Term
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Definition
| everyday information about developments in the marketing environment that managers use to prepare and adjust marketing plans |
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Term
| Decision Support System (DSS) |
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Definition
| an interactive flexible computerized information system that enables managers to obtain and manipulate information as they are making decisions |
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Term
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Definition
| the creation of a large computerized file of customers' and potential customers' profiles and purchase powers |
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Term
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Definition
| the process of planning, collecting, and analyzing data relevant to a marketing decision |
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Term
| Marketing Research Problem |
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Definition
| determining what information is needed and how that information can be obtained efficiently and effectively |
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Term
| Marketing Research Objective |
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Definition
| The specific information needed to solve a marketing research problem. The objective should be to provide insightful decision-making information |
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Term
| Management Decision Problem |
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Definition
| a broad-based problem that uses marketing research in order for managers to take proper actions |
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Term
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Definition
| Data previously collected for any purpose other than the ine at hand |
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Term
| Marketing Research Aggregator |
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Definition
| a company that acquires, catalogs, reformats, segments, and resells reports already published by marketing research firms |
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Term
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Definition
| specifies which research questions must be answered, how and when the data will be gathered, and how the data will be analyzed |
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Term
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Definition
information that is collected for the first time. Used for solving the particular problem under investigation
- New knowledge created for this research effort
- methods of getting primary research
- Observation
- Experimentation
- Surveys
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Term
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Definition
| the most popular technique for gathering primary data, in which a researcher interacts with people to obtain facts, opinions, and attitudes |
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Term
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Definition
| survey research method that involves interviewing people in the common areas of shopping malls |
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Term
| Computer-Assisted Personal Interviewing |
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Definition
| an interviewing method in which the interviewer reads the questions from a computer screen and enters the respondent's data directly into the computer |
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Term
| Computer-Assisted Self Interviewing |
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Definition
| an interviewing method in which a mall interviewer intercepts and directs willing respondents to nearby computers where the respondent reads questions of a computer screen and directly keys his answers into a computer |
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Term
| Central-Location Telephone (CLT) |
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Definition
| a specially designed phone room used to conduct telephone interviewing |
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Term
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Definition
| a type of survey that involves interviewing businesspeople at their offices concerning industrial products or services. |
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Term
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Definition
| seven to ten people who participate in a group discussion led by a moderator |
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Term
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Definition
| an interview question that encourages an answer phrased in the respondent's own words |
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Term
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Definition
| an interview question that asks the respondent to make a slection from a limited list of responses |
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Term
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Definition
| a closed-ended question designed to measure the intensity of a respondent's answer |
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Term
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Definition
| a research method that relies on four types of observation: people watching people, people watching an activity, machines watching people, and machines watching an activity |
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Term
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Definition
| researchers posing as customers who gather observational data about a store |
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Term
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Definition
| the study of human behavior in its natural context; involves observation of behavior and physical setting |
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Term
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Definition
| a method researchers use to gather primary data |
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Term
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Definition
| the population from which a sample will be drawn |
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Term
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Definition
| a sample in which every element in the population has a known statistical likelihood of being selested |
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Term
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Definition
| a sample arranged in such a way that every element of the population has an equal chance of being selected as part of the sample |
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Term
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Definition
| any sample in which little or no attempt is made to get a representative cross section of the population |
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Term
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Definition
| a from of non-probability sample using respondents who are convenient or readily accessible to the researcher- for example, employees, friends or relatives |
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Term
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Definition
| an error that occurs when there is a difference between the information desired by the researcher and the information provided by the measurement process |
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Term
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Definition
| an error that occurs when a sample somehow does not represent the target population |
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Term
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Definition
| an error that occurs when a sample drawn from a population differs from the target population |
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Term
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Definition
| an error that occurs when the selected sample is an imperfect representation of the overall population |
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Term
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Definition
| a firm that specializes in interviewing respondents on a subcontracted basis |
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Term
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Definition
| a method of analyzing data that lets the analyst look at the responses to one question in relation to the responses to one or more other questions |
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Term
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Definition
| a system for gathering information from a single group of respondents by continuously monitoring the advertising, promotion, and pricing they are exposed to and the things they buy |
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Term
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Definition
| a scanner-based research program that tracks the purchases of 3000 households through store scanners in each research marker |
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Term
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Definition
| a scanner-based sales-tracking service for the consumer packaged-goods industry |
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Term
| Competitive Intelligence (CI) |
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Definition
