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| The grouping of consumers on the basis of where they live |
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| The grouping of consumers according to easily measured objective characteristics such as age, gender, income, and education |
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| Used in segmentation, its how consumers describe themselves. |
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| goals for life, not just the goals one wants to accomplish in a day; a component of psuchographics that refers to overriding desire that drive how a person lives his or her life |
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| the image a person has of him or herself |
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| a component of psychographics, refers to the way a person lives his or her life to achive goals |
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| value and lifestyle survey |
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Definition
| a psychographic tool developed by SRI consulting business intelligence, classifies consumers into eight segments. Innovators, thinkers, believers, achivers, strivers, experiencers, makers, or survivors |
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| the grouping of consumers on basis of the benifits they derive from products or services |
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| a segmentation method that divides customers into groups based on how they use the product or service. Some common behavioral measures include occasion and lotalty |
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| a type of bahavioral segmentation based on when a product or service is purchased or consumed |
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| stratergy of investing in loyalty initiatives to retain the firms's most profitable customers |
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| geodemographic segmentation |
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Definition
| the grouping of consumers on the basis of a combination of geographic, demographic, and lifestyle characteristics |
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| Undifferentiated targeting strategy(mass marketing) |
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Definition
| a marketing strategy a firm can use if the product or service is perceived to provide the same benefits to everyone, who no need to develop seperate strategies fro different groups |
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| differentiated targeting strategy |
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| a strategy through which a firm targets several market segments with a different offering for each |
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| concentrated targeting strategy |
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| a marketing strategy of selecting, primary target market and focusing all energies on providing a product to fit that market's need |
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| an extreme form of segmentation that tailors a product or service to suit an individual customer's wants or needs; also called one-to-one marketing |
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| an extreme form of segmentation that tailors a product or service to suit an individual customer's wants or needs |
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| computer programs, installed on hard drives, that provides identifying information |
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| the unique value that a product or service provides to its customers and how it is better than and different from those of competitors |
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| reflects the relationship of benefits to costs, or what the consumer gets for what he or she gives |
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| display, in tow or more dimension the position of product or brands in the cosumers mind |
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| the position at which a particular market segment's ideal product would lie on a perceptual map |
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Definition
1: establish strategy
2: segmentation
3: evaluate segment attractiveness
4: select target market
5: identify and develop positioning strategy |
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| What is important when establishing overall strategy or objectives |
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Definition
| segmentation strategy and consistency |
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| What are the five measures marketers use to evaluate segment attractiveness |
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Definition
identifiable
substantial
reachable
responsive
profitable |
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Moving a product in the consumers mind
change your marketing mix |
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| a set of techniques and principles for systematically collecting, recording, analyzing, and interpreting data that can aid decision makers involved in marketing goods, services, or ideas |
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| pieces of information that have already been collected from other sources and usually and readily available |
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| data collected to address specific research needs |
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| a group of customers who represent the customers of interest in reasearch study |
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| organized, analysed, interpreted data that offers value to marketers. |
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Definition
| a set of techniques and principles for systematically collecting, recording, analyzing, and interpreting data that can aid decision makers involved in marketing goods, services, or ideas |
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Definition
| pieces of information that have already been collected from other sources and usually and readily available |
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Definition
| data collected to address specific research needs |
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| a group of customers who represent the customers of interest in reasearch study |
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| organized, analysed, interpreted data that offers value to marketers. |
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| data available for free from commercial research firms such as information resources inc (IRI) national purchase diary panel and ACnielsen |
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Definition
| a type of sydicated external secondary data used in quantitative research that is obtained from scanner readings of UPC codes at check-out counters |
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Definition
| information collected from a group of consumers |
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| large computer files that store millions and even billions of pieces of individual data |
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| the use of variety of statistical analysis tools to uncover previously unknown patterns in the data stored in databases or realtionships among variable |
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| information reaserch methods including observation following social media sites, in depth interviews, focus groups, and projective techniques |
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| structured responses that can be statistically tested to confirm insight and hypotheses generated via qualitative reseach or secondary data |
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| an exploratory research method that entails examining purchases and consumption behaviors through personal or video camera scrutiny |
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| data gathered by evaluating customer comment posted through social media sites such as facebook and twitter |
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| an exploratory research tenique in which trained researchers ask questions listed to an then pose additional questions to clarify or expand on a particular issue |
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| a research tenique in which a small group of persons come together for an intensive discussion about a particular topic with the conversation guided by a trained moderator using an unstructured method of inquiry |
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| a systematic means of collecting information from people that generally uses a questionnaire |
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| a form that features a set of questions designed to gather information from respondents and thereby accomplish the researchers objectives, questions can be wither unstructured or structures |
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| open-ended questions that allow respodents to answer in their own words |
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| closed ended questions for which a discrete set of response alternatives or specific answers is provided for respondents to evaluate |
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| a type of conclusive and quantitative research that systematically manipulates one or more variables to determine which variables have a casual effect on another variable |
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| a type of conclusive and quantitative research that systematically manipulates one or more variables to determine which variables have a casual effect on another variable |
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| digital scanning of physiological or bahavioral characteristics of individuals as a means of identification |
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Definition
1: define objectives and research need
2:designing the research
3:data collection process
4:analysing data and developing insight
5:Action plan and implementation |
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| the basic problem solving benefits that consumers are seeking |
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| the phusical attributes of a product including the brand name, features/design, quality level, and packagin |
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| the non physical attributes of the product including product warrenties financing, product support, and after sale service |
