Term
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Definition
| how consumers display searching for, purchasing, using, evaluating, and disposing of products and services that they expect will satisfy their needs |
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Personal consumer
Business to consumer |
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Definition
| individual who buys goods and services for their own use, for household use, for the use of a family member or friend |
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Organizational consumer
Business to business |
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Definition
| A business, government agency that buys the goods, services or equipment necessary for the organization to function |
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Definition
| characterized by the gearing up of manufacturing skills. Companies focused on production capabilities. Consumer demands exceeds supply |
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Definition
focus on selling. supply exceeds customer demand
More push to get rid of products. |
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Definition
| determine the needs and wants of specific target markets. deliver satisfaction better than competition |
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| societal marketing concept |
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Definition
| considers consumer's long run best interest. Good corporate citizenship. also a concern for overall society |
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Definition
| the process and tools used to study consumer behavior |
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Definition
| process of dividing the market into subsets of consumers with common needs or characteristics |
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Definition
| the selection of one or more of the segments identified to pursue (segmentation, consumer research, positioning) |
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Definition
| developing a distinct image in the mind of the consumer. It should communicate the benefits of the product and have a unique selling proposition |
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Definition
| product, place, price, promotion |
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Definition
customer value
satisfaction
trust
retention |
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Term
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Definition
| The ratio between the customer's perceived benefits and the resources used to obtain those benefits. perceived value is relative and subjective, we see value when we pay less and obtain more, every brand needs to communicate the value of customers shopping with them |
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Term
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Definition
| individuals perception of the performance of the product or service in relation to their expectations. customer groups based on loyalty include loyalists, apostles, defectors, terrorists |
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Definition
| objective of providing value is to retain highly satisfied customers. loyal customers are key because they buy more, less price sensitive, cheaper, spread positive word of mouth |
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Term
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Definition
| establishing and maintaining trust is essential. trust is the foundation for a long-standing relationship with customers |
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Term
| the traditional marketing concept |
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Definition
| make only what you can sell instead of trying to sell what you make. Research consumer needs and characteristics, focus on the need it satisfies |
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Term
| values and retention focused marketing |
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Definition
| use technology that enables customers to customize what you make focus on products perceived value ex)lays customizable chips |
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Definition
| more products and services through customization, instantaneous exchanges, collect and analyze data |
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Term
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Definition
| power, information, computers |
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Term
Depth interview
*Qualitative research |
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Definition
| lengthy interview, 20-60 min, one-on-one, semi structured, recorded in case something was forgotten ex)give me an example of... |
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Term
Focus group
*Qualitative research |
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Definition
| 8-10 participants, screener questionnaire, lasts about 2 hours, always taped or video taped, held in front of two way mirrors, online focus groups are growing |
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Term
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Definition
| define purposes and objectives to get an appropriate research design. A written statement of objectives helps to define the type and level of information needed |
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Term
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Definition
| observation, experiments, survey questionnaires. Usually involves numbers. |
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Term
observational
*quantitative |
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Definition
| helps researchers get a better understanding of what the product symbolizes |
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Term
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Definition
| involves any technological recording device ex)camera at a bank |
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Term
experimentation
*quantitative |
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Definition
| researcher does something to influence the consumer and they record the response of the consumer. Only manipulate one variable at a time for a controlled experiment ex)raising the price at the store |
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Definition
| conducted on a single market area |
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Term
Word associations
*Projective exercises |
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Definition
| researchers asks respondent to react to each word one at a time by writing one word and then explaining the link |
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Term
Sentence completion
*Projective exercises |
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Definition
| researcher has a series of incomplete sentences that the respondent needs to complete with a word or phrase |
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Term
Photo/visual for story telling
*Projective exercises |
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Definition
| series of photos, brands, or ads to serve as stimuli. The respondents have to tell a story about each photo |
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Term
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Definition
| participants are given a situation and have to act out the role in regard to a product or brand |
