Term
|
Definition
| An organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders |
|
|
Term
|
Definition
| Buyers, sellers, investors in a company, community residents, and even citizens of the nations where goods and services are made or sold--in other words, any person or organization that has a "Stake" in the outcome |
|
|
Term
|
Definition
| The unltimate user of a good or service |
|
|
Term
|
Definition
| A management orientation that focuses on identifying and satisfying consumer needs to ensure the organization's longterm profitability |
|
|
Term
|
Definition
| The recongnition of any difference between a consumer's actual state and some ideal or desired state |
|
|
Term
|
Definition
| The desire to satisfy needs in specific ways that are culturally and socially influenced |
|
|
Term
|
Definition
| The outcome sought by a customer that motivates buying behavior-- that satisfies a need or want |
|
|
Term
|
Definition
| Customers' desire for products coupled with the resources to obtain them |
|
|
Term
|
Definition
| All the customers and potential customers who share a common need that can be satisfied by a specific product who have the resources to exchange for it, who are willing to make the exchange, and who have the authority to make the exchange. |
|
|
Term
|
Definition
| Any location or medium used to conduct an exchange. |
|
|
Term
|
Definition
| The usefulness or benefit consumers receive from a product |
|
|
Term
|
Definition
| The benefit marketing provides by transforming raw materials into finished products |
|
|
Term
|
Definition
| Benefit marketing provides by making products available where customers want them |
|
|
Term
|
Definition
| The benefit marketing provides by storing products until they are needed. |
|
|
Term
|
Definition
| benefit marketing provides by allowing the consumer to own, use, and enjoy the product. |
|
|
Term
|
Definition
| The process by which some transfer of value occurs between a buyer and a seller |
|
|
Term
|
Definition
| A management philosophy that emphasizes the most efficient ways to produce and distribute products. |
|
|
Term
|
Definition
| A managerial view of marketing as a sales function, or a way to move products out of warehouses to reduce inventory. |
|
|
Term
|
Definition
| A management philosophy that focuses on ways to satisfy customers' needs and wants |
|
|
Term
| Total Quality Management (TQM) |
|
Definition
| A management effort to involve all employees from the assembly line onward in continuous product quality improvement |
|
|
Term
|
Definition
| A management philosophy in which Marketing means a devotion to excellence in designing and producing products that benefit the customer plus the firm's employees, shareholders, and communities |
|
|
Term
| Customer relationship Management |
|
Definition
| A philosophy that sees marketing as a process of building long-term relationships with customers to keep them satisfied and to keep them coming back. |
|
|
Term
|
Definition
| A management philosophy that marketers must satisfy customers' needs in ways that also benefit society- and also are profitable for the firm. |
|
|
Term
|
Definition
| A product design forcus that seeks to create products that meet present consumer needs without compromising the ability of future generations to meet their needs. |
|
|
Term
|
Definition
| The direct finacial impact of a firm's expenditure of a resource such as time or money |
|
|
Term
|
Definition
| The Music, Movies, sports, books, celebrities, and other forms of entertainment consumed by the mass market. |
|
|
Term
|
Definition
| Stories containing symbolic elements that express the shared emotions and ideals of a culture |
|
|
Term
|
Definition
| A Tangible good, Service, idea, or some combination of these that satisfies consumer or business customer needs through the exchange process |
|
|
Term
|
Definition
| The goods purchased by individual consumers for personal or family use |
|
|
Term
|
Definition
| Intangible products that are exchanged directly from the producer to the customer |
|
|
Term
|
Definition
| The market segments on which an organization forcuses its marketing plan and toward which it directs its marketing efforts |
|
|
Term
|
Definition
| The benefits a customer recieves from buying a good or service |
|
|
Term
|
Definition
| A Marketplace offering that fairly and accurately sums up the value that will be realized if the good or service is purchased |
|
|
Term
|
Definition
| The ability of a firm to outperform the competition, thereby providing customers with a benefit the competition can't. |
|
|
Term
|
Definition
| A superior capability of a firm in comparison to its direct competitors |
|
|
Term
|
Definition
| Properties of products that set them apart from competitors' products by providing unique customer benefits |
|
|
Term
|
Definition
| A series of activities involved in designing, producing, marketing, delivering, and supporting any product. each link in the chain has the potential to either add or remove value from the product the customer eventually buys |
|
|
