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Definition
| That which is given up in an exchange to acquire a good or service. |
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Definition
| The Price charged to customers multiplied by the number of units sold. |
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Definition
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| Return on Investment (ROI) |
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Definition
| Net profit after taxes divided by total assets |
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Term
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Definition
| A company's product sales as a percentage of total sales for that industry. |
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Definition
| A pricing objective that maintains existing prices or meets the competitions prices. |
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Definition
| The quantity of a product that will be sold in the market at various prices for a specified period. |
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Definition
| The quantity of a product that will be offered to the market by a supplier at various prices for a specified period. |
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Definition
| The price at which demand and supply are equal. |
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Definition
| Consumers' responsiveness or sensitivity to changes in price. |
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Term
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Definition
| A situation in which consumer demand is sensitive to changes in price. |
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Definition
| A situation in which an increase or decrease in price will not significantly affect demand for the product. |
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Term
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Definition
| A situation when total revenue remains the same when prices change. |
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Term
| Yield Management Systems (YMS) |
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Definition
| A technique for adjusting prices that uses complex mathematical software to profitably fill unused capacity by discounting early purchases, limiting early sales at these discounted prices, and overbooking capacity. |
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Definition
| A cost that varies with the changes in the level of output. |
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Definition
| Cost that does not changed when output increases or decreases. |
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Term
| Average Variable Cost (AVC) |
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Definition
| Total variable costs divided by quantity of output. |
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Term
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Definition
| Total costs divided by quantity of output. |
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Term
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Definition
| The change in total costs associated with a one unit change in output. |
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Definition
| The cost of buying the product from the producer, plus amounts for profit and for expenses not otherwise accounted for. |
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Term
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Definition
| The practice of making up prices by 100%, or doubling the cost. |
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Term
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Definition
| A method of setting prices that occurs when Marginal Revenue equals Marginal Cost. |
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Term
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Definition
| The extra revenue associated with selling an extra unit of output or the change in total revenue with a one-unit change in output. |
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Term
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Definition
| A method of determining what sales volume must be reached before total revenue equals total costs. |
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Term
| Selling against the brand |
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Definition
| Stocking well-known branded items at high prices in order to sell store brands at discounted prices. |
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Term
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Definition
| A private electronic network that links a company with its suppliers and customers. |
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Definition
| Charging a high price to promote a high quality image. |
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Term
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Definition
| Everyday information about developments in the marketing environment that managers use to prepare and adjust marketing plans. |
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Term
| Decision Support System (DSS) |
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Definition
| An interactive, flexible, computerized information system that enables managers to obtain and manipulate information as they are making decisions. |
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Term
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Definition
| The creation of a large computerized file of customers' and potential customers' profiles and purchase patterns. |
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Term
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Definition
| The process of planning, collecting, and analyzing data relevant to a marketing decision. |
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Term
| Marketing Research problem |
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Definition
| determining what information is needed and how that info can be obtained efficiently and effectively. |
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Term
| Marketing research objective |
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Definition
| The specific information needed to solve a marketing research problem, the objective should be to provide insightful decision-making information. |
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Term
| Management decision problem |
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Definition
| A broad-based problem that uses marketing research in order for managers to take proper actions. |
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Term
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Definition
| Data previously collected for any purpose other than the one at hand. |
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Term
| Marketing Research Aggregator |
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Definition
| A company that acquires, catalogs, re-formats, segments, and re-sells reports already published by marketing research firms. |
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Term
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Definition
| Specifies which research questions must be answered, how and when the data will be gathered, and how the data will be analyzed. |
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Term
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Definition
| Information that is collected for the first time; used for solving the particular problem under investigation. |
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Term
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Definition
| The most popular technique for gathering primary data, in which a researcher interacts with people to obtain facts, opinions, and attitudes. |
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Term
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Definition
| A survey research method that involves interviewing people in the common areas of shopping malls. |
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Term
| computer-assisted personal interviewing |
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Definition
| An interviewing method in which the interviewer reads questions from a computer screen and enters the respondent's data directly into a computer. |
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Term
| computer-assisted self-interviewing |
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Definition
| An method in which a mall interviewer intercepts and directs willing respondents to nearby computers where each respondent reads questions off a computer screen and directly keys his or her answers into a computers. |
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Term
| Central-Location Telephone (CLT) facility |
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Definition
| A specially designed phone room used to conduct telephone interviewing. |
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Term
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Definition
| A type of survey that involves interviewing businesspeople at their offices concerning industrial products or services |
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Term
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Definition
| 7 to 10 people who participate in a group discussion led by a moderator. |
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Term
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Definition
| An interview question that encourages an answer phrased in the respondent's own words. |
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Term
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Definition
| An interview question that asks the respondent to make a selection from a limited list of responses. |
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Term
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Definition
| A closed-ended question designed to measure the intensity of a respondent's answer. |
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Term
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Definition
| A research method that relies on four types of observation; people watching people, people watching an activity, machines watching people, and machines watching an activity. |
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Term
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Definition
| Researchers posing as customers who gather observational data about a store. |
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Term
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Definition
| A form of observation marketing research that combines a consumer's online activity with psychographic |
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Term
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Definition
| The study of human behavior in its natural context, involves observations of behavior and physical setting. |
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Term
