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Marketing Management ( Kotler Keller)

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activity based costing
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accounting procedures that can quantify the true profitability of different activities by identifying their actual costs
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adoption
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an individuals decision to become a regular user of a product
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advertising
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any paid form of nonpersonal presentation and promotion of ideas goods or services by an identified sponsor
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advertising objective
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a specific communications task and achievement level to be accomplished with a specific audience in a specific period of time
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anchoring and adjust heuristic
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when consumers arrive at an initial judgment and then make adjustments of their first impressions based on additional information
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arbitration
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to resolve a conflict when two parties agree to present their arguments to one or more arbitrators and accept their decision
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arms length price
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the price charged by other compeitors for the same or similar product
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aspirational groups
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groups a person hopes or would like to join
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associative network memory model
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a conceptual representation that views memory as consiting of a set of nodes and interconnecting links where nodes represent stored information or concepts and link represent the strength of association between this information or concepts
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attitude
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a persons enduring favorable or unfavorable evlaution, emotional feeling and action tendencies toward some object or idea
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augmented product
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a product that includes features that go beyond consumer expectations and differentiate the product from competitors
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available market
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the set of consumers who have interest, income and access to a particular offer
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availability heuristic
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when consumers base their predictions on the quickness and ease with which a particular example of an outcome comes to mind
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average cost
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the cost per unit at a given level or production; it is equal to total cost divided by production
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backward invention
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reintroducing earlier product forms that can be well adapted to a foreign countries needs
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banner ads
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small rectangular boxes containig text and perhaps a picture to support a brand
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basic product
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what specifically the actual product is
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belief
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a descriptive thought that a person holds about something
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brand
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a name, term, sign , symbol or design or a combiantion of them intended to identify the goods or services or one seller or a group of sellers and to differentiate them from those competitors
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brand asset management team
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key representatitves from functions that affect the brands performance
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brand associations
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all brand related thoughts, feelins, perceptions images experiences beliefs attitudes and so on become linked to the brand node
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brand audit
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a consumer focused exercise that involves a series of procedures to assess the health of the brand, uncover its sources or brand equity and suggest ways to imporve and leverage its equity
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Brand community
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a specialized community of consumers and employees whose identification and activities focus around the brand
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brand contact
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any information bearing experience a customer or prospect has with the brand, the product category or the market taht realtes to the marketers product or service
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brand development index
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the index of brand sales to category sales
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brand dilution
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when consumers no longer associate a brand with a specific product or highly similar products or start thinking less favorably of the brand
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brand elements
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those trademarkable devices that serve to identify and differentiate teh brand such as brand name, logo or character
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brand equity
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the added value endowedto products and services
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brand equity drivers
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the 3 main ways you build brand equity through choice of brand elements, marketing programs and activities and leveraging secondary associations
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brand extension
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a companys use of an established brand to introduce a new product
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brand knowledge
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all the thoughts feelings images experiences beliefs and so on that become associated with the brand
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brand line
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all products, original as well as line and category extensions sold under a particular brand name
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brand mix
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the set of all brand lines that a particuar seller makes available to buyers
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brand personality
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the specific mix of human traits taht may be attributed to a particular brand
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brand portfolio
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the set of all brands and brand lines a particular firm offers for sale to buyers
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brand promise
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the marketers vision of what the brand must be and do for cusotmers
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brand tracking studies
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quantitative data collected from consumers over time to provide consistent baseline information about how brands and marketing programs and performing
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brand valuation
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an estimate of the total financial value of the brand
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brand value chain
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a structured approach to assessing the sources and outcomes of brand equity and the manner in which marketing activities create brand value
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branded variants
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specific brand lines uniquely supplied to different retailers or distribution channels
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branding
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endowing products and services with the power of a brand
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branding strategy
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the number and nature of common and distinctive brand elements applied to the different products sold by the firm
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brick and click
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existing companies that have added an online site for information or e commerce
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business database
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complete information about business customers past purchases, past volumes, prices and profits
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business market
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all the organization that acquire goods and services used in the production of other products or services that are sold rented or supplied to others
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capital items
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long lasting goods that facilitate developing or managing the finished product
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captive products
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products that are necessary to the use of other products, such as razor blades or film
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category extension
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using the parent brand to brand a new product outside the product category currently served by the parent brand
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category membership
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the products or sets of products with which a brand competes and that function as close substitutes
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cause related marketing
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marketing that links a firms contributions toa designated cause to customer engaging directly or indirectly in revenue producing transactions with the firm
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channel conflict
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when one channel members actions prevent the channel from achieving its goal
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channel coordination
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when channel members are brought together to advance teh goals of the channel as opposed to their own potentially incompatible goals
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channel power
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the ability to alter channel members actions prevent the channel from achieving its goal
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club membership program
