Term
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Definition
| Processes a consumer uses to make purchase decisions, as well as to use and dispose of purchased goods or services. |
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Definition
| Result of an inbalance between actual and desired states. |
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| Marketing-Controlled Information Source |
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Definition
| A product information source that originates with marketers promoting the product. |
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Term
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Definition
| A well-known and respected brand name from one product category is extended into other product categories. |
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Definition
| The set of values, norms, attitudes, and other meaningful symbols that shape human behavior, and the artifacts, or products, of that behavior as they are transmitted from one generation to the next. |
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Definition
| The enduring belief that a specific mode of conduct is personally or socially preferable to another mode of conduct. |
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Definition
| Occur if consumers feel that making the wrong decision might cause some concern or anxiety. |
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Definition
| A group of people in a society who are considered nearly equal in status or community esteem, who regularly socialize among themselves both formally and informally, and who share behavioral norms. |
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Definition
| An individual who influences the opinions of others. |
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Definition
| How cultural values and norms are passed down to children. |
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Definition
| A way of organizing and grouping the consistencies of an individual's reactions to situations. |
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Term
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Definition
| How consumers perceive themselves in terms of attitudes, perceptions, beliefs, and self-evaluations. |
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Term
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Definition
| The way an individual would like to be. |
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Term
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Definition
| The way an individual actually perceives himself or herself. |
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Definition
| A mode of living as identified by a person's activities, interests, and opinions. |
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Term
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Definition
| The analytical technique used to examine consumer lifestyles and to categorize consumers. |
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Definition
| The extent to which consumers use their current situation to guide their social behavior. |
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Term
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Definition
| The process by which people select, organize, and interpret stimuli into a meaningful and coherent picture. |
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Term
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Definition
| People or organizations with needs or wants and the ability and willingness to buy. |
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Term
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Definition
| A subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs. |
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Term
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Definition
| The process of dividing a market into meaningful, relatively similar, and identifiable segments or groups. |
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Term
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Definition
| Segmenting markets by age, gender, income, ethnic background, and family life cycle. |
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Term
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Definition
| A series of stages determined by a combination of age, marital status, and the presence or absence of children. |
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Term
| Psychographic Segmentation |
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Definition
| Market segmentation on the basis of personality, motives, lifestyles, and geodemographics. |
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Term
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Definition
| A group of people or organizations for which an organization designs, implements, and maintains a marketing mix intended to meet the needs of that group, resulting in mutually satisfying exchanges. |
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Term
| Concentrated Targeting Strategy |
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Definition
| A strategy used to select one segment of a market for targeting marketing efforts. |
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Term
| Multisegment Targeting Strategy |
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Definition
| A strategy that chooses two or more well-defined market segments and develops a distinct marketing mix for each. |
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Term
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Definition
| An individualized marketing method that utilizes customer information to build long-term, personalized, and profitable relationships with each customer. |
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Term
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Definition
| Developing a specific marketing mix to influence potential customers' overall perception of a brand, product line, or organization in general. |
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Term
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Definition
| Changing consumers' perceptions of a brand in relation to competing brands. |
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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
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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 particular item for which consumers search extensively and are very reluctant to accept substitutes. |
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Term
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Definition
| A product unknown to the potential buyer, or a known product that the buyer does not actively seek. |
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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 competitors' products. |
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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
| The brand name of a manufacturer. |
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Term
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Definition
| A brand name owned by a wholesaler or retailer. |
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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
| Marketing Channel (Channel of Distribution) |
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Definition
| A set of interdependent organizations that ease the transfer of ownership as products move from producer to business user or consumer. |
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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
| They own the merchandise and control the terms of the sale |
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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
| Retailers, and wholesalers take title of the goods except: |
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Definition
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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
| Three basic functions that intermediaries perform are: |
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Definition
| Transactional, Logistical, and Facilitating functions |
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Term
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Definition
| Involve contacting and communicating with prospective buyers to make them aware of existing prodcts and explain their features, advantages and benifits. |
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Term
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Definition
| Include transportation and storage of assets, as well as their sorting, accumulation, consolidation, and/or allocation for the purpose of meeting customer requirements. |
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Term
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Definition
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Term
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Definition
| Commonly used for low-cost items that are frequently purchased, such as candy, cigarettes, and magazines. |
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Term
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Definition
| Wholesalers and channel members that buy and take title to products. |
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Term
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Definition
| Consists of several companies acting together in a highly organized and efficient manner, while employing the same or similar techniques as a single vertically integrated company. |
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Term
| Channel Partnering (Cannel Cooperation) |
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Definition
| The joint effort of all channel members to create a channel that serves customers and creates a competitive advantage. |
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Term
| 4 main areas of service distribution: |
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Definition
- Minimizing wait times
- Managing service capacity
- Improving service delivery
- Establishing channel-wide network coherence
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