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Definition
| A method of gathering primary data in which the researcher alters one or more variable while observing the effects of those alterations another variable. |
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Term
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Definition
| A subset from a larger population. |
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Term
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Definition
| the population from which a sample will be drawn |
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Term
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Definition
| a sample in which every element in the population has a known statistical likelihood of being selected |
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Term
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Definition
| A sample arranged in such a way that every element of the population has an equal chance of being selected as part of the sample. |
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Term
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Definition
| any sample in which little or no attempt is made to get a representative cross section of the population |
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Term
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Definition
| A form of nonprobability sample using respondents who are convenient or readily accessible to the researcher - for example, employees, friends, or relatives. |
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Term
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Definition
| An error that occurs when there is a difference between the information desired by the researcher and info provided by the measurement process. |
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Term
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Definition
| An error that occurs when a sample somehow does not represent the target population. |
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Term
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Definition
| An error that occurs when a sample drawn from a population differs from the target population. |
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Term
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Definition
| An error that occurs when the selected sample is an imperfect representation of the overall population. |
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Term
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Definition
| A firm that specializes in interviewing respondents on a subcontracted basis. |
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Term
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Definition
| A method of analyzing data that lets the analyst look at the responses to one question in relation to the responses to one or more other question. |
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Term
| Consumer-Generated Media (CGM) |
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Definition
| Media that consumers generate and share among themselves. |
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Term
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Definition
| A system for gathering info from a single group of respondents by continuously monitoring the advertising, promotion, and pricing they are exposed to and the things they buy. |
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Term
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Definition
| A scanner-based research program that tracks the purchases of 3000 households through store scanners in each research market. |
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Term
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Definition
| A scanner-based sales-tracking service for the consumer packaged-goods industry |
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Term
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Definition
| A field of marketing that studies the body's response to marketing stimuli. |
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Term
| Competitive Intelligence (CI) |
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Definition
| An intelligence system that helps managers assess their competition and vendors in order to become more efficient and effective competitors. |
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Term
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Definition
| marketing that targets markets throughout the world. |
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Term
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Definition
| Recognizing and reacting to international marketing opportunities, using effective global marketing strategies, and being aware of threats from foreign competitors in all markets. |
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Term
| gross domestic product (GDP) |
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Definition
| the total market value of all final goods and services produced in a country for a given time period. |
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Term
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Definition
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Term
| Multi-national Corporation |
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Definition
| A company that is heavily engaged in international trade, beyond exporting and importing. |
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Term
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Definition
| Using more capital that labor in the production process. |
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Term
| Global Marketing Standardization |
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Definition
| Production of uniform products that can be sold the same way all over the world. |
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Term
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Definition
| When multi-national firms enable individual subsidiaries to compete independently in domestic markets. |
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Term
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Definition
| the largest LatAm trade agreement; includes Argentina, bolivia, brazil, chile, colombia, ecuador, paraguay, peru, and uruguay. |
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Term
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Definition
| An angreement to dramatically lower trade barriers worldwide; created the WTO |
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Term
| World Trade Organization (WTO) |
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Definition
| a trade organization that replaced the old General Agreement on Tariffs and Trade (GATT) |
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Term
| General Agreement on Tarriffs and Trade (GATT) |
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Definition
| A trade agreement that contained loopholes enabling countries to avoid trade-barrier reduction agreements. |
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Term
| North American Free Trade Agreement (NAFTA) |
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Definition
| An agreement between Canada, the US, and Mexico that created the world's then-largest free trade zone. |
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Term
| Central America Free Trade Agreement (CAFTA) |
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Definition
| Trade agreement from 2005 that includes Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, and the US. |
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Term
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Definition
| A free trade zone encompassing 27 European countries. |
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Term
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Definition
| An international bank that offers low-interest loans, advice, and information to developing nations. |
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Term
| International Monetary Fund (IMF) |
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Definition
| An international organization that acts as a lender of last resort, providing loans to troubled nations, and also works to promote trade through financial cooperation. |
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Term
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Definition
| A forum for international economic development that promotes discussion between industrial and emerging-market countries on key issues related to global economic stability. |
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Term
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Definition
| selling domestically produced products to buyers in other countries. |
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Term
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Definition
| An intermediary in the global market who assumes all ownership risks and sells globally for its own account. |
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Term
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Definition
| An intermediary who plays the traditional broker's role by bringing buyer and seller together. |
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Term
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Definition
| An intermediary who acts like manufacturer's agent for the exporter; the export agent lives |
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Term
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Definition
| The legal process whereby a licensor allows another firm to use its manufacturing process,trademarks, patents, trade secrets, or other proprietory knowledge. |
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Definition
| Private label manufacturing by a foreign company. |
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Term
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Definition
| When a domestic firm buys part of a foreign company or joins with a foreign company to create a new entity. |
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Term
| direct foreign investment |
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Definition
| Active ownership of a foreign company or of overseas manufacturing or marketing facilities. |
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Definition
| A system in which prices of different currencies move up and down based on the demand for and supply of each currency. |
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Term
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Definition
| The sale of an exported product at a price lower than that charged for the same or a like product in the "home" market of the exporter. |
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Term
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Definition
| A form of trade in which all or part of the payment for goods or services is in the form of other goods or services. |
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