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programs open to everyone who purchases a product or service or limited to an affinity group of those willing to pay a small fee
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co branding
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two or more well knwon brands are combined into a joint product or marketed together in some fashion
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cohorts
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groups of individuals born during hte same time period who travel through life together
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communication adaption
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changing marketing communication programs for each local market
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communication effect research
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determining whether an ad is communicating effectively
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communities of practice
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often housed on internal web sites when employees from different departments are encouraged to share knowledge and skills with others
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company demand
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the companys estimated share of market demand at alternative levels of company marketing effort ina given time period
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company sales forecast
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the expected level of company sales based on a chosen marketing plan and an assumed marketing environment
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company sales potential
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the sales limit approached by company demand as company marketing effort increases relative to that of competitors
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competitive advantage
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a companys ability to perform in one or more ways that competitors cannot or will not match
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competitive frame of reference
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closely linked to target market decision defines which other brands a brand competes with and which should thus be the focus of competitive analysis.
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conformance quality
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the degree to which all the produced units are identical and meet the promised specification
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conjoint analysis
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a method for deriving the utlity values that consumers attach to varying levels of a products attributes
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conjunctive heurisitc
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the consumer sets a minimum acceptable cutoff level for each attribute and chooses the first alternative tha tmeets the minimum standards for all attributes
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consumer adoption process
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the mental steps through which an individual passes from first hearing about an innovation to final adaption
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consumer behavior
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the study of how individuals, group or organizations elect, buy, use and dispose of goods, services, ideas or experiences to satisfy their needs or wants
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consumer involvement
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the level of engagement and active processing undertaken by the consumer in responding to a marketing stimulus
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consumerist movement
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an organized movement of citizens and government to strengthen the rights and powers of buyers in relation to sellers
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containerization
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putting the goods into boxes or trailers that are easy to transfer between two transportation nodes
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contractual sales force
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manufacturers reps sales agents and brokers who are paid a commission based on sales
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convenience goods
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good the consumer purchases frequently immediately and with a minimum of effort
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conventional marketing channel
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an independent producer, wholesaler or retailer
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co optation
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an effort by one organization to win the support of the leaders of another by including them in advisory councils, boards of directors and the like
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core benefit
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the service or benefit the customer is really buying
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core competency
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attribute that is a source of competitive advantage in that it makes a significant contribution to perceived customer benefits has applications in a wide variety of markets and is difficult for competitors to imitate
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core values
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the belief systems that underline consumer attributes and behaveior and that determine peoples choices and desires over the long term
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corporate culture
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the shared experiences, stories, beliefs and norms that characterize an organization
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corporate retailing
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corporately owned retailing outlets that achieve economies of scale, greater purchasing power, wider brand recognition and better trained employees
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Counter trade
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offering other items in payment for purchases
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critical path scheduling
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network planning techniques to coordinate the many tasks in launching a new product
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crowd funding
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individuals or start ups fund their projects by using social media and other means to generate interest and conributions from the general public
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crowd sourcing
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paid or unpaid outsiders who can offer needed expertise or a different perspective on a task or project such as with new product development
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cues
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stimuli that determine when where and how a person responds
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culture
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the fundamental determinant of a persons wants and behavior
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customer based brand equity
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the differential effect that brand knowledge has on a consumer response to the marketing of that brand
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customer chern
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high customer defection
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customer consulting
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data information systems and advice services that the seller offers to buyers
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customer database
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an organized collection of comprehensive information about individual customers or prospects that is current accessible and actionable for marketing purposes
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customer equity
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the sum of lifetime values of all customers
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customer lifetime value
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the net present value of the stream of future profits expected over the customers lifetime purchases
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customer mailing list
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a set of names addresses and telephone numbers
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customer management organization
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deals with individual customers rather than the mass market or even market segments
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customer perceived value
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the difference between the prospective customers evaluation of all the benefits and all the costs of an offering and the perceived alternatives
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customer performance school card
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how well the company is doing year after year on particular customer based measures
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customer profitability analysis
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a means of assessing and ranking customer profitability through accounting techniques such as activity based costing
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customer relationship management
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the process of carefully managing detailed information about individual customers and all customer touch points to maximize customer loyalty
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customer training
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training the customers employees to use the vendors equipment properly and efficiently
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customer value analysis
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report of the company’s strengths and weaknesses relative to various competitors
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customer value hierarchy
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5 product levels that must be addressed by marketers in planning a market offering: core benefit; basic product; expected product; augmented product and potential product
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customer value management
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the analysis of individual data on prospects and customers to develop marketing strategies to acquire and retain customers and drive customer behavior
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countertrade
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offering other items in payment for purchases
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data mining
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the extracting of useful information about individuals trends and segments from the mass of data
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data warehouse
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a collection of current data captured, organized and stored in a companys contact center
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database marketing
