Marketing chapter 4, 5, & 6 terms – Flashcards
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Customer insights
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Fresh understandings of customers and the marketplace derived from marketing information
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Marketing information system
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People and procedures dedicated to assessing information needs
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Internal databases
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Electronic collections of consumer and Market information
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Competitive marketing intelligence
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The systematic collection and Analysis of publicly available information about consumers competitors and developments in the marketing environment
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Marketing research
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The systematic design collection analysis and reporting of data relevant to specific marketing situation facing an organization
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Exploratory research
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Marketing research to gather preliminary information that will help Define problems and suggest hypotheses
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Descriptive research
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marketing research to better describe marketing problem situations or
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Casual research
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Marketing research the test hypotheses about cause and effect relationships
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Secondary data
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Information that already exists somewhere having been collected for another purpose
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Primary data
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Information collected for the specific purpose at hand
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Observational research
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Gathering primary data by observing relevant people actions and situations
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Ethnographic research
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a form of observational research that involves sending trained observers to watch and interact with consumers in their natural environments
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Survey research
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Gathering primary data by asking people questions about their knowledge attitudes preferences and buying Behavior
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Experimental research
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Gathering primary data by selecting match groups of subjects giving them different treatments controlling related factors and checking for differences in group responses
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Focus group interview
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Personal interviewing that involves inviting 6 to 10 people together for a few hours for the train interviewer to talk about a product or service
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Online marketing research
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Collecting primary data online through internet service
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Online focus groups
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Gathering a small group of people online with a train moderator to talk about a product
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Behavioral targeting
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Using online consumer tracking data to Target advertisements in marketing offers to specific consumers
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Sample
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A segment of the population selected for marketing research to represent the population as a whole
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Customer relationship management
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Managing detailed information about individual customers and carefully managing customer touch points to maximize customer loyalty
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Consumer buyer Behavior
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The buying behavior of final consumers
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Consumer Market
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All the individuals and households that buyer acquire goods and services
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Culture
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The set of basic values perceptions once and behaviors learned by a member of society
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Subculture
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A group of people with shared value systems based on common Life Experiences
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Cross-cultural
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Including up nicknames and cross cultural perspectives with the name brands mainstream
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Social class
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Relatively permanent and ordered divisions in a society whose members share similar values interests and behaviors
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Group
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Two or more people who interact to accomplish individual or Mutual goals
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Word of mouth influence
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Impact of personal words and recommendations of trusted friends Associates and other consumers on buying Behavior
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Opinion leader
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The person within a reference group who because of special skills knowledge and personality or other characteristics exert social influence on others
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Online social networks
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Online social communities
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Lifestyle
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A person's pattern of living as expressed in his or her activities interest and opinions
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Personality
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The unique psychological characteristics that distinguish a person or group
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Motive
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I need that is sufficiently pressing to direct the person to seek satisfaction of the
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Perception
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The process by which people select organize and interpret information to form a meaningful picture of the world
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Learning
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Changes in an individual's Behavior arising from
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Belief
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A descriptive thought that a person holds about
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Attitude
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A person's consistently favorable or unfavorable evaluations feelings and tendencies
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Cognitive dissonance
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Buyer discomfort caused by post-purchase conflict
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New product
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A good service or idea that is perceived by some potential customers as new
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Adoption process
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The mental process through which an individual passes from first hearing about an innovation to final adoption
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Business buyer Behavior
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Divine behavioral organizations that buy goods and services for you some production of other products and
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Business buying process
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The decision process by which business buyers determine which products and services are organizations need to purchase
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Derived demand
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Business demand that ultimately comes from the demand for consumer goods
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Supplier Development
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Systematic development of networks of supplier Partners to ensure an appropriate independable supply of
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Straight rebuy
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Hey business buying situation in which the buyer routinely reorders something without
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New task
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A business buying situation which the buyer purchase of a product or service for the first
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Systems selling Solutions
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Buy a package solution to a problem with a single seller
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Buying Center
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All the individuals in the units that play a role in the purchase decision making process
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Product value analysis
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Carefully analyze any products or services compendious to determine if they can be
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E-procurement
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Purchasing through electronic connections between buyers and sellers usually online
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Market segmentation
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Dividing a market into smaller segments of
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Market targeting
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Evaluating each market segment attractiveness and selecting one or more
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Differentiation
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Differentiating the market offering to create Superior customer value
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Positioning
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Arranging for a market offering to occupy clear distinctive and desirable Place relative competing products in the minds of Target consumers (think brain)
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Geographic segmentation
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Dividing a market into different geographical units
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Demographic segmentation
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Dividing a market into segments based on variables such as age gender and
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Age and life cycle segmentation
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Dividing a market into different age and lifecycle groups
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Gender segmentation
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Dividing the market into segments based on gender
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Income segmentation
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Dividing a market into different income
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Psychographic segmentation
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Dividing a market into different segments based on social class lifestyle personality characteristics
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Behavioral segmentation
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Dividing a market into segments based on consumer knowledge attitude uses of a product or responses to
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Occasion segmentation
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Dividing a market into segments according to occasions when buyers get the idea
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Benefit segmentation
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Dividing the market into segments according to the different benefits that consumers seek from a product
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InterMarket segmentation
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Forming segments of consumers who have similar needs and buying behaviors
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Target Market
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A set of buyers sharing common needs or characteristics of the company decides to serve
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Undifferentiated marketing
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A market coverage strategy in which a firm decides to ignore Market segment differences
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Differentiated marketing
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A market coverage strategy in which a person besides Target several market segments
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Concentrated marketing
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A market coverage strategy in which a friend goes after a large share of one or a few segments 1 inches
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Micro marketing
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Pairing products and marketing programs to the needs and wants of specific individuals
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Local marketing
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Tailoring Brands and marketing to the needs and wants of local customer segments
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Individual marketing
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Pairing products marketing programs to the needs and preferences of individual customers
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Product position
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The way product is defined by consumers or important attributes
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Competitive advantage
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An advantage over competitors gained by offering greater customer value
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Value proposition
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The full positioning of a brand
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Positioning statement
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A statement that summarizes company or brand positioning using a certain form
