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Definition
what a person seeks after shaped by culture/personality
buying power = demand |
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Term
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| the art and science of choosing target markets and building profitable relationships with them |
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| consumers will favor products that are available or highly affordable |
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| concept of modern marketing |
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| costumer relationships are the most important thing |
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| the costumer is always right |
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| the fastest growing form of marketing |
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| selective relationship management |
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Definition
| targeting fewer more profitable costumers |
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| the BCG growth share matrix |
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Definition
| evaluates a companies SBU strategic business unit in terms of market growth/share (star, cash cow, question marks, dogs) |
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| strategic planning efforts |
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Definition
| developing strategies for growth/downsizing (can use BCG) |
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| programs that work closely with there suppliers |
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Definition
| strategic alliance supplier development |
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| the four p's of the marketing mix |
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Definition
| product, price, place, promotion |
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Term
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Definition
| hired a product management for soap production, person develops/focuses on a single product |
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| checking ongoing performance against an annual plan an taking corrective action as needed |
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| company and position of its product |
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Definition
| arranging products to occupy a desired place relative to competing products in the minds of the target audience |
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| millennials/generation-y born between 1977 and 2000 comfortable with technology tweens8-12 teens 13-19 and young adults20's |
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| environmentally sustainable strategies |
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Definition
| one of today's trends such as: hybrids, recycle, pollution control, biodegradable packaging |
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| secondary beliefs and values |
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Definition
| more open to change than core. include peoples views of themselves, others, organization, society |
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Definition
| companies linking themselves to a worthwhile cause such as cancer... |
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Definition
| the data collected online is considered secondary data. |
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| use age concept in mailing questionnaire |
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Definition
| average response you get back wont be conclusive, poor response rate, slow collection of data |
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Term
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Definition
simple random- equal chance of selection
stratified random/cluster(area)sampling mutually exclusive groups |
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| culture difference and research costs in international market |
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Definition
| deal with diverse markets (economic level, cultures) must do all research by hand(poor internet/tele services. samples are solely door to door in big cities. |
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Definition
| consumer relationship management - sophisticated software designed to analyze customer information and apply it to better costumer relationships |
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Definition
| six to 10 people with trained moderator. expensive, hard to generalize a result, ppl not always open and honest. |
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| sub culture of people like high quality branded products family oriented and brand loyal. |
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| people who exert social influence on others |
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| a persons pattern of living |
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Definition
human needs hierarchy
self actualization
esteem
social
safety
physiological |
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| the buyers decision process |
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Definition
need recognition
info search
evaluate alternatives
purchase |
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Term
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Definition
| human trates that maybe attributed to a brand (rugged, sophisticated...) |
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Definition
| demand for business goods changes more quickly than demand for consumer goods |
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| deciders and buying center |
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Definition
| make decision on final suppliers |
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Definition
| purchasing on the internet |
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| the world's largest buyer |
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Definition
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| influencer and buying centers |
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Definition
| help define specifications, provide info for evaluating alternatives |
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Definition
| routine purchasing such as a re order with not modification |
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| proposal should contain elements of |
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Definition
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Definition
| divides consumers into groups with similar needs/buying behaviors even though located in different countries |
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| income and market segmentation |
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Definition
| divides markets into affluent of low income consumers |
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Term
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Definition
concentrated marketing
targets a small share of a large market
whole foods |
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| undifferentiated marketing |
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Definition
targets whole market with one offer
mass marketing |
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