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the process of building, maintaining and using customer databases and other databases for the purpose of contacting, transacting and building customer relaitonship
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deep metaphors
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basic frames or orientations that consumer have toward the world around them
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delivery
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how well the product or service is delivered to the customer
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demand chain planning
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the process of designing the supply chain based on adopting a target market perspective and working backwards
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demand side method
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identifying the effect sponsorship has on consumers brand knowledge
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design
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the totality of features that affect how a product looks, feels and functions to a consumer
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destination categories
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product categories that have the greatest impact on where households choose to shop and how they view a particular retailer
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diplomacy
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when each side sends a person or group to meet with its counterpart to resolve a conflict
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direct sales force
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full or part time paid employees who work exclusively for the company
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direct marketing
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the use of consumer direct channels to reach and deliver goods and services to customers without using marketing middle men
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direct order marketing
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marketing in which direct marketers seek a measurable response, typically a customer order
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direct product profitability
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a way of measuring a products handling costs from the time it reaches the warehouse until a customer buys it in the retail store
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discrimination
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the process of recognitzing differences in sets of similar stimuli and adjusting responses accordingly
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display ads
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small rectangular boxes containing text and perhaps a picture to support a brand online
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dissociative group
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those groups whose values or behavior an individual rejects
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distribution programming
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building a planned professional managed vertical marketing system that meets the needs of both manufacturer and distributer
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drive
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a strong internal stimulus impelling action
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dual adaption
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adapting both the product and the communications to the local market
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dumping
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situation in which a company charges either less than its cost or less than it charges in its home market in order to enter or win a market
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durability
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a measure of products expected operating life under natural or stressful conditions
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durable goods
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tangible goods that normal survive many uses by consumers require more personal selling and service, command a higher margin and require more seller guarantees
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e commerce
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a company or site offers to transact or faciliatate the selling or products and services online
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elimination by aspects heuristic
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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
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environmental threat
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a challenge posed by an unfavorable trend or development that would lead to lower sales profit
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ethnographic research
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a particular observational research approach that uses concepts and tools from anthropology and other social science discipline to provide deep cultural understanding of how people live and work
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everyday low pricing
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in retailing a constant low price with few or no price promotions and special sales
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exclusive distribution
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severely limiting the number of intermediaries in order to maintain control over the service level and outputs offered by resellers
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expectancy value model
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consumer evaluate products and service by combining their brand beliefs – positive and negative- according to their weighted importance
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expected product
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a set of attributes and conditions buyers normally expect when they purchase this product
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experience curve
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a decline in the average cost with accumulated production experience
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experimental research
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the most scientifically valid research designed to capture cause and effect relationships by eliminating competing explanations of the observed findings
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fad
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a craze that in predictable short lived and without social economic and political significance
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family brand
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stituation in which the parent brand ia already associated with multiple products through brand extensions
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family or orientation
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parents and siblings
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family of procreation
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spouse and children
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features
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things that enhance the basic function of a product
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fixed costs ( Overhead)
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costs that do not vary with production of sales revenue
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flexible market offering
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a naked solution containing the product and service elements that all segment members value and discretionary options that some segment members value
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focus groups
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a gathering of 6 to 10 people who are carefully selected based on certain demographic, psychographic or other considerations and brought together to discuss various topics of interest
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forecasting
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the art of anticipating what buyers are likely to do under a given set of conditions
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form
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the size shape or physical structure of a product
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forward invention
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creating a new product to meet a need in anotehr country
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frequency programs
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designed to provide rewards to customers who buy frequently and in substantial amounts
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generics
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unbranded plainly packaged less expensive versions of common products such as spaghetti paper towels and canned peaches
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global firm
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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
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global industry
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in industry in which the strategic positions of competitors in major geographic or national markets are fundamentally affected by their overall global position
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goal formulation
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the process of developing specific goals for the planning period
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going rate pricing
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price based largely on competitors prices
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gray market
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branded products diverted from normal or authorized distribution channels in the country of product origin or across international boarders
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hedonic bias
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when people have a genral tendency to attribute success to themselves and failure to external causes
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heuristics
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rules of thumb or mental shortcuts in the decision process
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high low pricing
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charing higher prices on an everyday basis but then running frequent promotions and special sale
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holistic marketing
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a concept based on the development design and implementation of marketing programs processes and activities that recognized their breadth and interdependencies
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horizontal marketing system
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two or more unrealted companies put together resources or programs to exploit an emerging market opportunities
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hub and spoke system
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product management organization where brand or product manager is figuratively at the center with spokes leading to various departments representing working relationships
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industry
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a group of firms that offer a product or class of products that are close substitutes for one another
