Term
| marketing research includes: |
|
Definition
syndicated research
marketing information systems
marketing intelligence systems
not recurring research projects |
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Term
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Definition
| providing data that's sold to companies (merits doing sales incentive programs and industry marketing research) |
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Term
| marketing information systems |
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Definition
| internal research, companies track ongoing changes in external environment (inventory reports, etc) |
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Term
| pros of syndicated research are... |
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Definition
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Term
| marketing intelligence systems |
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Definition
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Term
| non recurring research projects |
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Definition
| research on 1 time only events (like finding a reason for sharp sales decline or St. Joes hospital forming strategic alliance w/ childrens hospital and moving moms) |
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Term
| a marketing information system consists of... |
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Definition
| people,equipment and procedures to gather, sort, analyze, evaluate, and distribute needed, timely and accurate information to marketing decision makers |
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Term
| examples of a marketing information system are |
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Definition
observation (people watching)
social media (follow people/current events)
news outlets |
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Term
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Definition
| efficient way to manage and build relationships |
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Term
| companies that use databases include |
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Definition
las vegas hotels
samsonite
kraft
amex |
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Term
| las vegas hotels and databases... |
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Definition
| use databases to know when to comp gamblers at certain times, promote advertising |
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Term
| how samsonite uses databases... |
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Definition
| to know where things are sold |
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Term
| kraft foods uses databases to... |
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Definition
| use RFID to track who/where customers respond to coupons, use shopper cards, have contests |
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Term
| how american express uses databases |
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Definition
| traces every purchase made with their cards since 91, but there have been id theft problems, hackers taking info and using it in the wrong way (ie saying databases arent safe) |
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Term
| the marketing research process |
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Definition
1. define problems and research objectives
2. develop the research plan
3. collect the information
4. analyze the information
5. present the findings with exec summary first |
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Term
| non recurring marketing research processes that use primary data include... |
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Definition
-exploratory research
-descriptive research
-casual research |
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Term
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Definition
| sheds light on problems and suggests solutions or new ideas (uses focus group to find wants/problems/issues at hand) |
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Term
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Definition
| is used to ascertain magnitudes (see how important different aspects of a product are on a 1-10 scale) |
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Term
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Definition
| includes testing cause and effect relationships, tests hypothesis about cause and effect relationships (tests hypothesis to make decision based on set dimensions and results ) |
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Term
| research approaches for primary data include |
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Definition
observational
focus groups
surveys
behavioral
experimental |
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Term
| observational approach to primary data would be.. |
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Definition
| fisher price looking at how long a kid plays with a toy |
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Term
| focus groups characteristics and example |
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Definition
-only exploritory research (crystal pepsi made mistake of this)
-used in politics |
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Term
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Definition
| the most common approach to researching primary data |
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Term
| experimental approach to primary data |
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Definition
| done in a lab so everything is controlled (unrealistic), field (in store video sales), test market (go into city and try shit out),, before the product makes a full launch |
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Term
| secondary data sources include |
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Definition
internal sources
government publications
periodicals and books
commercial data
online |
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Term
| periodical and book publications for secondary data include... |
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Definition
| buying power index (SIC code, profile by county) |
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Term
| government publications that help secondary data sources include... |
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Definition
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Term
| commercial data provides secondary data sources by |
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Definition
| having syndicated research data that companies can buy |
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Term
| good marketing research characteristics... |
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Definition
-scientific (objective)
-creative
-uses multiple method
-realizes the interdependence of models and data
-acknowledges the cost and value of information
-maintains healthy skepticism
-is ethical |
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Term
| ethical marketing standards |
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Definition
| means not representing marketing research as marketing |
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Term
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Definition
| devotion to material needs and desires, to the neglect of spiritual matters; a way of life, opinion, or tendency based entirely upon material interests |
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Term
| materialism is a reason.... |
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Definition
| the towel heads hate us, (shows extremes and shit) |
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Term
| materialism has a __________ connotation |
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Definition
| negative, virtually every religion views consumption as conflicting with religious fulfilment |
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Term
| materialism is negatively associated with... |
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Definition
-self esteem and well being
-quality of life
-satisfaction with life in general |
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Term
| intrensic things ______ make a person happy |
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Definition
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Term
| attaining ones materialistic aspirations does not increase well being, possibly because |
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Definition
| extrinsic nature may be the explanation |
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Term
| happiness doesn't change with buying goods, instead when we buy something the happiness bar just gets set __________ |
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Definition
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Term
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Definition
| changing the nature of an event due to a good (like buying a new TV and then having watching sports become an entirely new activity) |
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Term
| marketing does not create needs, instead... |
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Definition
