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abc marketing

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80 20 principle
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principle holding that 20 percent of all customers generate 80 percent of the demand
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accessory equipment
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goods, such as portable tools and office equipment, that are less expensive and shorter lived than major equipment
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aspirational reference group
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a group that someone would like to join
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attitude
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a learned tendency to respond consistently toward a given object
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behavioral targeting
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a form of observation marketing research that uses data mining coupled with identifying Web surfers by their IP addresses
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BehaviorScan
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a scanner-based research program that tracks the purchases of 3,
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households through store scanners in each research market
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belief
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an organized pattern of knowledge that an individual holds as true about his or her world
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benefit segmentation
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the process of grouping customers into market segments according to the benefits they seek from the product
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busienss servies
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expense items that do not become part of a final product
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business marketing
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marketing of goods and services to individuals and organizations for purposes other than personal consumption
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business to business electronic commerce
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the use of the internet to facilitate the exchange of goods, services, and information between organizations
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business to business online exchange
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electronic trading floor that provides companies with integrated links to their customers and suppliers
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buying center
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all those people in an organization who become involved in the purchase decision
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cannibalization
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a situation that occurs when sales of a new product cut into sales of a firm’s existing products
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central-location telephone (CLT) facility
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a specially designed phone room used to conduct telephone interviewing
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closed-ended question
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Interview question that asks the respondent to make a selection from a limited list of responses
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cognitive dissonance
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inner tension that a consumer experiences after recognizing an inconsistency between behavior and values or options
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competitive intelligence
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an intelligence system that helps managers assess their competition and vendors in order to become more efficient and effective competitors
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component parts
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either finished items ready for assembly or products that need very little processing before becoming part of some other product
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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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concentrated targeting strategy
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strategy used to select one segment of a market for targeting marketing efforts
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consumer behavior
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processes a consumer uses to make purchase decisions, as well as to use and dispose of purchased goods or services; also includes factors that influence purchase decisions and product use
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consumer decision making process
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five step process used by consumers when buying goods or services
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consumer-generated media
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media that consumers generate and share among themselves
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convenience sample
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a form of nonprobability sample using respondents who are convenient or readily accessible to the researcher—for example, employees, friends, or relatives
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cross-tabulation
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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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culture
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set of values, norms, attitudes,a nd other meaningful symbols that shape human behavior and the artifacts, or products, of that behavior as they are transmitted from one generation tot he next
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database marketing
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the creation of a large computerized file of customers’ and potential customers’ profiles and purchase patterns
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decision support system
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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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demographic segmentation
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segmenting markets by age, gender, income, ethnic background, and family life cycle
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derived demand
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the demand for business products
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disintermediation
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the elimination of intermediaries such as wholesalers or distributors from a marketing channel
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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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evoked set
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a group of brands, resulting from an information search, from which a buyer can choose
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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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experiment
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a method a researcher uses to gather primary data
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extensive decision making
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the most complex type of consumer decision making, used when buying an unfamiliar, expensive product or an infrequently bought item; requires use of several criteria for evaluating options and much time for seeking information
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external information search
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the process of seekng information in the outside environment
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family life cycle
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series of stages determined by a combination of age, marital status, and the presence or absence of children
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field service firm
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firm that specializes in interviewing respondents on a subcontracted basis
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focus group
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seven to ten people who participate in a group discussion led by a moderator
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frame error
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error that occurs when a sample drawn from a population differs from the target population
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geodemographic segmentation
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segmenting potential customers into neighborhood lifestyle categories
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geographic segmentation
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segmenting markets by region of a country or the world, market size, market density, or climate
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ideal self image
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the way an individual would like to be
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InfoScan
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scanner-based sales-tracking service for the consumer packaged goods industry
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internal information search
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the process of recalling past information stored in the memory
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involvement
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the amount of time and effort a buyer invest in the search, evaluation, and decision processes of consumer behavior
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joint demand
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the demand for two or more items used together in a final product
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keiretsu
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network of interlocking corporate affiliates (japan)
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learning
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a process that creates changes in behavior, immediate or expected, through experience and practice
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limited decision making
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the type of decision making that requires a moderate amount of time for gathering information and and deliberating about an unfamiliar brand in a familiar product category
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major equipment
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capital goods such as large or expensive machines, mainframe computers, blast furnaces, generators, airplanes, and buildings
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mall intercept interview
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survey research method that involves interviewing people in the common areas of shopping malls
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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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market segment
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a subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs
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market segmentation
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the process of dividing a market into meaningful, relatively similar, and identifiable segments or groups
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market
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people or organizations with needs or wants and the ability and willingness to buy
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marketing controlled information source
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a product information source that originates with marketers promoting the product
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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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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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marketing research objective
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specific information needed to solve a marketing research problem; the objective should be to provide insightful decision-making information
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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
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the process of planning, collecting, and analyzing data relevant to a marketing decision
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maslows hierarchy of needs
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a method of classifying human needs and motivations into five categories in ascending order of importance: physiological, safety, social, esteem, and self-actualization
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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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modified rebuy
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a situation in which the purchaser wants some change in the original good or service
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motive
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driving force that causes a person to take action to satisfy specific needs
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multiplier effect