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informational appeal
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a group of firms that offer a product or class of products that are close substitutes for one another
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ingredient branding
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a special case of co branding that involves creating brand equity for mateirals components or parts that are necessarily contained within other branded products
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innovation
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any good service or idea that is perceived by someone as new
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innovation diffusion process
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the spread of a new idea from its source of invention or creation to its ultimate users or adopters
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installation
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the work done to make a product operational in its planned location
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institutional market
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schools, hospitals, nursing homes, prisons and other institutions that must provide goods and service to people in their care
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integrated logistics systems
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materials management, material flow systems and physical distribution abetted by information technology
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integrated marketing
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mixing and matching marketing activities to mximize their individual and collective efforts
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Integrated marketing channel system
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the strategies and tactics of selling through one channel reflect the strategies and tactics of selling through one or more channels
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integrated marketing communications
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a concept of marketing communications planning that recognized the added value of a comprehensive plan
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intensive distribution
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the manufactuer placing the goods or services in as many outlets as possible
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internal branding
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activities and process that help inform and inspire employees
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internal marketing
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an element of holistic marketing; the task of hiring training and motivating able employees who want to serve customers well
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interstitials
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advertisements, often with video or animation, that pop up between pages of a website
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jobbers
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small scale wholesalers who sell to smell retialers
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joint venture
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a company in which multiple investors share ownership and control
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lean manufacturing
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producing goods with minimal waste of time, materials and money
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learning
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changes in an individuals behavior arising from experience
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lexicographic heuristic
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a consumer choosing the best brand on the basis of its perceived most important attribute
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licensed product
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one whose brnad name has been licensed to other manufacterers who actually make the product
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life cycle cost
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the products purchase cost plus the discounted cost of maintenance and repair less the discounted salvage value
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life stage
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a persons 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
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lifestyle
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a persons pattern of living in the world as expressed in activities interests and opinion
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line extension
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the parent brand is used to brand a new product that targets a new market segment withina product category currently served by the parent brand
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line stretching
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a company lengthens its product line beyond its current range
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long term memory
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a permanent repository of information
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loyalty
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a commitment to rebuy or repatronize a preferred product or service
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maintenance and repair
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the service program for helping customers keep purchased products in good working order
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market
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various groups of customers
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market build up method
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identifying all potential buyers in each market and estimating their potential purchases
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market centered organizations
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companies that are organized along market lines
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market demand
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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
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market forecast
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the market demand corresponding to the level of industry marketing expenditure
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market logistics
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planning the infastructure to meet demand then implementing and controlling the physical flows or materials and final goods from points of origins to points of use
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market management organization
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a market manager supervising several market development managers, market specialists or industry specialist and drawing on functional services as needed
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market penetration index
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a comparison of the current level of market demand to the potential demand level
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market potential
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the limit approached by market demand as inudstry marketing expenditures approach infinity for a given market
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market share
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a higher level of selective demand for a product
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market skimming pricing
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pricing strategy where prices start high and are slowly lowered over time to maximize profits from less price sensisitve customers
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marketer
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someone who seeks a response from another party called the prospect
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marketing
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the activity set of institutuions and processes for creating, communicating, delivering and exchanging offering that have value for for customers
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marketing audit
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a comprehensive systematic independent and periodic examination of a companys or business unit marketing environment objectives strategies and activities
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marketing channel system
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the particular set of marketing channels employed by a firm
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marketing channels
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sets of independent organizations involved in the process of making a product or service available for use or consumption
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marketing communications
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the means by which firms attempt to inform, persuade and remind consumers directly or indirectly about products and brands that they sell
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marketing communications mix
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advertising, sales promotion events and experiences public relations and publicity direct marketing and personal selling
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marketing concept
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holds that the key to achieving organizational goal is being more effective than competitors in creating, delivering and communicating superior customer value to target markets
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marketing dashboards
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a structured way to disseminate the insights gleaned from marketing metrics and marketing mix models
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marketing decision support system
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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 into a basis for marketing action
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marketing funnel
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identifies the percentage of the potential target market at each stage in the decision process, from merely aware to highly loyal
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Marketing implementaTion
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the process that turns marketing plans into action assignments and ensures that such assignments are executed in a manner that accomplishes the plans stated objectives
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marekting information system
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people equiptment and procedures to gather sort analyze evalute and distribute information to marketing decision makers
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marketing insights
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diagnostic information about how and why certain effects are observed in the marketplace and what that means to marketers
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marketing intelligence system
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a set of procedures and sources managers use to obtain everyday information about developments in the marketing environment
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marketing management