| marketing research is conducted to find unserved needs before a product is developed and promoted |
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Term
| how does marketing promote materialism? |
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Definition
-macro effects of promotion lead to focus on possessions = happiness view
-TV ad study showed ad viewing led to higher degrees of materialism among children |
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Term
| how is "Golden Coral: Eat Yourself to Happiness" misleading? |
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Definition
| because people arent really happier after eating there |
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Term
| people believe that things get better the more ____________ there is |
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Definition
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Term
| by believing in something, people create _________ __________ |
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Definition
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Term
| sustainable development is about... |
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Definition
-balancing economic growth and social needs with the natural environment
-ensuring that growth in the present does not adversely sacrifice future opportunities
-sustainability within a local area and at a global level |
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Term
| the current focus of sustainable development is |
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Definition
| climate change due to carbon emissions |
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Term
| challenges to sustainable development: |
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Definition
-inherit complexity of the problem
-conflicting interests
-emerging factors |
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Term
| inheriting the complexity of the problem in terms of sustainable development |
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Definition
-balancing short-term private benefits with long term interests
-idea that there cant be growth without damaging future economic or environmental interests |
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Term
| common problem of the inherited complexity of the sustainable development problem: |
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Definition
| whether development through industrialization itself should be referred to as sustainable |
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Term
| solutions to the complexity of the sustainable development problems include _____________ ____________ |
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Definition
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Term
| conflicts of interest in sustainable development |
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Definition
| -balancing self interest with the interest of others |
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Term
| personal interests involved in sustainable development challenges include... |
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Definition
| buying a mustang would be >>> buying a prius and helping the enviornment |
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Term
| challenges to sustainable development concerning post modernization emerging factors... |
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Definition
-global impacts of large scale industrailization and materialism
-population growth and increased life expectancy
-globalization of trade and transport
-impacts of science and technology exponentiation
-increased corpporate influence in relation to government and private citizens |
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Term
| environmental impacts of emerging post modernization factors |
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Definition
air pollution in china
energy consumption in china |
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Term
| schnucks and proctor and gambil sales rose ______ by emplementing green marketing |
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Definition
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Term
| problems with green movement |
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Definition
-hard time determining what is or isnt green
-example (kimberly clark says they are green but are given alot of trouble because they use some tree sap shit, but they put a cap on how much they use now) |
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Term
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Definition
| individual product sales / industry sales |
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Term
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Definition
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Term
| droid, balckberry, & other market share |
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Definition
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Term
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Definition
| estimating sales of product during future time period |
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Term
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Definition
-based on a specific marketing plan
-expressed in dollars or product units
-typically covers a 1 year period |
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Term
| example of market factor analysis |
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Definition
| goodyear using new car sales in 2010 to predict sales in 2014 |
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Term
| estimating future demand includes... |
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Definition
market factor analysis
survey of buyers intentions
past sales analysis
composite of sales force opinion
expert opinion |
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Term
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Definition
| demand for a product is assumed to be related to the behavior of certain sales activity |
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Term
| survey of buyer intentions |
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Definition
| a sample of current potential customers are asked how much of a particular product they would buy at a given price during a specified future time period |
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Term
| past sales and trend analysis |
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Definition
| a determined percentage increased is applied to the volume achieved last year or to the average volume of past years |
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Term
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Definition
| a bottom up method consisting of collecting estimates of sales for the future period from all salespeople |
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Term
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Definition
| obtaining opinions regarding future sales volume from one or more executives |
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Term
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Definition
| a firm markets its product in a limited geographic area, measures sales, and then projects the companies sales over a larger area |
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Term
| marketing stimuli include |
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Definition
product
price
place
promotion |
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Term
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Definition
economic
technological
political
cultural |
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Term
| buyers characteristics include |
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Definition
cultural
social
personal
psychological |
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Term
| buyers decision process includes |
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Definition
problem recognition
information search
evaluation
decision
postpurchase behavior |
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Term
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Definition
product choice
brand choice
dealer choice
purchase timing
purchase amount |
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Term
| problem recognition involves |
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Definition
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Term
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Definition
| physiological needs for food, water, air, clothing, shelter, sex, hygene, social interaction, survival, sleep |
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Term
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Definition
| biogenic or primary needs |
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Term
| an innate need is food, although a whopper is not a _____ |
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Definition
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Term
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Definition
| needs that are learned in response to ones culture or environment (such as the need for esteem, prestige, affection, or power) |
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Term
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Definition
| psychogenic or secondary needs |