Term
|
Definition
| A document that describes the marketing environment, outlines the marketing objectives and strategy, and identifies who will be responsible for carrying out each part of the marketing strategy |
|
|
Term
|
Definition
| All possible customers in a market, regardless of the differences in their specific needs and wants |
|
|
Term
|
Definition
| A distinct group of customers within a larger market who are similar to one another in some way and whose needs differ from other customers in the larger market |
|
|
Term
|
Definition
| The way in which the target market perceives the product in comparison to competitors' brands |
|
|
Term
|
Definition
| A combination of the product itself, the price of that product, the place where it is made available, and the activities that introduce it to consumers that creates a desired response among a set of predefined consumers |
|
|
Term
|
Definition
| The assignment of value, or the amount the consumer must exchange to receive the offering |
|
|
Term
|
Definition
| The coordination of a marketer's marketing communications efforts to influence attitudes or behavior. |
|
|
Term
|
Definition
| The availability of the product to the customer at the desired time and location |
|
|
Term
|
Definition
| An ongoing process of making decisions that guide the firm both in the short term and for the long haul |
|
|
Term
|
Definition
| A Managerial decision process that matches an organization's resources and capabilities to its market opportunities for long-term growth and survival |
|
|
Term
|
Definition
| A decision process that concentrates on developing detailed plans for strategies and tactics for the short term that support an organization's long-term stragic plan |
|
|
Term
|
Definition
| Focuses on developing detailed plans for day-to-day activities that carry out an organization's functional plans. |
|
|
Term
|
Definition
| Individual units within the firm that operate like separate businesses, with each having its own mission, business objectives, resouces, managers, and competitors |
|
|
Term
|
Definition
| A formal statement in an organization's strategic plan that describes the overall purpose of the organization and what it intends to achieve in terms of its customer, products, and resources |
|
|
Term
|
Definition
| An assessment of a firm's internal and external environments |
|
|
Term
|
Definition
| The controllable elements inside an organization, including its people, its facilities, and how it does things that influence the operations of the organization |
|
|
Term
|
Definition
| The uncontrollable elements outside an organization that may affect its performance either positively or negatively |
|
|
Term
|
Definition
| Organization's strengths and weaknesses and the opportunities and threats in its external environment |
|
|
Term
|
Definition
| The group of different products or brands owned by an organization and characterized by different income-generating and growth capabilities |
|
|
Term
|
Definition
| A management tool for evaluating a firm's business mix and assessing the potential of an organization's strategic business units |
|
|
Term
|
Definition
| SBUs with products that have a dominant market share in high-growth markets |
|
|
Term
|
Definition
| SBUs with a dominant market share in a low-growth-potential market |
|
|
Term
|
Definition
| SBUs with low market shares in fast-growth markets. |
|
|
Term
|
Definition
| SBUs with a small share of a slow-growth market. They are businesses that offer specialized products in limited markets that are not likely to grow quickly |
|
|
Term
| Market Penetration Strategies |
|
Definition
| Growth strategies designed to increase sales of existing products to current customers, nonusers, and users of competitive brands in served markets |
|
|
Term
| Market Development Strategies |
|
Definition
| Growth strategies that introduce existing products to new markets |
|
|
Term
| Product developing strategies |
|
Definition
| Growth strategies that focus on selling new products in served markets |
|
|
Term
| Diversification Strategies |
|
Definition
| Growth strategies that emphasize both new products and new markets |
|
|
Term
|
Definition
| A management practice in which organizations seek to engage in activities that have a positive effect on society and promote the public good |
|
|
Term
| Environmental Stewardship |
|
Definition
| A position taken by an organization to protect or enhance the natural environment as it conducts its business activities |
|
|
Term
|
Definition
| A marketing strategy that supports environmental stewardship by creating an environmentally-founded differential benefit in the minds of consumers. |
|
|
Term
|
Definition
| Marketing activities in which firms seek to have their corporate identity linked to a good caus through advertising, public service, and publicity |
|
|
Term
|
Definition
| An Management practice that actively seeks to include people of different sexes, races, ethnic groups, and religions, in an organization's emplyees, customers, suppliers, and distribution channel partners |
