Term
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Definition
| only 1 will be commercialized |
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Term
| which of the 4 P's is the most flexible |
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Definition
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Term
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Definition
| trashes out a lot of sensory input after 3 seconds |
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Term
|
Definition
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Term
| for exposure to survive the pre-attentive process and result in focal attention it must be... |
|
Definition
either
1) personally relevant
2) pleasant
3) surprising, moving, contrasting, threatening
4) easy to process |
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Term
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Definition
| the process of us giving meaning to sensory stimuli |
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Term
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Definition
inherently part of the product/service
-texture, taste, aroma, audio, parts, etc |
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Term
|
Definition
often created by marketing
-price, brand name, package, appearance, country of origin, etc
-expectation and bias work here |
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Term
|
Definition
| eliminate extrinsic cues to see whether biases occur in brand selection (coke vs. pepsi) |
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Term
|
Definition
| sensory, short term, and long term |
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Term
|
Definition
| pre-attentive processing (ex gorilla) |
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Term
|
Definition
also known as working memory
-encodes concepts and events
-ex many new names at a party |
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Term
|
Definition
| encoded memory traces are linked and requires retrieval to obtain |
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Term
| how long does short term memory typically last |
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Definition
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|
Term
| which stuff gets stored in LTM |
|
Definition
1) emotion-laden
2) multi sensory
3) vivid, stimulates mental images
4) distinctive
5) relevant to goals
6) elaborated
7) rehearsal
8) recirculation |
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Term
|
Definition
|
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Term
|
Definition
based on associative network, activates nodes are "reconstructed" as memory
ex: what commercials did you see on ABC last night |
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Term
|
Definition
cue is compared with related nodes. if match seems close enough "recognition" occurs
ex: did you see this McDonalds commercial on ABC last night |
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Term
| storage problems (memory) |
|
Definition
1) not enough repetition to offset decay
2) few links to other nodes in LTM
3) interference (closely aligned network) |
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Term
|
Definition
1) time it takes to register message (sensory)
2) comprehension (STM)
3) recall (LTM)
4) masked recognition (LTM)
5) unmasked recognition (LTM |
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Term
| consumers differ in their knowledge because... |
|
Definition
1) expertise (ex. wine taster)
2) cultural background |
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Term
|
Definition
1) a predisposition to respond
2) valenced
3) persistent over time
4) learned |
|
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Term
|
Definition
semantic differential scales
or
likert scales |
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|
Term
| semantic differential scales |
|
Definition
like...dislike
good...bad
etc |
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Term
|
Definition
|
|
Term
|
Definition
SUM(b*e) from i=1 to n
b is the belief the brand will provide attribute i
i=attribute
e=importance of attribute i |
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Term
|
Definition
yes when there is high effort and cognitively based behaviors
no when it is emotionally driven and low effort |
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Term
|
Definition
perceived benefit-expected benefit
positive delight
negative disappointment |
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|
Term
| another satisfaction model (no negatives) |
|
Definition
| =2*perceived benefit-expected benefit |
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Term
|
Definition
| foreign sounding company to exploit consumer inference |
|
|
Term
| compared to consumer markets, business markets... |
|
Definition
1) have fewer but larger customers
2)demand is derived
3) demand is relatively price inelastic
4) demand fluctuates more
5) more people involved in the decision making process
6) buyers and sellers have long term relationships |
|
|
Term
| correct sequence of marketing |
|
Definition
1)market segmentation
2) target marketing
3) market positioning |
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|
Term
| common bases for marketing |
|
Definition
1) geographic
2) demographic
3) pyschographic
4) behavior |
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Term
|
Definition
| dividing the market on the basis of location (ex: population density, or climate) |
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Term
|
Definition
| dividing the market on the basis of population characteristics (ex: age, gender, occupation, religion, etc) |
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|
