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Advertising

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Any form of paid non personal communication used by an identified sponsor to persuade of inform potential buyers about a product.

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Behavioral Segmentation

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A Segmentation strategy that uses behavioral variables to identify different market segments.

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Behavioral Variables

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Behavioral patterns displayed by groups of consumers and that are used in developing a segmentation strategy.

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Brand Competition

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Competitive marketing that appeals to consumer perceptions of benefits of products offered by particular companies.

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Brand Loyalty

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Pattern of repeated consumer purchasing based on satisfaction with a product's performance.

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Competitive Environment

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The Competitive system in which businesses compete.

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Consumer Behavior

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Study if the decision process by which people buy and consume products.

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Consumer Goods

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Physical products purchased by consumers for personal use.

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Corporate Blogs

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Comments and opinions published on the Web by or for an organization to promote its activities.

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Cultural Influences

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Include culture, subculture, and social class influences that marketers use to study buying behavior.

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Customer Relationship Management (CRM)

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Organized methods that a firm uses to build better information connections with clients, so that stronger company-client relationships are developed.

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Data Mining

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The application of electronic technologies of searching, sifting, and reorganizing pools of data to uncover useful information.

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Data Warehousing

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The Collection, storage, and retrieval of data in electronic files.

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Demographic Segmentation

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A segmentation strategy that uses demographic characteristics to identify different market segments.

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Demographic Variables

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Characteristics of populations that may b considered in developing a segmentation strategy.

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Economic Environment

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Relevant conditions that exist in the economic system in which a company operates.

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Emotional Motives

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Reasons for purchasing a product that are based on nonobjective factors.

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Evoked set (or consideration set)

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Group of products consumers will consider buying as a result of information search.

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Experimentation

answer

research method using a sample of potential consumers to obtain reactions to test versions of new products or variations of existing products.

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Focus Group

answer

research method using a group of people from a larger population who are asked their attitudes, opinions, and beliefs about a product in an open discussion.

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Form Utility

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Providing products with features that customers want.

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Geographic Segmentation

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Geo-graphic units, from countries to neighborhoods, that may be considered in identifying different market segments sin a segmentation strategy.

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Geographic Variables

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Geographic units that may be considered in developing a segmentation strategy.

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Geo-Demographic Segmentation

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using a combination of geographic and demographic traits for identifying different market segments in a segmentation strategy.

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Geo-Demographic Variables

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Combination of geographic and demographic traits used in developing a segmentation strategy.

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Industrial Goods

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Physical products purchased by companies to produce other products.

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Industrial Market

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Organizational market consisting of firms that buy goods that are either converted into products or used during production.

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Institutional Market

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Organizational market consisting of such nongovernmental buyers of goods and services as hospitals, churches, museums, and charitable organizations.

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Integrated Marketing Strategy

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Strategy that blends together the Four Ps of marketing to ensure their compatibility with one another and with the company's non marketing actives as well.

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International Competition

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Competitive marketing of domestic products against foreign products.

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Market Segmentation

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Process of dividing a market into categories of curser types, or "segments" having similar wants and needs and who can be expected to show interest in the same products.

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Marketing

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Activities, a set of institutions, and processes for creating, communication, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

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Marketing Manager

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Manager who plans and implements the marketing actives that result in the transfer to products from producer to consumer.

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Marketing Mix

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Combination of product, pricing, promotion, and place (distribution) strategies used to market products.

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Marketing Objectives

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The things marketing intends to accomplish in its marketing plan.

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Marketing Plan

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Detailed strategy for focusing marketing efforts on consumers' needs and wants.

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Marketing Research

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The Study of what customers need and want and how best to meet those needs and wants.

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Marketing Strategy

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All the marketing programs and actives that will be used to achieve the marketing goals.

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Observation

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Research method that obtains data by watching and recording consumer behavior.

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Personal Influences

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Include lifestyle, personality, and economic status that marketers use to study buying behavior.

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Personal Selling

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person-to-person sales.

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Place (distribution)

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Part of the marketing mix concerned with getting products from producers to consumers.

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Place Utility

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Providing Products where customers will want them.

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Political-Legal Environment

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The Relationship between business and government, usually in the form of government regulation of business.

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Possession Utility

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Transferring product ownership to customers by setting selling prices, setting terms for customer credit payments, and providing ownership documents.

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Pricing

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Process of determining the best price at which to sell a product.

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Primary Data

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New Data that are collected from newly performed research.

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Product

answer

Good, Service, or idea that is marketed to fill consumers needs and wants.

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Product Differentiation

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Creation of a product feature or product image that differs enough from existing products to attract customers.

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Product Positioning

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Process of fixing, adapting, and communication the nature of a product.

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Promotion

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Aspect of the marketing mix concerned with the most effective techniques for communications information about products.

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Psychographic Segmentation

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a segmentation strategy that uses psychographic characteristics to identify different market segments.

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Psychographic Variables

answer

Consumer characteristics, such as lifestyles, opinions, interests, and attitudes, that may be considered in developing a segmentation strategy.

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Psychological Influences

answer

Include an individual's motivations, perceptions, ability to learn, and attitudes that marketers use to study buying behavior.

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Public Relations

answer

communication effort directed at building goodwill and favorable attitudes in the minds of the public toward the organization and its products.

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Rational Motives

answer

reasons for purchasing a product that are based on a logical evaluation of product attributes.

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Relationship Marketing

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Marketing strategy that emphasizes building lasting relationships with customers and suppliers

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Reseller Market

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Organizational market consisting of intermediaries that buy and resell finished goods.

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Sales Promotions

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Direct inducements such as premiums, coupons, and package inserts to tempt consumers to buy products.

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Secondary Data

answer

Data that are already available from previous research

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Services

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Products having nonphysical features, such as information, expertise, or an activity that can be purchased.

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Services Companies Market

answer

firms engaged in the business of providing services to the purchasing public.

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Social Influences

answer

include family, opinions leaders (people whose opinions are sought by others), and such reference groups as friends, coworkers, and professional associates that marketers use to study buying behavior.

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Social Networking

answer

network of communications that flow among people and organizations interacting through an online platform.

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Social Networking Media

answer

Websites or access channels, such as Facebook, Twitter, Linkedin, and Youtube, to which consumers go for information and discussions.

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Sociocultural Environment

answer

The customs, mores, values, and demographic characteristics of the society in which an organization functions.

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Substitute Product

answer

Product that is dissimilar form those of competitors, but that can fulfill the same need.

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Surveys

answer

research method of collecting consumer data using questionnaires, telephone calls, and face-to-face interviews.

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Technological Environment

answer

All the ways by which firms create value for their constituents.

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Time Utility

answer

Providing products when customers will want them.

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Target Market

answer

The particular group of people or organizations on which a firm's marketing effort are focused.

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Utility

answer

Ability of a product to satisfy a human want or need.

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Value

answer

Relative Comparison of a product's benefits vs. its costs.

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Viral Marketing

answer

Type of marketing that relies on the Internet to spread information like a "virus" from person to person about products and ideas.

Business Essentials 10th Edition -Ebert|Griffin Chapter 11 Vocab – Flashcards

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