an intelligence system that helps managers assess their competition and vendors in order to become more efficient and effective competitors
- legally finding out what your competitor is doing
- part of a sound marketing strategy
- Helps companies respond to competitive threats
- Dumpster Diving is Legal
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Term
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Definition
| everything both favorable and unfavorable that a person receives in an exchange |
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Term
| Business (Industrial) Product |
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Definition
| a product used to manufacture other goods or services to facilitate an organizations operations or to resell to other customers |
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Term
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Definition
| a product bought to satisfy an individuals personal wants |
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Term
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Definition
| a relatively inexpensive item that merits little shopping effort |
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Term
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Definition
| a product bought to satisfy an individual's personal wants |
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Term
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Definition
| a product that requires comparison shopping because it is usually more expensive than a convenience product and is found in fewer stores |
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Term
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Definition
| a particular item that consumers search extensively for and are very reluctant to accept subsitutes |
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Term
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Definition
| a product unkown to the potential buyer or a known product that the buyer does not actively seek (root canal, funeral) |
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Term
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Definition
| a specific version of a product that can be designated as a distinct offering among an organization's products |
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Term
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Definition
| a group of closely related product items |
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Term
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Definition
| all products that an organization sells |
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Term
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Definition
| the number of product lines an organization offers |
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Term
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Definition
| the number of product items in a product line |
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Term
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Definition
| changing one or more of a product's characteristics |
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Term
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Definition
| the practice of modifying products so those that have already been sold become obsolete before they actually need replacement |
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Term
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Definition
| adding additional products to an existing product line in order to compete more broadly in the industry |
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Term
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Definition
| a name, term, symbol, design, or combination thereof that identifies a seller's products and differentiates them from a competitors products |
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Term
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Definition
| the part of the brand that can be spoken, including letters, words, and numbers |
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Term
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Definition
| the elements of a brand that cannot be spoken |
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Term
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Definition
the value of company and brand names. Really it's the extra value a brand name brings.
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Term
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Definition
| a brand that obtains as least a third of its earnings from outside its home country, is recognizable outside its home base of customers, and has publicly available marketing and financial data. |
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Term
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Definition
| a consistent preference for one brand over all others |
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Term
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Definition
| a no-frills, no brand-name, low-cost product that is simply identified by its product categiry |
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Term
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Definition
| the brand name of a manufacturer |
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Term
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Definition
| a brand name owned by a wholesaler or a retailer |
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Term
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Definition
| a brand manufactured by a third party for an exclusive retailer, without evidence of that retailer's affiliation |
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Term
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Definition
using different brand names for different products
ex: Proctor and Gamble |
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Term
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Definition
| marketing several different products under the same brand name (Honda) |
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Term
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Definition
| placing two or more brand names on a product or its package |
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Term
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Definition
| the exclusive right to use a brand or part of a brand |
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Term
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Definition
| a trademark for a service |
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Term
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Definition
| identifies a product by class or type and cannot be trademarked |
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Term
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Definition
| a type of package labeling that focuses on a promotional theme or logo, and consumer information is secondary |
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Term
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Definition
| a type of package labeling designed to help consumers make proper product selections and lower their cognitive dissonance after the purchase |
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Term
| Universal Product Codes (UPCs) |
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Definition
| a series of thick and thin vertical lines (bar codes) readable by computerized optical scanners, that represent numbers used to track products |
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Term
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Definition
| a confirmation of the quality or performance of a good or service |
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Term
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Definition
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Term
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Definition
| an unwritten guarantee that the good or service is fit for the purpose for which it was sold |
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Term
| Marketing Research Process |
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Definition
- Identify Problem
- Plan Design
- Specify Sampling Procedure
- Collect Data
- Analyze Data
- Prepare/Present Report
- Follow Up
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Term
| Identify the Problem (Step 1) |
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Definition
- Identify the key marketing decision
- Usually TM or 4P's
- Translate into research problem
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Term
| Plan Research Design (step 2) |
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Definition
- decide on type of data needed (primary/secondary)
- decide on method of collecting data
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Term
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Definition
- Interview bias- presence of interviewer might change responses
- Consumer unwillingness too participate
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Term
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Definition
- Types of Questions
- Ordering of Questions
- Wording of Questions
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Term
| Common Types of Questions |
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Definition
- Likert scale- SA, A, Uncertain, D, SD
- Sematic Differential- Excellent-----Awful, Old------Fresh
- Projective Technique- If a wendy's hamburger could talk to a McDonald's hamburger what would it say?
