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Leveling marketing final exam
marketing
78
Marketing
Graduate
04/18/2016

Additional Marketing Flashcards

 


 

Cards

Term
The systematic design, collection, interpretation, and reporting of information to help marketers solve specific marketing problems or take advantage of marketing opportunities
Definition
Marketing research
Term
An overall plan for obtaining the information needed to address a research problem or issue
Definition
research design
Term
Research conducted to gather more information about a problem or to make a tentaive hypothesis more specific
Definition
Exploratory research
Term
Small groups of actual customers who serve as sounding boards for new-product ideas and offer insights into their feelings and attitudes toward a firm's products and other elements of its marketing
Definition
Customer advisory boards
Term
An interview that is often conducted informally, without a structured questionnaire, in small groups of 8-12 people, to observe interaction when members are exposed to an idea or a concept
Definition
Focus group
Term
Research designed to verify insights through objective procedures and to help marketers in making decisions
Definition
Conclusive research
Term
Research conducted to clarify the characteristics of certain phenomena to solve a particular problem
Definition
Descriptive research
Term
Research that allows marketers to make casual inferences about relationships
Definition
Experiemental research
Term
The process of dividing a total market into groups with relatively similar product needs to design a marketing mix that matches those needs
Definition
Market segmentation
Term
The systematic design, collection, interpretation, and reporting of information to help maketers solve specific marketing problems or take advantage of marketing opportunities
Definition
Marketing research
Term
A research method in which respondents answer a questionnaire sent through the mail
Definition
Mail survey
Term
The process of selecting representative units from a total population
Definition
Sampling
Term
A type of sampling in which every element in the population being studied has a known chance of being selected for study
Definition
Probability sampling
Term
A form of probability sampling in which all units in a population have an equal chance of appearing in the sample, and the various events that can occur have an equal or known chance of taking place
Definition
Random sampling
Term
A type of probability samplling in which the population is divided into groups with a common attribute and a random sample is chosen withing each group
Definition
Stratified sampling
Term
A sampling technique in which there is no way to calculate the likelihood that a specific element of the population being studied will be chosen
Definition
Nonprobability sampling
Term
A nonprobability sampling technique in which researchers divide the population into groups and then arbitrarily choose participants from each group
Definition
Quota sampling
Term
A research method in which respondents answer a questionnaire sent through the mail
Definition
mail survey
Term
A research method in which respondents' answers to a questionnaire are recorded by an interviewer on the phone
Definition
Telephone survey
Term
An interview that combines the traditional focus group's ability to probe with the confidentiality provided by telephone surveys
Definition
Telephone depth interview
Term
A research method in which participatns respond to survey questions face-to-face
Definition
Personal interview survey
Term
A personal interview that takes place in the respondent's home
Definition
In-home (door-to-door) interview
Term
A research method that involves interviewing a percentage of individuals passing by "intercept" points in a mall
Definition
Shopping mall intercept interviews
Term
A variation of the shopping mall intercept interview in which respondents complete a self-administered questionnaire displayed on a computer monitor
Definition
On-site computer interview
Term
A research method in which respondents answer a questionnaire via e-mail or on a website
Definition
Online survey
Term
combines the words crowd and outsourcing and calls for taking tasks usually performed by a marketer or researcher and outsourcing them to a crowd, or potential market, through an open call
Definition
Crowdsourcing
Term
Analysis of what is typical and what deviates from the average
Definition
Statistical interpretation
Term
A collection of information arranged for easy access and retrieval
Definition
database
Term
Customized computer software that aids marketing managers in decision making
Definition
Marketing decision support system (MDSS)
Term
A framework for managing and structuring information gathered regularly from sources inside and outside the organization
Definition
Marketing infomration system (MIS)
Term
Purchasers and household members who intend to consume or benefit from the purchased products and do not buy products to make profits or serve an organizational need
Definition
Consumer market
Term
Individuals or groups who purchase a specific kind of product for resale direct use in producing other products, or use in general daily operations
Definition
Business market
Term

the process of dividing a total market into groups with relatively similar product needs to design a marketing mix that matches those needs

Definition
Market segmentation
Term

a market in which a large proportion of customers have similar needs for a product

Definition
Homogeneous market
Term

A market made up of individuals or organizations with diverse needs for products in a specific product class

Definition
Heterogeneous market
Term

A market segmentation strategy in which an organization targets a single market segment using one marketing mix

