sharing some exploitable similarity.

answer

supersegment

question

short-term goods and services that facilitate developing or managing the finished product.

answer

supplies and business services

question

procuring the right inputs (raw materials, components, and capital equipment), converting them efficiently into finished products, and dispatching them to the final destinations.

answer

supply chain management (SCM)

question

approximating the amount of time or space devoted to media coverage of an event, for example, the number of seconds the brand is clearly visible on a television screen or the column inches of press clippings that mention it.

answer

supply-side methods

question

...

answer

T

question

marketing tactics, including product features, promotion, merchandising, pricing, sales channels, and service.

answer

tactical marketing plan

question

deducting the desired profit margin from the price at which a product will sell, given its appeal and competitors' prices.

answer

target costing

question

the part of the qualified available market the company decides to pursue.

answer

target market

question

determining the price that would yield the firm's target rate of return on investment (ROI).

answer

target-return pricing

question

the use of telephone and call centers to attract prospects, sell to existing customers, and provide service by taking orders and answering questions.

answer

telemarketing

question

the sum of the fixed and variable costs for any given level of production.

answer

total costs

question

the perceived monetary value of the bundle of economic, functional, and psychological benefits customers expect from a given market offering because of the product, service, people, and image.

answer

total customer benefit

question

the bundle of costs customers expect to incur in evaluating, obtaining, using, and disposing of the given market offering, including monetary, time, energy, and psychic costs.

answer

total customer cost

question

the perceived monetary value of the bundle of economic, functional, and psychological benefits customers expect from a given market offering.

answer

total customer value

question

the maximum sales available to all firms in an industry during a given period, under a given level of industry marketing effort and environmental conditions.

answer

total market potential

question

an organization-wide approach to continuously improving the quality of all the organization's processes, products, and services.

answer

total quality management

question

collecting information from consumers on a routine basis over time.

answer

tracking studies

question

a trade of values between two or more parties: A gives X to B and receives Y in return.

answer

transaction

question

in the case of gifts, subsidies, and charitable contributions: A gives X to B but does not receive anything tangible in return.

answer

transfer

question

the price a company charges another unit in the company for goods it ships to foreign subsidiaries.

answer

transfer price

question

elaborates on a nonproduct-related benefit or image.

answer

transformational appeal

question

a direction or sequence of events that has some momentum and durability.

answer

trend

question

a fixed fee plus a variable usage fee.

answer

two-part pricing

question

agreement in which producers of strong brands sell their products to dealers only if dealers purchase related products or services, such as other products in the brand line.

answer

tying agreements

question

...

answer

U

question

those the consumer does not know about or does not normally think of buying, like smoke detectors.

answer

unsought goods

question

consumers may be attracted to products that have undesirable social consequences.

answer

unwholesome demand

question

...

answer

V

question

a tool for identifying ways to create more customer value.

answer

value chain

question

a company's supply chain and how it partners with specific suppliers and distributors to make products and bring them to markets.

answer

value-delivery network (supply chain)

question

all the expectancies the customer will have on the way to obtaining and using the offering.

answer

value-delivery system

question

a system of partnerships and alliances that a firm creates to source, augment, and deliver its offerings.

answer

value network

question

winning loyal customers by charging a fairly low price for a high-quality offering.

answer

value pricing

question

the whole cluster of benefits the company promises to deliver.

answer

value proposition

question

costs that vary directly with the level of production.

answer

variable costs

question

a cross-functional group charged with developing a specific product or business.

answer

venture team

question

situation in which manufacturers try to control or own their suppliers, distributors, or other intermediaries.

answer

vertical integration

question

producer, wholesaler(s), and retailer(s) acting as a unified system.

answer

vertical marketing system (VMS)

question

using the Internet to create word-of-mouth effects to support marketing efforts and goals.

answer

viral marketing

question

...

answer

W

question

formal statements of expected product performance by the manufacturer.

answer

warranties

question

all the activities in selling goods or services to those who buy for resale or business use.

answer

wholesaling

question

...

answer

Y

question

situation in which companies offer (1) discounted but limited early purchases, (2) higher-priced late purchases, and (3) the lowest rates on unsold inventory just before it expires.

answer

yield pricing

question

...

answer

Z

question

a manufacturer selling directly to the final customer.

answer

zero-level channel (direct-marketing channel)

ASC1 Marketing Management Concept Terms – Flashcards

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