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the art and science of choosing target markets and getting, keeping and growing customers through creating delivering and communication superior customer value
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marketing metrics
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the set of measure that helps firm to quantify compare and interpret their marketing performance
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marketing network
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the company and its supporting stakeholders with whom it has built mutually profitable business relationships
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marketing opportunity
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an area of buyer need and interest in which there is a high probablity that a company can profitabily satisfy a need
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market opportunity analysis
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system used to determine the attractiveness and probablity of success
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marketing paritioning
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the process of investigating the hierarchy of attributes consumers examine in choosing a brand if they use phased decision strategies
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marketing plan
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written document that summarizes what the marketer has learned about th emarketplace indicates how the firm plans to reach its marketing objectives and helps direct and coordiante the marketing efforts
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marketing public relations
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publicity and other activities that build coprorate or product image to faciliatte marekting goals
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markup
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pricing an item by adding a standard increase to teh products cost
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mass customization
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the ability of a company to meet each customers requirements
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master brand
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situation in which the parent brand is already associated with multiple products through brand extensions
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materials and parts
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goods that enter the manufacturers product completely
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media selection
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finding the most cost effective media to deliver the desired number and type of exposures to the target audience
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mediation
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when a neuteral third party skilled in conciliating two parties interests is brought in to resolve a dispute
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megatrend
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a large social, economic, political or technological change that is slow to form and once in place has an influence for seven to ten years or longer
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membership groups
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groups having a direct influence on a person
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memory encoding
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how and wher einformation gets into memory
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memory retrieval
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how and from where information gets out of memory
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mental accounting
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the manner by which consumers code categorize and evaluate financial outcomes of choices
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microsales analysis
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examination of specific products and territories that fail to produce expected sales
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microsite
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a limited area on the wb managed and paid for by an external advertiser/ company
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mission statement
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a statement that an organization develops to share with managers employees and in many cases consumers
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mixed bundling
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the seller offers good both individual and in bundles
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mobile apps
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bite sized software programs that can be downloaded to smart phones
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motive
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a need aroused toa sufficient level of intensity to drive us to act
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multichannel marketing
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a single firm uses two or more marketing channels to reach one or more customer segments
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mutlitasking
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doing two or more things at the same time
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net price analysis
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analysis that encompasses company list price average discount promotional spending and co op advertising to arrive at net price
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neuromarketing
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brain research on the effect of marketing stimuli
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noncompensatory models
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in consumer choice, when consumers do not simultaneously consider all positive and negative attribute considerations in making a decision
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nondurable goods
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tangible goods purchased frequently and normally consumed in one or a few uses
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omnichannel marketing
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when mutiple channels work seamlessly together and match each target cusotmers preferred ways of doing business regardless of whether customers are online in the store or on the phone
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opinion leader
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the person in informal, product related communications who offer advice or information about aspecific product or product category
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order ease
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how easy it is for the customer to place an order with the company
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organization
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a companys structures policies and corporate culture
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organizational buying
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the decision makign process by which formal organizations establish the need for pruchased products and services and identify evaluate and choose among alternative brands and suppliers
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overall market share
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the companys sales expressed as apercentage of total market sales
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packaging
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all the activities of designing and producing the container for a product
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paid search
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marketers bid on search terms when a cosnumer searches for those words using google, yahoo or bing, the markets ad will appear on the rsults page and advetisers pay only if people click on links
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parent brand
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an existing brand that gives birth to a brand extension
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partner relationship managment
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activities the firm undertakes to build mutually satisfying long temr relations with key partners such as suppliers distirbuters ad agencies and marketing research suppliers
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penetrated market
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the st of consumers who are buying a companys product
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perceived value
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the value promised by the companys value proposition and perceived by the cusomter
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PERCEPTION
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the process by which an individual selects, organizes and interprets information inputs to creat a meaningful picture of the world
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performance quality
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the level at which the products primary characteristics operate
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personal communications channel
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two or mor persons communicating directly face to face, person to audience over the telephone or through email
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personal influence
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the effect one person has on anothers attitude or pruchase probablity
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personality
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a set of distinguishing human pscyhological traits that lead to relatively consistent responses to environmental stimuli
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place advertising
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ads that appear outside of home and where consumers work and play
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points of purchase
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the location where a purchase is made, typically thought of in terms of a retail setting
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points of difference
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attributes or benefits that consuemrs strongly associate with a brand positively evaulate and believe thy could not find to the same extent with a competitive brand
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points of parity
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attribute or beenfit associations that are not necessarily unique to the brand but may in fact be shared with other brands
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positioning
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the act of designing a companys offering and image to occupty a distinctive place in the minds of the targer market
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potential market
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the set of consumers who profess a sufficient level of interest in a market offer
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potential product
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all the possible augmentations and transformations the product or offering might undergo in the future
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price discrimination
answer