|
|
Term
| Marketing information system (MIS) |
|
Definition
| A process that first determines what information marketing managers need and then gathers, sorts, analyzes, stores, and distributs relevant and timely marketing information to system users |
|
|
Term
|
Definition
| An internal corporate communication network that uses internet technology to link company departments, employees, and databases |
|
|
Term
| Marketing intelligence system |
|
Definition
| A method by which marketers get information about everyday happenings in the marketing environment |
|
|
Term
|
Definition
| Possible future situation that futurists use to assess the likely impact of alternative marketing strategies |
|
|
Term
|
Definition
| The process of collecting, analyzing, and interpreting data about customers, competitors, and the business environment in order to improve marketing effectiveness |
|
|
Term
|
Definition
| Research by firms that collect data on a regular basis and sell the reports to multiple firms |
|
|
Term
|
Definition
| Research conducted for a single firm to provide specific info its managers need |
|
|
Term
|
Definition
| Sophisticated analysis techniques to take advantage of the massive aamount of transaction information now avaliable |
|
|
Term
|
Definition
| A plan that specifies what information marketers will collect and what type of study they will do |
|
|
Term
|
Definition
| Data that has been collected for some purpose other than the problem at hand |
|
|
Term
|
Definition
| Data from research conducted to help in making a specific decision |
|
|
Term
|
Definition
| A technique that marketers use to generate insights for future, more rigorous studies |
|
|
Term
|
Definition
| One-on-one dicussion between a consumer and a researcher |
|
|
Term
|
Definition
| A product-oriented discussion among a small group of consumers led by a trained moderator |
|
|
Term
|
Definition
| A test that marketers use to explore peoples's underlying feelings about a product. Usually tell a story |
|
|
Term
|
Definition
| A test that marketers use to explore peoples's underlying feelings about a product. Usually tell a story |
|
|
Term
|
Definition
| A comprehensive examination of a particular firm or organization |
|
|
Term
|
Definition
| A detailed report based on observations of people in their own homes or communities |
|
|
Term
|
Definition
| A tool that probes more systematically info the problem and bases its conclusions on large numbers of observations |
|
|
Term
|
Definition
| A type of descriptive technique that involves the systematic collection of quantitative information |
|
|
Term
|
Definition
| A Technique that tracks the responses of the same sample of respondents over time |
|
|
Term
|
Definition
| A technique that attempts to understand cause-and-effect relationships |
|
|
Term
|
Definition
| A technique that tests prespecified relationships among varibles in a controlled environment |
|
|
Term
|
Definition
| The extent to which research actually measures what it was intended to measure |
|
|
Term
|
Definition
| The extent to which research measurement techniques are free of errors |
|
|
Term
|
Definition
| The extent to which consumers in a study are similar to a larger group in which the organization has an interest |
|
|
Term
|
Definition
| The process of selecting respondents for a study |
|
|
Term
|
Definition
| Text file inserted by a Web site sponsor into a web surfer's hard drive that allows the site to track the surfer's moves |
|
|
Term
|
Definition
| A sample in which each member of the population has some known chance of being included |
|
|
Term
|
Definition
| A sample in which personal judgement is used in selecting respondents |
|
|
Term
|
Definition
| A nonprobability sample composed of individuals who just happen to be available when and where the data are being collected |
|
|
Term
|
Definition
| The creation of many consumer groups due to a diversity of distinct needs and wants in modern society |
|
|
Term
| Target Marketing Strategy |
|
Definition
| Dividng the total market into different segments on the basis of customer characteristics, selecting one or more segments, and developing products to meet the needs of those specific segments |
|
|
Term
|
Definition
| The process of dividing a larger market into smaller pieces based on one or more meaningful shared characteristics |
|
|
Term
|
Definition
| Dimensions that divide the total market into fairly homogeneous groups, each with different needs and preferences |
|
|
Term
|
Definition
| Statistics that measure observable aspects of a population, including size, age, gender, ethnic group, income, education, occupation, and family structure |
|
|
Term
|
Definition
| Statistics that measure observable aspects of a population, including size, age, gender, ethnic group, income, education, occupation, and family structure |
|
|
Term
|
Definition
| Marketing to members of a generation who tend to share the same outlook and priorities |
|
|
Term
|
Definition
| A segmentation technique that combines geography with demographics |
