Term
| What is considered and institution |
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Definition
School
Museums
Churches
Organizations |
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Term
| What is a reseller Manufacter |
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Definition
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Term
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Definition
1. Need recognition
2. Product specification
3.Request for proposal
4.Proposal Analysis - vendor negotiation
5. Order specification
6. Vendor analysis |
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Term
| the 6 people that are involved in the buying process |
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Definition
Initiator - person that tells you to buy
Influencer - influences the views of the others
Decider - the person that ultimatly makes the decision
Buyer - the paperwork pusher
Use - the person using the product
gatekeeper - the person that controls the access to buyers |
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Term
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Definition
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Term
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Definition
| one person makes the rules |
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Term
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Definition
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Term
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Definition
| one person listing to the group but they still make the decision |
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Term
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Definition
Purchasing for the first time
likely to be quite involved
the buying center will probably use all six steps of the buying process |
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Term
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Definition
Purchasing a similar product but changing specifications
current vendor have an advantage |
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Term
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Definition
| buying additional units or products that have been previously purchased |
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Term
| What are the rewards of global marketing |
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Definition
Recognizing and reacting to international marketing opportunities
using effectivr global strategies
being aware of threats from foreign competitors |
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Term
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Definition
-the creation of a glbal economy
-The creation of a global culture
-The concentration of power in a smaller number of hands and or nations. the erasure of the borders that divide us? |
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Term
| Fears of trade and globalization |
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Definition
-millions of americans have lost jobs
-million fear losing jobs
-Threats of outsourcing if workers do not accept pay cuts |
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Term
| Benefits of globalization |
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Definition
-Expands economic freedom
-spurs competion
-raises productivity and living standards
-offeres access to foreign capital, global export, markets and advanced teachonology
-promotes higher labor and environmental
-acts as a check on goverment power |
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Term
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Definition
| General agreement on tariffs and trade |
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Term
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Definition
| International monetory Fund |
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Term
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Definition
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Term
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Definition
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Term
| Economic Analysis general economic environment |
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Definition
-Gross domestic products
-Purchasing power parity
-Gross national income
-Human development index |
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Term
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Definition
| Firm make adjustments to an existing product to meet the unique needs of a particular country market |
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Term
| Analyzing Infrastructure and technological capabilities |
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Definition
Transportation
communication
distribution channel
commerce |
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Term
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Definition
Tax
Artifically raises prices
lower demand |
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Term
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Definition
Maximun limit
Reduces availability of imported goods |
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Term
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Definition
Power distance
uncertainty avoidace
individualism
masculinity
time orientation |
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Term
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Definition
Quatas
anti dump polocies
economic conditions
competives factors |
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Term
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Definition
| The processes by which goods, services, capital, people, information, and ideas flow across national boarder |
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Term
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Definition
Segmentation
Targeting
positioning |
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Term
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Definition
Strategy or objectives
-check yourself
-derived from mission and current state |
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Term
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Definition
Descrive Segment
- Geographica segmentation
- Region of the country or world
- market size
- Market desity
-Climate |
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Term
| psychographic segmentation |
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Definition
- Social Class
-Lifestyle(what is valued by the segment)
-Personality(advanture seeker) |
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Term
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Definition
| The process of grouping customers into market segments accourding to the benefits they seek from the product |
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Term
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Definition
age
gender
income
ethnic background
family life cylce |
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Term
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Definition
much cheaper to keep on existing customer
lifetime value |
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Term
| Geodemographic segmentation |
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Definition
-Segmenting potential customeres into neighborhood lifestyle categories
-Combines geographic, demographic and lifestyle segmentation |
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Term
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Definition
| Evauate segment attractivesss |
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Term
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Definition
Who is in the their market
Are the segment unique
does each segment require a unique marketing mix |
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Term
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Definition
too small and it is insignificant
too big and its might need its own store |
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Term
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Definition
know the product exist
understnad what it can do
recognize how to buy |
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Term
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Definition
Reach positively to firms offering
move towards the firms products/service |
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Term
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Definition
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Term
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Definition
| selecting a target market |
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Term
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Definition
Determining which segments thet can serve best
should only enter segments where company can create superior customer value
gain advantages over competitors |
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Term
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Definition
differentiated
cencentrated |
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Term
| Undifferentiated segmation strategy Advantage |
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Definition
| Potential saving on production and marketing cost |
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Term
| Undifferentiated segmeantation strategy disadvantages |
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Definition
unimaginative product offering
company more susceptble to competition |
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Term
| Concentrated segmentation strategy advantage |
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Definition
Concentration of resources
meet narrowly defined segment
small firms can compete
strong positioning |
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Term
| Concentrated segmentation strategy disadvantages |
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Definition
Segments too small or changing
large competitors may market to niche segment |
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Term
| Differentiated segmentation strategy advantages |
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Definition
Greater financial success
Economies of scale |
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Term
| Differentiated segmentation strategy disadvantages |