a company sells a product or serve at two or more prices that do not reflect a proportional difference in cost
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price escalation
answer

an increase in the price of a product due to added costs of selling it in different countries
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primary groups
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groups with which a person interacts continuously and informally such as family, friends, neighbors and coworkers
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principle of congruity
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psychological mechanism that states that consumers like to see seemingly related products as being as similar as possible in their favorability
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private label brand
answer

brand that retailers and wholesalers develop and market
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product
answer

anything that can be offered to a market to satisfy a want or need
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product adaption
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altering the product to meet local conditions or preferences
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product assortment
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the st of all products and items ap articular seller offers
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product concept
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proposes that consumers favor products offering the most quality performance or innovative features
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product invention
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creating something new via product development or other means
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product map
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competitiors items that are competing against company X’s items
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product mix pricing
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the firm searches for a set of prices that maximizes profits on the total mix
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product penetration percentage
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the percentage of ownership or use of a product or service in a population
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product system
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a group of diverse but realted items that function in a compatiable manner
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production concept
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holds that consumers prefer products that are widely available and inexpensive
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profitable customer
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a person, household, or company that over times yields a revenue stream that exceeds by an acceptable amoung the companys cost stream of attracting, selling and servicing that customer
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propsect
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a purchase a vote or a donation by a prospective client
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prospect theory
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when consumers fram decision alternatives in terms of gains and losses according to a value function
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psychographics
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the science of using psychology and demographics to better understand consumers
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public
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any group that has an actual or potential interest in or impact on a companys ability to achieve its objectives
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public relations
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a variety of programs designed to promote or protect a companys image or its individual products
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publicity
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the task of securing editorial space in print and broadcast media
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pull strategy
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when a manufactuerer uses advertising and promotion to persuade consumers to ask intermediareis for the product thus inducing them to order it
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purchase probability scale
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a scale to measure the probablity of a buyer making a particular purchase
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pure bundling
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a firm only offers its products as a bundle
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pure click
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companies that have launched a website without any previous existence as a firm
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push strategy
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when the manufacturer uses its sales force and trade promotion money to induce intermediaries to carry, promote and selll the product
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quality
answer