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Term
| _________ is socially constructed |
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Definition
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Term
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Definition
| an individuals desire to control the environment (heating and cooling, cars, phones) |
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Term
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Definition
| the need for friendship, acceptance, and belonging (frat/sorority, social networks) |
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Term
| Maslow's hierarchy of needs |
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Definition
1. pysiological needs
2. safety and security needs
3. social needs
4. ego needs
5. self actualization needs |
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Term
| pysiological needs refer to |
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Definition
| food, sleep, air, shelter |
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Term
| safety and security needs refer to |
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Definition
| protection, order, and stability |
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Term
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Definition
| affection, friendship, belonging |
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Term
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Definition
| prestige, status, self esteem |
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Term
| self actualization needs refer to |
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Definition
| achieving self fulfillment |
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Term
| the "identification of alternatives" or information search, is influenced by... |
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Definition
-the ability to recall past experiences
-the consumers confidence in recalled information
-the costs of collecting more information |
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Term
| the most reliable source of information is... |
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Definition
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Term
| information searches include using... |
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Definition
internal sources
group sources
marketing sources
public sources
experiential sources |
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Term
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Definition
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Term
| marketing sources include |
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Definition
| websites, commercials, etc |
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Term
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Definition
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Term
| experiential sources include |
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Definition
| testdrives, sampling food |
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Term
| experiential sources (trials) go from an external source of information to an internal source once an _________ is formed |
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Definition
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Term
| an example of multiple criteria not being weighted equally includes: |
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Definition
| just buying a casket, the relationship b/w gas and price/location |
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Term
| consumers __________ are often incorrect due to inexperience or bias |
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Definition
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Term
|
Definition
| includes all aspects of a product in evaluation |
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Term
| non compensatory evaluation |
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Definition
| focus' on only the most important factor of a product when making a decision |
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Term
| what decisions might be made when purchasing a product? |
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Definition
-specific product features (options)
-where and when to make purchase
-how to take possession
-method of payment |
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Term
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Definition
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Term
| post purchase doubt is high because... |
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Definition
| each of the alternatives considered has both advantage and disadvantages |
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Term
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Definition
-the importance of the purchase
-the degree of similarity between the item selected and the items rejected |
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Term
| marketers can reduce doubt by |
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Definition
-reassuring buyers through ads and personal communications
-providing quality post sale service |
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Term
| the post purchase evaluation is the ___________ important step in the buying process |
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Definition
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Term
| the ________ a customer is, the more ___________ you make off of them |
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Definition
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Term
| in politics, lower __________ lead to higher satisfaction when somebody actually does something good |
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Definition
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Term
| movie sequels are worse because our expectations are so _____ |
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Definition
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Term
| the expectancy gap measures |
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Definition
actual performance - expectations
*positive gap = happy = low expectations
*negative gap = sad = high expectations |
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Term
| dell is a product that has a _________ experience |
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Definition
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Term
| ways apple increases customer satisfaction: |
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Definition
-has classes when you buy a product
-genius guys to set up apple products
-could get better by having more stores and being able to see bros without an apointment |
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Term
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Definition
routine
limited
extensive |
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Term
| routine (habitual) decision making |
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Definition
| include low involvement (almost subconscious), few alternatives considered, low cost. examples include snacks, fuel, school supplies |
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Term
| limited (middle ground) decision making |
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Definition
| involves medium involvement, several alternatives considered, spend some time comparing but wont go all over town, includes small appliances and clothes |
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Term
| extensive decision making |
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Definition
| involves high involvement, lots of time and effort spent, information searches and alternative evaluations, includes cars |
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Term
| universal set of alternatives |
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Definition
| set with theoretical structure (rolex > fossil) |
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Term
| retrieval alternative set |
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Definition
| largest set of alternatives that we have knowledge of |
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Term
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Definition
| associations ( + or - ) between 2 attributes |
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Term
| an example of a positive association |
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Definition
| the better the car looks the better the performance |
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Term
| an example of a negative association |
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Definition
| the higher the cost of a car (negative) the better its performance (positive) |
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Term
| example of negative association (ice cream example) |
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Definition
| 2 ice creams are the same; one sided ad says it tastes better; 2 sided ad says it tastes better and has more calories; people buy the second because they are more confident in the product |
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Term
| _______ is associated with quality |
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Definition