Term
| pyschographic segmentation |
|
Definition
| dividing the market on the basis of lifestyle, personality, and purchase motivation |
|
|
Term
| types of demographic segmentations |
|
Definition
| age, gender, family size, family life cycle, income, occupation, education, religion, race and nationality |
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Term
|
Definition
| divided up into groups based on benefit sought, use of, or use situation of a product |
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Term
| o “if this business were split up, I would give you the land and bricks and mortar, and I would keep the brands and trademark, and I would fare better than you.” |
|
Definition
| shows that brand image and intangibles are the most important part of a business |
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Term
|
Definition
| marketing services by training and effectively motivating its customer contact employees and all the supporting service people to work as a team to provide customer satisfaction |
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Term
|
Definition
| only 100 will have enough commercial process to merit a small scale experiment and only 10 of those will warrant substantial commitment and only a couple will turn out to be unqualified success |
|
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Term
|
Definition
1) product development
2) introduction
3)growth
4) maturity
5) decline |
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Term
|
Definition
| zero sales, high investment cost, negative profits |
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Term
|
Definition
| low sales, negative profits, investors targeted, heavy promotion |
|
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Term
|
Definition
| rapidly rising sales, rising profits, early adopters targeted, growing competition |
|
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Term
|
Definition
| sales peak, high profits, middle majority targeted, concentrated competition |
|
|
Term
|
Definition
| declining sales, declining profits, laggards targeted, declining competition |
|
|
Term
|
Definition
| any activity that one party can offer to another that is intangible and does to result in ownership |
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Term
|
Definition
| find out quality before purchase (least uncertainty and risk) |
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Term
|
Definition
type of good where you cant find out quality by looking at it (food and drinks)
typically offer free trials |
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Term
|
Definition
even after consumption consumer feels uncertain about quality (medical services)
talk about credentials to promote it |
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Term
|
Definition
| used to separate yourself from competitors |
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Term
|
Definition
| a place to promote product and conform to regulations |
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Term
|
Definition
| minor changes to existing product (coke) |
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|
Term
|
Definition
| successful brand names help introduce new products (barbie cosmetics) |
|
|
Term
|
Definition
| new brands in an exisitng product category (P&G) |
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|
Term
|
Definition
| new brands in new product category (Subaru) |
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|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
|
|
Term
|
Definition
suffer from high failure rates
>90% fail within 2 years |
|
|
Term
|
Definition
1) reducing prices too quickly to get sales
2) pricing based on costs, not customer value |
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|
Term
|
Definition
| the evaluation of the attractiveness of the segments and selecting one(s) the firm will serve |
|
|
Term
| types of targeting marketing |
|
Definition
1) differentiated marketing
2) concentrated/niche marketing
3) micromarketing |
|
|
Term
|
Definition
| the way the product is defined by consumers on the important attributes-->the place the product occupies in consumers' minds relative to competing products |
|
|
Term
|
Definition
method to uncover consumers hidden motives
product design-->lube strip
consequences-->smooth shave
consumers self-->values (comfortable shave) |
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|
Term
|
Definition
|
|
Term
|
Definition
| is benefit worth the cost |
|
|
Term
|
Definition
| is value high enough to stop considering alternatives |
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|
Term
|
Definition
|
|
Term
|
Definition
| questions that indicate what they do, what they buy and how they spend their time |
|
|
Term
|
Definition
| questions focus on preferences and priorities |
|
|
Term
|
Definition
| questions about views and feelings about stuff |
|
|
Term
| components of positioning |
|
Definition
1) differential advantage
2) distinctive competence
3) unique value proposition |
|
|
Term
| 4 characteristics of a service |
|
Definition
1) intangibility
2) variability
3) inseparability
4) perishability |
|
|
Term
|
Definition
| quality of services depends on who provides it |
|
|
Term
|
Definition
| services cannot be separated from their providers |
|
|
Term
|
Definition
| services cannot be stored for later sale or use |
|
|
Term
|
Definition
| the extent to which customers are willing to pay more for the brand |
|
|
Term
| stages of new product development |
|
Definition
1) idea generation
2) idea screening
3) concept development and testing
4) marketing strategy development
5) business analysis
6) product development
7) test marketing |
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