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Term
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Definition
- Leading
- Loaded
- Double-barreled
- Jargon or inappropriate terminology
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Term
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Definition
- Sensitive, personal questions at end
- more difficult questions at end
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Term
| Sampling Questions (Step 3) |
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Definition
- Who is the population?
- What will be used for the sampling frame?
- What type of sample will be used?
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Term
| Collect and Analyze Data (Stage 4 and 5) |
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Definition
- Often outsource collection
- Select appropriate statistical methods
- how do you pay your surveyors?
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Term
| Report and Follow Up (Steps 6 and 7) |
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Definition
- Report
- Concise Statement of the research objectives and design
- Summary of major findings and recommendations
- Follow Up
- Were recommendations implemented?
- Did they work?
- Did Sales increase?
- Purpose is to help make a management decision
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Term
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Definition
| love and loyalty of brand beyond reason |
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Term
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Definition
| the logos that say C-Copyright R-Reserved TM-Trademark. keeps your word from becoming common word. Have to work to protect it. |
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Term
| Characteristics of Good Brand Names |
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Definition
- Easy to say
- Memorable
- Suggests Product use
- Can be easily translated
- Evokes correct emotion
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Term
New Product Development Process
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Definition
- New Product Strategy
- Idea Generation
- Idea Screening
- Business Analysis
- Development
- Test Marketing
- Commercialization
Steps1-4 are thinking
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Term
| New Product Strategy (Step 1) |
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Definition
| a goal or strategy on how new products will fit into overall corporate success |
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Term
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Definition
- Customers
- Employees
- Distributors
- Competitors
- Vendors
- R&D
- Consultants
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Term
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Definition
Narrowing down and eliminating bad ideas.
Includes concept testing |
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Term
| Business Analysis (Step 4) |
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Definition
- Demand
- Cost
- Sales
- Profitability
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Term
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Definition
- Creation of prototype
- Packaging, branding, and labeling
- Final Government approvals if needed
- Detailed marketing strategy
- Significant cost commitment
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Term
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Definition
| The limited introduction to determine consumer reactions. Sometimes done with a scanner panel. Sometimes done in a lab setting |
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Term
| Commercialization (Step 7) |
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Definition
- Production
- Inventory buildup
- Distribution
- Advertising (consumer and trade)
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Term
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Definition
- No discernible benefits/differences
- Product Quality Problems
- Poor execution of other marketing element. (Yoplait pricing individual yogurt too high)
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Term
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Definition
- Introductory Stage
- Growth Stage
- Maturity Stage
- Decline Stage
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Term
| Introduction Stage (1) Characteristics |
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Definition
- New Product
- High costs to market
- Profit none (negative)
- Generally no competitors
- Innovators (2.5% of marketplace) buy
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Term
| Introduction Stage (1) Strategies |
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Definition
- Must create primary demand
- offer basic product
- advertising should educate and inform
- sampling, give-aways
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Term
| Growth Stage (2) Characteristics |
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Definition
- Rapidly Rising Sales
- Profits Increase and often peak
- Some repeat buyers
- Competition begins to enter
- Early adapters (13.5% of marketplace (young opinion leaders))
- Prices are still relatively high
- Recover R&D costs
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Term
Growth Stage (2) Strategies
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Definition
- Must Create specific (secondary) demand (need our specific brand)
- Lower prices to gain market penetration
- Expand distribution and advertising
- Profit Margin Drops
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Term
Maturity Stage (3) Characteristics
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Definition
- Sales reach a high level, but growth slows (plateau at high level)
- Many competitors (price)
- Market saturation-everyone who wants one has one
- Profits are high and then begin to decline due to price pressures
- Middle Majority (68% of marketplace (risk adverse)) buys
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Term
Maturity Stage (3) Strategies
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Definition
- Look for new product innovations and modifications
- Heavily promote brand with reminder advertising
