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Business Marketing Chaper 5
Exam 1
19
Marketing
Undergraduate 3
02/12/2012

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Cards

Term
Accessible (segment member)
Definition
Means that members of a market can be reached or impacted by some directed marketing activity, a criterion of a good market segmentation approach
Term
Account Retention
Definition
The percentage of accounts that continue doing business with the seller each year
Term

Build-up Approach

(to market size estimation)

Definition
Estimates come from calculating the value of various materials or parts units needed (build up) in a specific application or from specific accouns. Also called factoring
Term
Customer Lifetime Value (CLV)
Definition
An estimate of the net persent value of the stream of benefits from a customer, less the burdens of servicing the account or managing the relationship
Term
Data Mining
Definition
Describes the process of using numerous query tools and exploratory techniques to extract information from a data base or warehouse
Term
Data Warehousing
Definition
Ises centrally managed data from all functional areas of the organization (sales, purchasing, human resources, finance, accounts payable, ect) - formatted to company standards- so that it may be accessed by authorized users through thier personal computers for queries, custome reports, and analysis
Term
Decile Report
Definition
A method of customer analysis that orders teh firm's customers from best to smallest, on the basis of purchase volume for the period
Term
Empathic Dialogue
Definition
Active listening and identification with customer concerns, resulting in customer-centered communication and problem solving
Term
Factoring
Definition
Approach to market size estimation in which estimates come from calculating the value of various materitals or parts units needed (factors) in a specific application or form specific accounts. Also called buildup approach
Term
Focus Groups
Definition
A method of quantitaive marketing research that brings a small group of customers together to discuss a specific topic or issue, under the direction of a professional moderator
Term

Identifiable

(segment members)

Definition
A criterion for a good segmentation approach; it means that members of market segments can be enumerated and evaluated
Term

NAICS

(pronounced "knacks")

North American Industrial Classification System

Definition

Establishes a common code between the United States, Canada, & Mexico that is compatible with the United Nations' two-digit system of undustry classification ISIC

 

Term
Positioning
Definition
A loosely used term that generally refers to marketing efforts to secute a valued categorization in the mind of the customer
Term
Sample Survey
Definition
A questionnaire administered to a representative group of a particular population
Term
Scenario
Definition
A forecasting technique that requires managers to write explicit anticipit futures and articulate the chains of events that would need to occur to make the future happen; a method used for organizational learning
Term

Standard Industrial Classification codes

(SIC)

Definition
Were developed by the U.S. goverment to collect and disseminate meaningful information on different sectors of the ecomony
Term
Statistical Series
Definition
An estimation technique that uses the correlation between demand and some other set of economic activities to yield a forecast
Term

Substanial

(segement potential)

Definition
A market segment promises sufficient business to justify the effors to serve it, a criterion of good segmentation approach
Term
Sugging
Definition
The unethical practice of using marketing research as a guise for selling
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