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Marketing Chapters 10-11
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Marketing
Undergraduate 1
10/27/2017

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Term
secondary data
Definition
pieces of information that have already been collected from other sources and usually are readily available
Term
primary data
Definition
data collected to address specific research needs
Term
syndicated data
Definition
Data available for a fee from commercial research firms such as Information Resources Inc., Panel, Nielsen. (syndicated external secondary data)
Term
Scanner Data
Definition
A type of syndicated external secondary data used in quantitative research that is obtained from scanner readings of UPC codes at check-out counters.(syndicated external secondary data)
Term
Panel Data
Definition
information collected from a group of consumers(syndicated external secondary data)
Term
data warehouses
Definition
large computer files that store millions and even billions of pieces of individual data (internal secondary data)
Term
data mining
Definition
the use of a variety of statistical analysis tools to uncover previously unknown patterns in the data stored in databases or relationships amount variables (internal secondary data) (ex: loyalty card scanned)
Term
churn
Definition
the number of consumers who stop using a product or service, divided by the average number of consumers of that product or service. (internal secondary data)
Term
big data
Definition
data sets that are too large and complex to analyze with conventional data management and data mining software (internal secondary data)
Term
qualitative research
Definition
Informal research methods, including observations, following social media sites, in-depth interviews, focus groups, and projective techniques.
Term
quantitative research
Definition
structured responses that can be statistically tested to confirm insights and hypotheses generated via qualitative research or secondary data
Term
observation
Definition
An exploratory research method that entails examining purchases and consumption behaviors through personal or video camera scrutiny.
Term
virtual community
Definition
online networks of people who communicate about specific topics, marketers monitor this closely to see what customers like/dislike about products.
Term
sentiment mining
Definition
data gathered by evaluating customer comments posted through social media sites such as Facebook and twitter.
Term
In-depth interviews
Definition
An exploratory research technique in which trained researchers ask questions, listen to and record the answers, and then pose additional questions to clarify or expand on a particular issue.
Term
focus group interview
Definition
a research technique in which a small group of persons (8-12) comes together for an intensive discussion about a particular topic, with a conversation guided by a trained moderator using an unstructured method of inquiry
Term
survey
Definition
a systematic means of collecting information from people that generally uses questionnaire
Term
unstructured questions
Definition
open-ended questions that allow respondents to answer in their own words
Term
structured questions
Definition
closed-ended questions for which a discrete set of response alternatives, or specific answer, is provided for respondents to evaluate
Term
experimental research
Definition
a type of conclusive and quantitative research that systematically manipulates one or more variable to determine which variable have a casual effect on another variable.
Term
biometric data
Definition
digital scanning of the physiological or behavioral characteristics of individuals as a means of identification
Term
product
Definition
anything that is of value to a consumer and can be offered through a voluntary marketing exchange
Term
core customer value
Definition
the basic problem-solving benefits that consumers are seeking
Term
Actual Product
Definition
the physical attributes of a product including the brand name, features/design, quality level, and packaging.
Term
associated services (augmented product)
Definition
The nonphysical attributes of the product including product warranties, financing, product support, and after-sale services.
Term
consumer product
Definition
products and services used by people for their personal use
Term
speciality products/services
Definition
Products or services toward which the customer shows a strong preference and for which he or she will expend considerable effort to search for the best suppliers.
Term
shopping products/services
Definition
Those for which consumers will spend time comparing alternatives, such as apparel, fragrances, and appliances.
Term
convenience products/services
Definition
Those of which the consumer is not willing to spend any effort to evaluate prior to purchase.
Term
unsought products/services
Definition
products or services consumers either do not normally think or buying or do not know about.
Term
product mix
Definition
the complete set of all products offered by a firm.
Term
product lines
Definition
Groups of associated items, such as those that consumers use together or think of as part of a group of similar products
Term
breadth
Definition
number of product lines offered by a firm; also known as variety.
Term
depth
Definition
the number of categories within a product line.
Term
what are the Values of Branding for the customer?
Definition
- Brands Facilitate Purchases
- Brands Establish Loyalty
- Brands Protect from Competition and Price Competition
- Brands Are Assets
Term
Brand Equity
Definition
The set of assets and liabilities linked to a brand that add to or subtract from the value provided by the product or service.
Term
Brand awareness
Definition
measures how many consumers in a market are familiar with the brand and what is stands for; created through repeated exposures of the various brand elements ( brand name, logo, symbol, character, packaging, or slogan)
Term
perceived value
Definition
the relationship between a product's or service's benefits and it's cost.
Term
brand association
Definition
the mental links that consumers make between a brand and it's ket product attributes; can involve a logo, slogan, or famous personality.
Term
brand loyalty
Definition
Occurs when a consumer buys the same brand's product or service repeatedly over time rather than buying from multiple suppliers within the same category.
Term
Manufacturer Brands ( national brands )
Definition
Brands owned and managed by the manufacturer. (coca-cola)
Term
Retailer/Store Brands
Definition
Products developed by retailers. Also called private label brands
Term
Private Labeled Brands
Definition
Brands developed and marketed by a retailer and available only from that retailer; Also called store brands (wegmans brand)
Term
Family Brand
Definition
A firm's own corporate name used to brand it's product lines and products.
Term
Individual Brands
Definition
The use of individual brand names for each of a firm's products.
Term
Line Extension
Definition
The use of the same brand name within the same product line and represents an increase in a product line's depth.
Term
brand dilution
Definition
occurs when a brand extension adversely affects consumer perceptions about the attributes the core brand is believed to hold.
Term
co-branding
Definition
the practice of marketing two or more brands together on the same package or promotion ( taco bell and Pizza Hut )
Term
brand licensing
Definition
A contractual arrangement between firms, whereby one firm allows another to use it's brand name, logo, symbols, or characters in exchange for a negotiated fee.
Term
brand repositioning (rebranding)
Definition
a strategy in which marketers change a brand's focus to target new markets or realign the brand's core emphasis with changing market preference. (dawn dish soap/air freshener)
Term
primary package
Definition
The packaging the consumer uses, such as the toothpaste tube, from which he or she typically seeks convenience in terms or storage, use, and consumption.
Term
secondary package
Definition
the wrapper or exterior carton that contains the primary package and provides the UPC label used by retail scanners; can contain additional product information that my not be available on the primary package.
Term
sustainable packaging
Definition
product packing that is ecologically responsible.
Term
Four Types of Products..
Definition
Speciality
Shopping
Convenience
Unsought
Term
What factors make a brand?
Definition
- brand name
- URL's
- Logos and symbols
- characters
- slogans
- jingles/sounds
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