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Term
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Definition
| collects the appropriate data for the study (tests what its supposed to test) ex) asking a class a question. The rest of the campus may not have the same opinion because of varying majors. |
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Term
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Definition
| the same questions asked of a similar sample produce the same findings ex) Asking sections of the same class a question should result in the same answers |
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Definition
| asked to agree or disagree with a statement. easy to prepare and interpret, simple for customers ex)SIRS surveys |
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Term
| semantic differential scales |
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Definition
| includes bipolar adjectives . relatively easy to construct and administer. ex)Unattractive to attractive |
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Term
| behavior intention scales |
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Definition
| measures likelihood consumers will act a certain way. easy to construct and administer. ex)How likely are you to...? 1Not ---- 5Very |
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Term
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Definition
| items ranked in order of preference in terms of some criteria- always include an 'other' ex)price, amount, ingredients, brands, etc |
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Term
| customer satisfaction measurement |
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Definition
| Customer satisfaction surveys ex)comment cards, analysis of expectations vs. experience, mystery shoppers, customer complaint analysis |
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Term
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Definition
| a subset of the population used to estimate characteristics of the entire population. Who to survey, how many to survey, how to select them. |
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Term
| Why segmentation is necessary |
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Definition
consumer needs differ
differentiation helps products compete
ex)iphone can target teens by text feature and adults by email features
helps identify media
ex)older people look in newspapers, younger people use the internet |
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Term
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Definition
value proposition expressed through promotion where you state your product to deliver specific benefits ex)walmart is cheap and target offers something a little nicer
ex) starbucks vs. mccafe |
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Term
| Criteria for effective targeting |
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Definition
| identifiable, sizable, stable, accessible, congruent with company's resources |
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Term
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Definition
| age, gender, marital status, family life cycle, income, occupation, education ex)Hotel ads may showcase families or a couples getaway |
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Term
| Geodemographic segmentation |
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Definition
| people who live close to another are similar ex)zipcode- prefer MSU over UM. This is a fast/efficient way to make an assessment |
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Term
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Definition
| people often do not identify these traits because they are guarded or not consciously recognized. OCEAN |
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Term
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Definition
| customers who are very happy to try something, very open minded, perceive less risk |
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Definition
| Psychographics. Includes activities, interests and opinions. they explain buyer's purchase decisions and choices. ex)could easily advertise luggage if you know the market travels on planes a lot but it wouldn't be effective if your audience was hikers |
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Term
| sociocultural values and beliefs |
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Definition
sociological=group. includes segments based on cultural values ex)Americans value being successful
sub-cultural membership ex)value certain ways of dressing because you like skateboarding
cross-cultural affiliations ex)identify as other but consume the culture you live in |
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Term
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Definition
specific segmentation bases
usage rates ex)buying toilet paper for 1 person vs. 5-jumbo pack for families
usage situation ex)resealable package for the office or home
benefit segmentation ex)iphone texting vs. emails
perceived brand loyalty ex)give rewards to highly loyal camel cigarettes
Brand relationship ex)people might only buy because it's convenient so you showcase that to get them brand loyal |
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Term
| Dentyne Ad vs. Nicorette Ad |
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Definition
| Dentyne shows the social aspects to teens and Nicorette shows the dual features to smokers |
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Term
| implementing segmentation strategies |
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Definition
concentrated marketing-one segment
differentiated-several segments with individual marketing mixes |
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Definition
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Term
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Definition
| the driving force within individuals that implels them to action. unfulfilled needs. |
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Term
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Definition
| the essence of the marketing concept. marketers do not create needs but can make customers aware of needs. ex)you think your hair looks good but marketers show it can look better so you need other products |
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Term
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Definition
| physiological needs that are considered primary needs or motives |
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Term
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Definition
| learned in response to our culture or environment. secondary and psychological |
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Term
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Definition
| a driving force toward some object, approach goal, a positive goal toward which behavior is directed |
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Term
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Definition
drive us away from some object ex)Eating salad because you're driven away from alternatives
avoidance goal, a negative goal from which behavior is directed away |
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Term
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Definition
needs are never fully satisfied
new needs emerge as old needs are satisfied