|
|
Term
|
Definition
| The use of psychological, sociological, and anthropological factors to construct market segments |
|
|
Term
| VALS (Values and Lifestyles) |
|
Definition
| A psychographic system that divides the entire U.S. population into eight segments |
|
|
Term
|
Definition
| A technique that divides consumers into segments on the basis of how they act toward, feel about, or use a good or service |
|
|
Term
|
Definition
| A new approach to segmentation based on the idea that companies can make money by selling small amounts of items that only a few people want, provided they sell enough different items. |
|
|
Term
|
Definition
| Developing a marketing strategy aimed at influencing how a particular market segment percevies a good or service in comparison to the competition |
|
|
Term
|
Definition
| Redoing a products posioning to respond to marketplace changes |
|
|
Term
|
Definition
| A once-popular brand that has been revived to experience a popularity comeback |
|
|
Term
|
Definition
| A distinctinve image that captures a good's or services's character and benefits |
|
|
Term
|
Definition
| A vivid way to constuct a picture of where products or brands are "located" in consumers' minds |
|
|
Term
|
Definition
| The process by which a consumer or business customer begins to buy and use a new good, service, or idea |
|
|
Term
|
Definition
| The process by which the use of a product spreads throughtout a population |
|
|
Term
|
Definition
| The degree to which a consumer percieves that a new product provides superior benefits |
|
|
Term
|
Definition
| The extent to which a new product is consistent with existing cultural values, customs, and practices |
|
|
Term
|
Definition
| The degree to which consumers find a new product or its use difficult to understand |
|
|
Term
|
Definition
| The ease of sampling a new product and its benefits |
|
|
Term
|
Definition
| How visible a new product and its benefits are to others who might adopt it. |
|
|
Term
|
Definition
| A concept that explains how products go through four distinct stages from birth to death: introduction, growth, maturity, and decline |
|
|
Term
|
Definition
| The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace . |
|
|
Term
|
Definition
| The second stage in the product life cycle, during which the product is accepted and sales rapidly increase |
|
|
Term
|
Definition
| The third and longest stage in the product life cycle, during which sales peak and profit margins narrow |
|
|
Term
|
Definition
| The Final stage in the product life cycle, during which sales decrease as customer needs change. |
|
|
Term
|
Definition
| A name,a term, a symbol, or any other unique element of a product that identifies one firm's product(s) and sets it apart from the competition |
|
|
Term
|
Definition
| The legal term for a brand name, brand mark, or trade character; legally registered by a government obtain protection for exclusive use in that country |
|
|
Term
|
Definition
| The value of a brand to an organization |
|
|
Term
|
Definition
| A Brand that a group of individual products or individual brands share |
|
|
Term
| National or Manufacturer brands |
|
Definition
| Brands that are owned by the manufacturer of the product |
|
|
Term
|
Definition
| Brands that are owned and sold by a certain retailer or distributor |
|
|
Term
|
Definition
| A strategy in which products are not branded and are sold at the lowest price possible |
|
|
Term
|
Definition
| An agreement in which one firm sells another firm the right to use a brand name for a specific purpose and for a specific period of time |
|
|
Term
|
Definition
| An agreement between two brands to work together in marketing a new product |
|
|
Term
|
Definition
| A form of cobranding in which branded materials are used as ingredients or component parts of other branded products |
|
|
Term
|
Definition
| The covering or container for a product that provides product protection, facilitates product use and storage, and supplies important marketing communication |
|
|
Term
|
Definition
| An individual who is responsible for developing and implementing the marketing plan for a single brand |
|
|
Term
| Product Category Managers |
|
Definition
| Individuals who are responsible for developing and implementing the marketing plan for all the brands and products within a product catergory |
|
|
Term
|
Definition
| An individual who is responsible for developing and implementing the marketing plans for products sold to a particular customer group |
|
|
Term
|
Definition
| Groups of people within an organization who work together focusing exclusively on the development of a new product |
|
|
Term
|
Definition
| A very high, premium price that a firm charges for its new, highly desirable product |
|
|
Term
|
Definition
| A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it |
|
|
Term
|
Definition
| Pricing a new product low for a limited period of time in order to lower the risk for a customer |
|
|
Term
|
Definition
| Selling two or more goods or services as a single package for one price |