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| the non physical attributes of the product including product warrenties financing, product support, and after sale service |
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| products and services used by people for their personal use |
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| specialty products/services |
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| 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 supplier |
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| the complete set of all products offered by a firm |
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| groups of associated items such as those that consumers use together or think of as part of a group of similar products |
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| number of product lines offered by a firm, also know as variety |
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| the number of categories within a product line |
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| the set of assets and liabilities linked to a brand that add to or subtract from the value provided by the product or service |
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| 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 in the firms communications to consumers |
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| the relationship between a product or service benefits and its cost |
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| the mental links that consumers make between a brand and its key product attributes; can involve a logo, slogan, or famous personality |
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| occurs when a consumer buys the same brand product or service repeatedly over time rather than buying from multiple suppliers within the same category |
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| brands owned and managed by the manufacuture |
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| also called private label brands, are products developed by retailers |
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| developed and marketed by the retailer and available only from that retailer; also called store brand |
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| a firms own corporate name used to brand its product lines and products |
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| the practice of maketing two or more brands together, on the same package or promotion |
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| the use of individual brand names for each of a firms products |
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| the use of the same brand name for new products being introduced to the same or new market |
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| the use of the same brand name within the same product line and represents an increase in a product line's depth |
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| occurs when a brand extension adversely affects consumers perceptions about the attributes the core brand believes to hold |
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| a contractual arrengement between firms, whereby one firm allows another to use its brand name, logo, symbols, or characters in exchange for a negotiated fee |
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| brand repositioning(rebranding) |
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| a strategy in which marketers change a brands focus to target new markets or realign the brand core emphasis with changing market preferences |
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Definition
| the packegin the consumer uses such as the toothpast tube, from which he or she typically seek convenience |
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| the wrapper of exterior caton that contains the primary package and provides the UPC label |
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| What are the three levels of products and services |
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Definition
1: core customer value
2: actual product
3: augmented products
delivery, service |
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Definition
| brand name, domain name, logos, charactes..... |
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| what is the value of branding |
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Definition
facilitates purchases
establishes loyalty
protect from competitors
reduce marketing cost |
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Definition
| the process by which ideas are transformed into new products and services that will help firms grow |
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| the process by which the use of an innovation, whether a product or service, spreads throughtout a market group over time and over various categories of adopters |
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| new product introduction that establish a completely new market or radically change both the rules of competition and consumer preferences in a market |
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Definition
| new product introduction that establish a completely new market or radically change both the rules of competition and consumer preferences in a market |
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| products pioneers that are the first to create a market or product categonizable to consumers and thus establishing a commanding and early market share lead |
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| those buyers who want to be the first to have the new product or service |
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| the second group of sonsumers in the diffusion of innovatiors, to use a product or service innovation; generally dont like to take as much risk as innovators but instead wait and purchase the product after careful reviews |
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Definition
| a group of consumers in the diffusion of innovation model that represents approximately 34 percent of the population; members dont like to take much risk and therefore tend to wait until bugs are worked out of a particular product or service; few new products or services can be profitable until this large group buys them |
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| the last group of buyers to enter a new product market; when they do, the product has achived its full market potential |
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| consumers who like to avoid change and rely on traditional products until they are no longer available |
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| involves taking apart a competitors product, analysing it and creating an improved product that does not infringe on the competitors paternts |
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| innovative product users who modify existing products according to their own ideas to suit their specific needs |
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| brief written description of a product or service; its technology, working principles and forms and what customer needs it would satisfy |
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| the process in which a concept statement that descrives a product or a service is presented to potential buyers or users to obtain their reactions |
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| entails a process of balancing various engineering, manufacturing, marketing and economic consideration to develop a products form and features or a services feature |
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Definition
| entails a process of balancing various engineering, manufacturing, marketing and economic consideration to develop a products form and features or a services feature |
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Definition
| an attempt by the firm to determine whether a product will peform according to its design and wether its satisfies the need for which it was inteded |
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Definition
| having potential consumers examine a product prototype in a real-use setting to deternmine its functionality, performance, potential problems, and or issues |
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| the first physical form or service description of a new product still in rough or tentative form |
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| conducted before a product or service is brought to market to determine how many customers will try and then continue to use it |
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| introduces a new product or service to a limited geographical area prior to a national launch |
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| advertising to wholesalers or retailers to get them to purchase new products often through speical pricing incentives |
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| introduction price promotion |
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Definition
| short term price discounts designed to encourage trial |
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Definition
| mojor events attended by buyers who choose to be exposed to products and services offered by potential suppliers in an industry |
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| manufacturers suggusted retail price (MSRP) |
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| the price that manufactures suggest retailers use to sell their merchandise |
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Definition
| difines the stages that new products move though as they enter get established, and ultimately leave the marketers a starting point for thir strategy planning |
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| stage of the product life cycle when innovators start buying the product |
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| stage of the product life cycle when the product gains acceptance, demand, and sales increases and competitors emerge in the product category |
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| stage of the product life cycle when industry sales reach their peek so firms try to rejuvenate their product by adding new features or repositioning them |
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| stage in the product life cycle when sales decline and the product eventually exits the market |
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