people who achieve their goals set new and higher goals for themselves
ex)cars |
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Term
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Definition
ways to cope with frustration
consumer cannot attain a specific goal they anticipate will satisfy a need
may replace the primary goal over time
ex)want to join a gym |
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Term
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Definition
aggression
rationalization(goal isn't worth pursuing)
regression (acting childish)
withdrawal |
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Term
| criticisms of Maslows hierarchy of needs |
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Definition
| There are people who have met the needs out of order ex) homeless person with friends |
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Term
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Definition
| we form relationships with brands ex)taco bell's persona is a lazy guy, in sloppy clothes |
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Term
| The nature of personality |
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Definition
personality reflects individual differences
consistent and enduring
can change |
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Term
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Definition
| unconscious needs or drives are at the heart of human motivation |
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Term
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Definition
| social relationships are fundamental to the formation and development of personality |
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Term
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Definition
| quantitative approach to personality as a set of psychological traits. Focus on measurements of personality. Personality is linked to broad product categories and not specific brands ex)extraverts will be more drawn to new technology |
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Definition
| instinctual needs for immediate satisfaction. What you want |
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Term
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Definition
| society's morals and code of conduct. What they want |
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Term
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Definition
| conscious control creates BALANCE. What you do to compromise |
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Term
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Definition
| any distinguishing, relatively enduring way in which one individual differs from another |
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Term
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Definition
| we can creatively appeal traits of people to the soups ex)Tomato soup is a pet lover and like reading |
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Term
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Definition
| rely on own values when evaluating products ex)confidence in trying new products. These people like being alone and are innovators. |
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Term
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Definition
| look to others, less likely to be innovators, like ads with social group affiliations. ex)want to see how other people feel before making a purchase |
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Term
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Definition
| consumers who avoid conforming to expectations or standards of others ex)friend not wanting to use iphone. The samsung brand can say things like they are something different to reel in people like this. |
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Term
optimum stimulation level
*same as sensation seeking |
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Definition
| a personality trait that measure the level or amount of novelty or complexity that individuals seek in their personal experiences |
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Term
sensation seeking
*same as OSL |
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Definition
| the need for varied, novel, and complex sensations and experience and the willingness to take social and physical risks for the sensations |
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Term
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Definition
| measure a consumers degree of variety. Exploratory purchase behavior, use innovativeness, vicarious exploration ex)watching a friend use tinder when you're in a relationship |
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Term
| cognitive personality factors |
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Definition
| need for cognition (NFC)a person's craving for enjoyment of thinking ex)children. People with higher NFC are more likely to respond to ads rich in product info |
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Term
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Definition
| like to show off their possessions, more self-centered, don't get greater personal satisfaction from possessions, seek a lifestyle full of possessions |
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Term
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Definition
| attributing human characteristics to objects ex)Tony the Tiger, Mr. Peanut |
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Term
Brand personalities
*5 kinds |
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Definition
Sincerity
excitement
competence
sophisticated
ruggedness |
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Term
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Definition
| some products perceived as masculine (coffee and toothpaste) while others are feminine (bath soap, shampoo) |
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Definition
actual locations, like arizona tea
fictitious names like hidden valley |
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Definition
| color combinations in packaging and products denotes personality ex)mcdonalds red and yellow mean happy and build appetite |
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Definition
| a single consumer will act differently in different situations or with different people. we have a variety of social roles and markets can target products to a particular 'self' |
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Definition
| how consumers see themselves ex)mom thinks she's a bad mother |
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Definition
| how consumers want to see themselves ex)want to be a good mom |
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Definition
| how consumers feel others see them ex)mom is useless or incompetent |
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Definition
| how consumers expect to see themselves in the future ex)mother will be better in future |
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Definition
| traits an individual believe are in her duty to possess ex)what she's capable of being |
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Term
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Definition
| consumers use self-altering products to express individualism by creating new self, maintaining existing self, extending the self, conforming |
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