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phenomenon in which a small increase or decrease in consumer demand can produce a much larger change in demand for the facilities and equipment needed to make the consumer product
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multisegment targeting strategy
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strategy that chooses two or more well defined market segments and develops a distinct marking mix for each
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mystery shoppers
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researchers posing as customers who gather observational data about a store
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need recognition
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1st step of consumer decision making process
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need recognition
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result of an imbalance between actual and desired states
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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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new buy
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a situation requiring the purchase of a product for the first time
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niche
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one segment of a market
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nonaspirational reference group
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a group with which an individual does not want to associate
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nonmarketing controlled information source
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a product information source that is not associated with advertising or promotion
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nonprobability 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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norm
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a value or attitude deemed acceptable by a group
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north american industry classification system
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detailed numbering system developed by the united states, canada and mexico to classify north american business establishments by their main production processes
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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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one to one marketing
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individualized marketing method that utilizes customer informaiton to build long term personalized and profiable relationships with each customer
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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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opinion leader
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individual who influences the opinions of others
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optimizers
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business customers who consider numerous suppliers, solicit bids, and study all proposals carefully before selecting one
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original equipment manufacturers
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individuals and organizations that buy business goods and incorporate them into the products they produce for eventual sale to other producers or to consumers
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perception
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the process by which people select, organize, and interpret stimuli into a meaningful and coherent picture
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perceptual mapping
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a means of displaying or graphing, in two or more dimensions, the location of products, brand, or groups of products in the customers’ minds
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personality
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a way of organizing and grouping the consistencies of an individual’s reactions to situations
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position
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the place a product, brand or group of products occupies in consumer’s mind relative to competing offerings
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positioning
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developing a specific marketing mix to influence potential customers’ overal perception of a brand, product line, or organization in general
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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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primary membership group
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a reference group with which people interact regularly in an informal, face to face manner, such as family, friends, and coworkers
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probability sample
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sample in which every element in the population has a known statistical likelihood of being selected
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processed materials
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products used directly in manufacturing other products
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product differentiation
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positioning strategy that some firms use to distinguish their products from those of competitors
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psychographic segmentation
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market segmentation of the basis of personality, motives, lifestyles, and geodemographics
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random error
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error that occurs when the selected sample is an imperfect representation of the overall population
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random sample
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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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raw materials
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unprocessed extractive or agricultural products, such as mineral ore, lumber, wheat, corn, fruits, vegetables, and fish
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real self image
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the way an individual actually perceives himself or herself
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reciprocity
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practice where business purchasers choose to buy from their own customers
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reference group
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a group in society that influences an individual’s purchasing behavior
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reintermediation
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the reintroduction of an intermediary betwen producers and user
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relationship commitment
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a firm’s belief that an ongoing relationship with another firm is so important that the relationship warrants maximum efforts at maintaining it indefinitely
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repositioning
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changing consumers’ perceptions of a brand in relation to competing brands
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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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routine response behavior
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the type of decision making exhibited by consumers buying frequently purchased, low-cost goods and services; requires little search and decision time
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sample
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subset from a larger population
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sampling error
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error that occurs when a sample somehow does not represent the target population
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satisficers
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business customers who place an order with the first familiar supplier to satisfy product and delivery requirements
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scaled-response question
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closed-ended question designed to measure the intensity of a respondent’s answer
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scanner-based research
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system for gathering information from a single group of respondents by continuously monitoring the advertising, promotion, and pricing they are exposed to and the things they buy
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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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secondary membership group
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a reference group with which people associate less constistently and more formally than a primary membership group, such as a club, professional group, or religious group
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segmentation bases
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characteristics of individuals, groups, or organizations
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selective distortion
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process whereby a consumer changes or distorts information that conflicts with his or her feeling or beliefs
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selective exposure
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the process whereby a consumer notices certain stimuli and ignores others
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self-concept
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how consumers perceive themselves in terms of attitudes, perceptions, beliefs,a nd self-evaluations
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social class
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a group of people in a society who are considered nearly equal in status or community esteem, who regularly socialize among themselves both formally and informally, and who share behavioral norms
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socialization process
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how cultural values and norms are passed down to children
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stickiness
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a measure of a website’s effectiveness; calculated by multiplying the frequency of visits by the duration of a visit by the number of pages viewed during each visit
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stimulus generalization
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a form of learning that occurs when one response is extended to a second stimulus similar to the first
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stimulus
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any unit of input affecting one or more of the five senses:sight, smell, taste, touch hearing
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straight rebuy
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situation in which the purchaser reorders the same goods or services without looking for new information or investigating other suppliers
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strategic alliance
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a cooperative agreement between business fierms
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subculture
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a homogeneous group of people who share elements of the overall culture as well as unique elements of their own group
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supplies
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consumable items that do not become part of the final product
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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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target market
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group of people or organizations for which an organization designs, implements, and maintains a marketing mix intended to meet the needs of the group, resulting in mutually satisfying exchanges
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trust
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the condition that exist when one party has confidence in an exchange partner’s reliability and integrity
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undifferentiated targeting strategy
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marketing approach that views the market as one big market with no individual segments and thus uses a single marketing mix
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universe
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population from which a sample will be drawn
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usage rate segmentation
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dividing a market by the amount of product bought or consumed
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value
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the enduring belief that a specific mod of conduct is personally or socially preferable to another mode of conduct
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want
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recognition of an unfulfilled need and a product that will satisfy it