- Offer incentives
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Term
Decline Stage (4) Characteristics
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Definition
- Sales drop off
- profits stop
- Laggards (13.5% of marketplace (older conservative, risk adverse) buy
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Term
Decline Stage (4) Strategies
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Definition
- Reduce Promotion
- Consolidate inventory to a few locations
- Consider modifying or dropping product
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Term
| Extending Time in the Product Life Cycle |
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Definition
- Increase Frequency of use
- Increase number of users
- Find new uses
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Term
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Definition
| a product new to the world, the market, the producer, the seller, or some combination of these |
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Term
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Definition
| process of getting a group to think of unlimited ways to vary a product or solve a problem |
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Term
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Definition
| The first filter in the product development process, which eliminates ideas that are inconsistent with the organization's new product strategy or are obviously inappropriate for some other reason |
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Term
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Definition
| a test to evaluate a new product idea, usually before any prototype has been created |
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Term
| Simulated (Laboratory) Market Testing |
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Definition
| the presentation of advertising and other promotional materials for several products, including a test product, to members of the product's target market |
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Term
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Definition
| the decision to market a product |
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Term
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Definition
| the process by which the adoption of an innovation spreads |
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Term
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Definition
| a product perceived as new by a potential adopter |
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Term
| Marketing Channel (Channel of Distribution) |
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Definition
| a set of interdependent organizations that eases the transfer of ownership as products move from producer to business user or consumer |
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Term
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Definition
| all parties in the marketing channel that negotiate with one another, buy and sell products and facilitate the changes of ownership between buyer and seller in the course of moving the product from the manufacturer into the hands of the final consumer |
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Term
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Definition
| the connected chain of all of the business entities, both internal and external to the company, that perform or support the marketing channel functions |
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Term
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Definition
| the difference between the amount of product produced and the amount an end user wants to buy |
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Term
| Discrepancy of Assortment |
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Definition
| the lack of all items a customer needs to receive full satisfaction from a product or products |
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Term
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Definition
| a situation that occurs when a product is produced byt a customer is not ready to buy it |
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Term
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Definition
| the difference between the location if a producer and the location of widely scattered markets |
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Term
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Definition
| a channel intermediary that sells mainly to consumers |
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Term
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Definition
| an institution that buys goods from manufacturers and resells them to businesses, government agencies, and other wholesalers or retailers and that receives and takes title to goods, stores them in its own warehouses, and later ships them |
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Term
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Definition
| wholesaling intermediaries who do not take title to a product but facilitate its sale from producer to end user by representing retailers, wholesalers, or manufacturers |
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Term
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Definition
| the efficient and cost-effective forward and reverse flow as well as storage of goods, services, and related information, into, through, and out of channel member companies |
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Term
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Definition
| distribution channel in which producer's sell directly to consumers |
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Term
| Dual Distribution (Multiple Distribution) |
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Definition
| the use of two or more channels to distribute the same product to target markets |
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Term
| Strategic Channel Alliance |
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Definition
| cooperative agreement between business firms to use the other's already established distribution channel |
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