the totality of features and characteristics of a prdouct or service that bear on its ability to satisfy states or implied needs
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questionnarie
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a set of questions presented to respondents
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reference groups
answer

all the groups that have a direct or indirect influence on a persons attitudes o rbehavior
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reference prices
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pricing information a consumer retains in memory that is used to interpret and evaluate a new price
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relative market share
answer

market share in relation to a companys largest competitiros
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reliability
answer

a measure of hte probablity that a product will not malfunction or fail within a specified time period
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repairability
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a measure of the probablity that a product will not malfunction or fail within a specified time period
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represntativeness heuristic
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when consumers base their predictions on how representative or similar an outcome is to another
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reatiler
answer

any business enterprise whose sales volume comes primarily from retailing
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retailing
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all the activities in selling goods or services direct to final consumers for personal nonbusiness use
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risk analysis
answer

a method by which possible rates of returns and their probablities are calcualted by obtaining estimates for uncertain variables affecting profitability
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role
answer

the activities a person is expected to perform
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sales analysis
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measure and evlauting actual sales in relation to goals
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sales budget
answer

a conservative estimate of the expected volume of sales, used for maing current purchasing production and cash flow decisions
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sales promotion
answer

a collection of incentive tools, mostly short term, designed to stimulate quicker or great purchase of particular products or services by consumers or the trade
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sales quota
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the sales goal set for a product line company division or sales representative
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sales variance analysis
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a measure of the relative contribution of different factors to a gap in sales performance
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satisfaction
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a persons feeligns of pleasure or disappointmetn resulting from comparing a products perceived performance or outcome in relation to his or her expectations
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scenario analysis
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developing plausible representations of a firms possible fugure that makes different assumptions about forces driving the market and include different uncertainties
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secondary groups
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groups that tend to be more formal and require less interaction than primary groups such as religious professional and trade union groups
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selective attention
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the mntal process of screening out certain stimuli while noticing others
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selective distoriation
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the tendency to interpret product information in a way that fits consumer perceptions
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selective distribution
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the use of more than a few but less than all of the intermediaries who are willing to carry a particular produ t
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selective retention
answer

good points about a product ahta consumers lie are rememberd and good points about competing products are forgotten
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selling concept
answer

holds that consumers and businesses if left alone wont buy enough of the organizations products
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served maret
answer

all the buyers who are able and willing to buy a companys product
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served market share
answer

a companys sales expressed as a percentage of the total sales to its served market
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service
answer

any act or perfformance that one party can offer to another that is essentially intagible
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share penetration index
answer

a comparison of a companys current market share to its potential market share
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sharing economy
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when consumers share bies cars clothes couches apartments tools and skills and extract more value from what they already own
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shopper marketing
answer

the way manufactueres and retailers use stocking displays and pormotions to affect consumers actively shopping for a product
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shopping goods
answer

goods that the consumer in the process of selection and purchase characteristically compares on such bases as suitability quality price and style
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short term memory
answer

a temprorary repository of information
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show rooming
answer