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Definition
High Cost
cannibalization |
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Term
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Definition
Indidualized
information intensive
long term
personalized
has a goals of :
Cost reduction
-Custumer retention
-increased revenue
-customer loyalty |
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Term
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Definition
| Indentify and develop positioning strategy |
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Term
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Definition
the place the products occupies un the cosumers mind relative to compety products
should be tied to competive advantage |
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Term
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Definition
Determing customers perception and evaluation in relation to competitors
indentify competitors positions
determine consumer preference
select the position
monitor the positioning strategy |
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Term
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Definition
| a means of displaying or graphing in tow or more dimensions the lacation of products brands or groups of products in customers minds |
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Term
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Definition
Attribute
price and quality
use or application
product user
product class
competitor
emotion |
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Term
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Definition
Collecting
recording
analyzing
interpreting
decision making |
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Term
| The roles or market research |
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Definition
Descriptive
Diagnostic
Predictive |
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Term
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Definition
| gathering and presenting factual statements |
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Term
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Definition
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Term
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Definition
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Term
| The importatnce of Market research |
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Definition
Improve quality of decision making
trace problems
focus on keeping existing customers
understand changes in marketplace |
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Term
| Marketing research process |
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Definition
Defining objectives
designing the research project
data collection
analyzing data
presenting results |
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Term
| Defining the objectives and research needs |
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Definition
What information is needed to answer specific reseach questions
how should that information be obtained |
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Term
| Step 2 designing the research project |
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Definition
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Term
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Definition
imformation collected for the first time
used for solving the particular problem under investigation
advantages
answers a specific research question
data are current
sources of data is known
secrect can be maintained |
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Term
| Advantages of primary data |
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Definition
answers a specific research question
data are current
sources of data is known
secrect can be maintained |
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Term
| Disadvantages of primary date |
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Definition
expensinve
piggybacking may confuse repondents
quality declines if interviews are lengthy
reluctance to participate in lenghtly interviews |
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Term
| Advantages of secondary data |
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Definition
Saves time and money if on taget
aids in determining direction for
primary data collected
Pinpoints the kinds of people to approach
serves as a basis of comparison |
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Term
| Disadvantages od secondary data |
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Definition
may not give adequate detailed information
may not be on target with the research problem
quality and accutacy of data may pose a prblem |
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Term
| Marketing reseach step three |
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Definition
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Term
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Definition
| attempts to begin to understand the phenomenon of interest and provides initial information when the problem lacks any clear definition |
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Term
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Definition
Observation
in depth interview
focus groups |
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Term
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Definition
A research method that rellies on three types of observation
people watching people
people watching an activity
machines watching people |
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Term
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Definition
| the study of human behavior in its natural context involves observation of behavior and physicalsetting |
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Term
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Definition
| Provides the information needed to confirm preliminary insights and which managers can use to pursue appropriate courses of action |
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Term
| Experiments: virtual shopping |
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Definition
allows customers to shop realistic complexity and variety
test can be altered quickly
computer automatically collects data |
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Term
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Definition
| A system for gathering information from a single group of respondents by continously monitor the advertising promotion and pricing they are exposed to and the things they buy |
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Term
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Definition
| The most popular technique for gathering primary data in which a reaseacher interacts with people to obtain facts opinions and attitudes |
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Term
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Definition
| Everyhitng favorable unfovorable a person receives in an exchange |
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Term
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Definition
| A name logo or symbol that evokes in customers a perception of added value from which they will pay a premium price |
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Term
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Definition
For customer a brand offers
a desined level of quality consitently
phychological rewards from owners
a means of distinguishing one brand from another |
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Term
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Definition
for companies
a means of communication features and benefits
an opportunity to create and sustain an image
customers satisfaction and repeat purchase opportunity |
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Term
| The top ten global brands |
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Definition
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Term
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Definition
Brand name
logos and symbols
URLS or domain names
characters
slogan |
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Term
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Definition
Spoken components of branding
condescribe the product or service characteritics or can be derived from contemporary language |
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Term
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Definition
| Visual branding elements that stand from corporate names or trademarks |
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Term
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Definition
| the location of the pages on the internet which often substitues for the firms name |
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Term
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Definition
| Brand Symbols that can be human anumal or animated (michilan man, ronald Mcdonald |
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Term
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Definition
| Short Phrases used to describe the brand or persuade consumers about characteristics of the brand ( the world runs on dunkin) |
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Term
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Definition
| Audio Messages about a brand that are composed of words or distict music |
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Term
| How do we know how good a brand is |
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Definition
Brand Awareness
brand equity perceived value (equity = value) |
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Term
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Definition
recognition
preference
insistence |
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Term
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Definition
| awereness of name benefits and package |
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Term
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Definition
| It useful consumer will buy if available evoked set |
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Term
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Definition
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