Definition

Concentrated targeting strategy

Term

A strategy in which an organization targets two or more segments by developing a marketing mix for each segment

Definition

Differentiated targeting strategy

Term
A strategy in which an organization designs a single marketing mix and direts it at the entire market for a particular product
Definition
Undifferentiated targeting strategy
Term
Characteristics of individuals, groups, or organizations used to divide a market into segments
Definition
Segmentation variables
Term
Creating and maintaining a certain concept of a product in customers' minds
Definition
Product positioning
Term
The amount of a proudct a company expects to sell during a specfic period at a specified level of marketing activities
Definition
Sales forecast
Term
Sales forecasts prepared by experts outside the firm, such as economists, management consultants, advertising executives, or college professors
Definition
Expert forecasting survey
Term
A procedure in which experts create initial forecasts, submit them to the company for averaging, and then refine the forecasts
Definition
Delphi technique
Term
The decision processes and actions of people involved in buying and using products
Definition
Buying behavior
Term
An unplanned buying behavior resulting from a powerful urge to buy something immediately
Definition
Impulse buying
Term
A buyer's doubts shortly after a purchase about whether the decision was the right one
Definition
Cognitive dissonance
Term
Influences that result from circumstances, time and location that affect the consumer buying decision process
Definition
Situational influences
Term
Factors that in part determine people's general behavior, thus influencing their behavior as consumers
Definition
Psychological influences
Term
The process of selecting, organizing, and interpreting information inputs to produce meaning
Definition
Perception
Term
Sensations received through sight, taste, hearing, smell and touch
Definition
information inputs
Term
The process by which some inputs are selected to reach awareness and others are not
Definition
Selective exposure
Term
Maslow's hierarchy of needs
Definition
Physiological, safety, social, esteem, self-actualization
Term
A set of internal traits and distinct behavioral tendencies that result in consistent patterns of behavior in certain situations
Definition
personality
Term
Organizations with charitable, educational, community, or other nonbusiness goals
Definition
Institutional markets
Term
A measure of the sensitivity of demand to changes in price
Definition
Price elasticity of demand
Term
A shift in price causes an opposite change in total revenue (an increase in price will decrease total revenue)
Definition
elastic price
Term
results in a change in the same direction as total revenue (an increase in price will increase total revenue)
Definition
inelastic demand
Term
An organization's decision to use only one supplier
Definition
Sole sourcing
Term
An organization's decision to use several suppliers
Definition
multiple sourcing
Term

The market value of a nation’s total output of goods and services for a given period; an overall measure of economic standing

Definition

GDP (gross domestic product)

Term

a duty levied by a nation on goods bought outside its borders and brought into the country 

Definition

Import Tariff

Term
The difference in value between a nation's exports and its imports
Definition
Balance of trade
Term
Environmental forces (6)
Definition
sociocultural; economic; political, legal and regulatory; ethical and social responsibilty, competitive; technological
Term

An alliance that merges Canada, Mexico and the United States into a single market

Definition

North American Free Trade Agreement (NAFTA) 

Term

Selling products at unfairly low prices 

Definition

Dumping

Term
An arrangement in which a supplier )franchiser) grants a dealer (franchisee) the right to sell products in exchange for some type of consideration
Definition
Franchising
Term
The development of marketing strategies that treat the entire world (or its major regions) as a single entity
Definition
globalization
Term
Data observed and recorded or collected directly from respondents
Definition
primary data
Term
Data compiled both inside and outside the organization for some purpose other than the current investigation
Definition
Secondary data
Term
A condition that exists when a research eother measures what it is supposed to measure
Definition
Validity
Term
A condition that exists when a research technique produces almost identical results in repeated trials
Definition
Reliablility
Term
population
Definition
All the elements, units, or idividuals of interest to research for a speific study
Term
Analysis of what is typical and what deviates from the average
Definition
Statistical interpretation
Term
Measureing company sales potential by estimateing how much of a product a potential buyer in a specific geographic area will purchase in a given period, multiplying the estimate by the number of potential buyers, and adding the totals of all the geographic areas considered
Definition
Buildup approach
Term
An internal energizing force that directs a person's behavior toward satisfying needs or achieving goals
Definition
Motive
Term
A perception or view of oneself
Definition
Self-concept
Term
A member of an informal group who provides information about a specific topic to other group members
Definition
Opinion leader
Term
An open group of individuals with similar social rank
Definition
Social class
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