|
|
Term
|
Definition
| The coordination of a marketer's communication efforts to influence attitudes or behavior |
|
|
Term
|
Definition
| The process whereby meaning is transferred from a source to a receiver |
|
|
Term
|
Definition
| The process of translating an idea into a form of communication that will convey meaning |
|
|
Term
|
Definition
| An organization or individual that sends a message |
|
|
Term
|
Definition
| The communication in physical form that goes from a sender to a receiver |
|
|
Term
|
Definition
| A communication vehicle through which a message is transmitted to a target audience |
|
|
Term
|
Definition
| The organization or indivdual that intercepts and interprets the message |
|
|
Term
|
Definition
| The process by which a receiver assigns meaning to the message |
|
|
Term
|
Definition
| Anything that interferes with effective Communication |
|
|
Term
|
Definition
| Receivers' Reactions to the message |
|
|
Term
|
Definition
The major elements of marketercontrolled communications, including: Advertising
Sales Promotion
Public Relations
Personal Selling
Direct Marketing |
|
|
Term
|
Definition
| Using high-profile entertainment or news to get people to talk about your brand |
|
|
Term
|
Definition
| Creating entertaining or informative messages that are designed to be passed along in an exponential fashion, ofte electronically or by e-mail |
|
|
Term
|
Definition
| Creating entertaining or informative messages that are designed to be passed along in an exponential fashion, ofte electronically or by e-mail |
|
|
Term
|
Definition
| Word of mouth communication that is viewed as authentic and generated by customers |
|
|
Term
|
Definition
| The company tries to move its products through the channel by convincing channel members to offer them |
|
|
Term
|
Definition
| The Company tries to move its products through the channel by building desire for the products among consumers, thus convincing retailers to respond to this demand by stocking these items |
|
|
Term
|
Definition
| Attention, Interest, Desire and action |
|
|
Term
|
Definition
| Two or more goods or services combine forces to create interest using a single promotional tool |
|
|
Term
|
Definition
| Commmunication function that seeks to build good relationships with an organization's publics, including consumers, stockholders, and legislators |
|
|
Term
|
Definition
| Unpaid communication about an organization appearing in the mass media |
|
|
Term
| Public Relations Campaign |
|
Definition
| A coordinated effort to communicate with one or more of the firm's publics |
|
|
Term
|
Definition
| Information that an organization distributes to the media intended to win publicity |
|
|
Term
|
Definition
| PR activities through which companies provide financial support to help fund an event in return for publicized recognition of the company's contribution |
|
|
Term
|
Definition
| A series of activities involved in designing, producing, marketing, delievering, and supporting any product |
|
|
Term
|
Definition
| All the activities necessary to turn raw materials into a good or service and put it in the hands of the consumer or business customer |
|
|
Term
|
Definition
| The management of flows among firms in the supply chain to maximize total profitability |
|
|
Term
|
Definition
| A practice in which a company contracts with a specialist firm to handle all or part of its supply chain operations |
|
|
Term
|
Definition
| The series of firms or individuals that facilitates the movement of a product from the producer to the final customer |
|
|
Term
|
Definition
| Firms or individuals such as wholesalers, agents, brokers, or retailers who help move a product from the producer to the consumer or business user |
|
|
Term
|
Definition
| Dividing larger quantities of goods into smaller lots in order to meet the needs of buyers |
|
|
Term
|
Definition
| The elimination of some layers of the channel of distribution in order to cut costs and improve the efficiency of the channel |
|
|
Term
|
Definition
| A comprehensive approach to collecting, organizing, storing, and retrieving a firm's information assets. |
|
|
Term
|
Definition
| The process of designing, managing, and improving the movement of products through the supply chain. logistics includes purchasing, manufacturing, storage, and transport |
|
|
Term
| Cash-and-carry wholesalers |
|
Definition
| provide low cost merchandise for retailers and industrial customers that are too small for other wholesalers' sales representatives to call on |
|
|
Term
|
Definition
| Carry products to small business customer locations for their inspection and selection |
|
|
Term
|
Definition
| Limited-function wholesalers that take title to the merchandise but never actually take possession of it. |
|
|
Term
|
Definition
| sell products to small retailers and other industrial customers, often located in remote areas, through catalogs rather than a sales force |
|
|
Term
|
Definition
| supply retailers with specialty items such as health and beauty products and magazines. |
|
|