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Term
| country of origin effects |
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Definition
| if something is produced in a certain country (or town, state, etc) then there are preconcieved connotations associated with the product |
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Term
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Definition
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Term
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Definition
| wine, cheese, fashion, champagne, koneiak |
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Term
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Definition
| chocolate, army knives, skiing |
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Term
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Definition
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Term
|
Definition
| a tool to make decision making easier |
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Term
|
Definition
| buying crest unless colgate is on sale |
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Term
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Definition
| can be faulty and cause bias |
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Term
| another example of heuristics |
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Definition
| instead of comparing mp3 players on all features, just use a hierarchial rule (consider all under $100 then buy the one with most memory) |
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Term
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Definition
| stereotyping bias in which prior probabilities are ignored |
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Term
| example of representiveness |
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Definition
| even though ovaltine is bad for kids, since the mom is seen as nice and loving in the ads then people think she loves the kids and its good for them |
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Term
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Definition
| the tendancy to use information that is most readily available |
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Term
| availability bias ___________ what we know/recall |
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Definition
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Term
| example of availability bias: |
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Definition
| a consumer considers purchasing a home security system after a coworker reveals her home was broken into |
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Term
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Definition
| things we recently see are most prevelent in our minds (like mcD's ad at 5:00 or the steve irwin sting ray deal) |
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Term
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Definition
| if there was a crazy event that we remember then it sticks in the consumers head longer and overweights decisions |
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Term
| anchor and adjustment bias |
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Definition
| first information becomes basis from which we adjust prices based on new info |
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Term
| examples of anchor and adjustment are... |
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Definition
-population of turkey
-coat's $100 off in a mall
-using retail/sticker price for and anchor
-infomercials |
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Term
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Definition
| shit we dont need (snuggies, chia pets, pet rocks, dog water purifier machine) |
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Term
| materialism is defined as |
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Definition
| devotion to material needs and desires, to the neglect of spiritual matters; a way of life opinion, or tendancy based entirely upon material interests |
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Term
| materialism is a _____ that guides conduct especially consumption behavior |
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Definition
|
|
Term
| one of the main reasons the towelheads hate us is because we show extreme ___________ |
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Definition
|
|
Term
| ___________ doesn't change with buying most goods |
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Definition
|
|
Term
| materialism is negatively associated with... |
|
Definition
-self esteem and well being
-quality of life
-satisfaction with life in general |
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Term
| attaining ones materialistic aspirations does not increase well-being because.... |
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Definition
| the happiness bar is just set higher and higher and cant be met |
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Term
|
Definition
| changing the nature of an event due to a good (like buying a TV changes watching football to a totally new activity) |
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Term
| intrinsic things can actually _________ happiness |
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Definition
|
|
Term
| people believe that things get better with increases in ___________ |
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Definition
|
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Term
| just from believing something, people can create ____________ benefits |
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Definition
|
|
Term
| "golden coral hep yourself to happiness" is BS because |
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Definition
| people arent really happier after they leave |
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Term
| marketing doesnt create needs, rather aims to find ___________ needs |
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Definition
|
|
Term
| marketing _________ materialism |
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Definition
|
|
Term
| macro effects of promotion leads to focus on _________ |
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Definition
|
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Term
| corporate social responsibility |
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Definition
| actions that are beyond legal commitment that are viewed to be good for society |
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Term
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Definition
| companies with high corporate social responsibility get better employees, higher productivity, etc |
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Term
| external markets for virtue example |
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Definition
-chick fil a standing for their values then breaking records
-walmart being viewed as a bad guy |
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Term
| __________ is valued more that corporate social resposibility |
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Definition
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Term
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Definition
| coke teaming with Lance to promote healthy habits, parents called BS because coke isnt healthy hahahahhahah |
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Term
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Definition
| by simplifying, they make choices that help the environment |
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Term
| how does marketing respond to socially responsible consumers |
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Definition
-directly by appealing to segments desire for more "plain and simple" products
-simplifiers |
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Term
| eco efficient simplifiers |
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Definition
-include toyota puting hybrid on prius
-consume more, but buy eco status products to reflect social concerns |
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Term
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Definition
| CSR consumers who simplify to help the world |
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Term
| quality of life simplifiers |
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Definition
| simplfying seen as improving quality of life, less needs = less worry |
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Term
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Definition
-cant afford car so ride bike
-use simplicity desire to justify forced cutbacks due to financial reasons |
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Term
| macro effects of promotion foster _________ and _________ |
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Definition
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Term
|
Definition
| minimize energy consumption |
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Term
| new development engineering practices include |
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Definition
-cradle to cradle manufacturing
-perpetual material flow across multiple product life cycles and multiple use benefits
-100% recyclable |
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