when consumers physically examine a product and collect information in a store but make their actual purchase from the retailer later online or from a diffderent retailer altogether
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skunkworks
answer

information workplaces, sometiems garages where intrapreneurial teams work to develop new products
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social classes
answer

homogenous and enduring divisons in a society which are hierarchially ordered and whose members share similar values interests and behavior
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social marketing
answer

marketing done by a nonprofit or government organization to further a cause such as say no to drugs
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social media
answer

a means for consumers to share text, images, audio and video information with each other and with companies and vice versa
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specialty goods
answer

good with unqiue characteristics or brand identification for which enough buyers are willing to make a special purchasing effort
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stakeholder performance scorecard
answer

a measure to track the satisfaction of various constituencies who have critical interest in and impact on the companys performance
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status
answer

ones position within his or her own hierarchy or culture
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straight extension
answer

introducing a product in a foreign market without any change in the product
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strategic business units
answer

a single business or collection or 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
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strategic group
answer

firms persuing the same strategy directed to the same target market
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strategic marketing plan
answer

laying out the target markets and the value psoposition that will be offered based on analysis of the best market opportunites
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strategy
answer

a companys game plan for achieving its goals
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style
answer

a products look and feel to the buyers
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sub brand
answer

a new brand combined with an existing brand
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subcultures
answer

groups with shared values, beliefs, preferences and behaviors emerging from their special life experiences or circumstances such as with nationalities religion racial groups and geographical regions
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subliminal perceptions
answer

receiving and processing subconscious messages that affect behavior
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supersegment
answer

a set of segments sharing some exploitable similarity
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supplies and business services
answer

short term goods and services that facilitate developing or managing the finished product
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supply chain management
answer

procuring the right inputs converting them efficiently into finished products and dispatching them to the final destinations
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supply side methods
answer

approximately the amount of time or space devolted to media coverage of an event
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tactical marketing plan
answer

marketing tactics,, inclduing product features, promotion, merchandising pricing sales channels and service
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target costing
answer

deducting the desired profit margin from the price at which ap roduct will sell, given its appeal and compeitors prices
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target market
answer

the part of the qualified available market the company decides to persue
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target return pricing
answer

determining the price that would yield the firms target rate of return on investment
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telemarketing
answer

the use of telephones and call centers to attract prospects, sell to existing customers and provide service byu taking orders and answering questions
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total costs
answer

the sume of the fixed and variable costs for any given level of production
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total customer benefit
answer

the perceied 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
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total customer cost
answer

the bundle of costs customers ecpect to incur in evaluating obtaining using and dispoisng of the given marketing offer
question

total market potential
answer

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
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transfer price
answer

the price a company charges another unit in the company for goods it ships to foriegn subsidaries
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transformational appeal
answer

elaborates a non product realted benefit or image
question

trend
answer

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

two part pricing
answer

a fixed fee plus a variable usage fee
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tying agreements
answer

agreement in which producers of strong brands sell their products to dealers only if dealers purchase related products or services
question

unsought goods
answer

those the consumers does not know about or does not normally think of buying
question

value chain
answer

a tool for identifying ways to create more customer value
question

value delivery network
answer

a companys supply chain and how it partners with specific suppliers and distirbutors to make products and bring them to markets
question

value delivery system
answer

all the expectancies the customers will hav on the way to obtaining and using the offering
question

value network
answer

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

value pricing
answer

winning loyal customers by chargina fairly low price
question

value propositon
answer

the whole cluster of benefits the company promises to deliver customers
question

variable costs
answer

costs that vary directly with the level of production
question

venture team
answer

a cross function group charged with developing a specific product or business
question

vertical marketing system
answer

producer, wholeslaer and retailers acting a unified system
question

viral marketing
answer

using the internet to create word of mouth effects to support marketing efforts and goals
question

warranties
answer

formal statments of expected product performance by the manufacturer
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wholesaling
answer

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

yield pricing
answer

situation in which companies offer discounted but limited early purchases higher priced late purchases and the lowest rates on unsold inventory just before it experiences
question

zero level channel
answer

a manufactuer selling directly to the final customer