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Marketing Exam 2
Ch. 5, 6, 8, and 9
34
Marketing
Undergraduate 2
04/02/2011

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Term
consumer behavior
Definition
The activities that people engage in when selecting, purchasing, using and disposing of products and services so as to satisfy needs and wants.
Term
consumer market
Definition
includes all individuals and households who buy products for personal consumption.
Term
culture
Definition
The way of life for an entire society. It includes:

system of beliefs , manners, dress, language, legal norms, religion, rituals, the arts, foods , moral norms
Term
reference group
Definition
A set of people who provide norms and values that are used by an individual as a basis for his/her behavior.
Term
opinion leader
Definition
Influential members of a community, group, or society to whom others turn for advice, opinions, and views.
Term
impulse buying
Definition
An unplanned or spontaneous purchase.
Term
intercept marketing
Definition
Intercepting the customer during the purchase process in order to influence decision making, often attempting to get the customer to make an unplanned purchase
Term
point-of-purchase marketing
Definition
Promotional materials placed where the product is actually sold.
Term
scrambled merchandising
Definition
The practice of adding unrelated items to a product assortment to increase sales.
Term
suggestive selling
Definition
Suggesting additional, related items during a purchase. Also known as add-on and cross-selling.
Term
decision heuristics
Definition
Mental shortcuts that help consumers narrow down choices; examples include: Price, What others have used, Something new/interesting, Well-known brand
Term
business buying behavior
Definition
The buying behavior of organizations that buy goods and services for use in the production of other products and services or for the purpose of reselling, renting or providing them to others.
Term
NAICS
Definition
Term
industrial markets
Definition
Firms that reprocess a product or service they buy before selling it again to the next buyer. Manufacturers, Construction firms Farms, timber and fisheries Mining companies
Term
institutional markets
Definition
Organizations that provide goods and services to people in their care. Religious organizations Schools Prisons, hospitals, nursing homes, museums
Term
resellers
Definition
Firms that buy products from other businesses and resell them again without making significant alterations to their form.
Term
government markets
Definition
The federal, state, and local agencies that buy goods and services for the constituents they serve.
Term
RFP
Definition
Term
market
Definition
An aggregate of individuals or organizations that have needs for products in a product class and who have the ability, willingness, and authority to purchase such products.
Term
market segment
Definition
A group of individuals, groups, or organizations that share one or more similar characteristics which make them have relatively similar product needs.
Term
market segmentation
Definition
Dividing a market into distinct groups with distinct needs, characteristics, or behavior who might require separate products or marketing mixes.
Term
target market
Definition
A group of persons for whom a firm creates and maintains a marketing mix that specifically fits the needs and preferences of that group.
Term
positioning
Definition
The strategy that aims to make a brand occupy a distinct ‘position’ in the mind of the customer relative to competing brands.
Term
Value Proposition
Definition
A compelling, engaging, and informative “promise” that summarizes the value a company provides to customers, supporting its position in the marketplace.
Term
Repositioning
Definition
changing a position-hard to due without losing credibility
Term
Marketing Information System (MkIS)
Definition
The people, equipment, and procedures used to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.
Term
marketing research
Definition
design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.
Term
Data Mining
Definition
The search for relationships, patterns, and trends which, previously were not known.
Term
Secondary data
Definition
Data that have been collected, interpreted, or published by someone other than the current source.
Term
primary data
Definition
Firsthand information, including research, interviews, published studies, books, reports, articles, or other documents.
Term
Panels
Definition
A sample of consumers or stores from which researchers take a series of measurements over time.
Term
open-ended question
Definition
can't be answered with a yes or no
Term
closed-ended question
Definition
can be answered with a yes or no
Term
Marketing Intelligence
Definition
collection and analysis of publicly available information about competitors and trends in the marketing environment.
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