Term
|
Definition
| The want-satisfyig power of a product (p20) |
|
|
Term
|
Definition
| focus on the quality and quantity of offerings while assuming that customers will seek out an buy reasonably well-made products |
|
|
Term
|
Definition
| companies identify what customers want and tailor all the activities of the firm to satisgy those needs as efficiently as possible (p8) |
|
|
Term
|
Definition
| characterized by a heavy reliance on promotional activity to sell the products the firm of a firms's resources, and sales exectuives began to gain respect and responsibility from company management. (p8) |
|
|
Term
| customer orientation(p10) |
|
Definition
| every department and employee should be focused on contributing to the satisfaction of customers' needs. |
|
|
Term
|
Definition
| Using this model, an organization calssifies each of its SBUs according to two factors: its market share relative to competitors and the growth rate of the industry in which the SBU operates. (p572) |
|
|
Term
| GE Business Screen (p575) |
|
Definition
| planning model, developed by General Electric with the assisteance of the McKinsey consulting firm, also involves two factors an results in a grid. (p575) |
|
|
Term
| economic conditions – business cycle (p32) |
|
Definition
| goes through four stages - prosperity, recession, depression, and recovery-then returns full cycle to properity. (p32) |
|
|
Term
| economic conditions – inflation (p33) |
|
Definition
| A rise in the prices of goods and services. (p33) |
|
|
Term
| economic conditions – interest rate (p33) |
|
Definition
| another external economic factor that influences marketing programs. (p33) |
|
|
Term
|
Definition
| a formal, long-term agrement between firms to combine their capabilities and resources to acomplish global objectives with out joint ownership. (p65) |
|
|
Term
| marketing intermediaries (p43) |
|
Definition
| indepentdent buisnes organizations that directly aid in the flow of goods and serveices between a marketing organiztation and its markets. (p43) |
|
|
Term
|
Definition
| the characteristics of populations, including such factors as size, distribution, and growth. (p30) |
|
|
Term
|
Definition
| examining attributes related to how a person thinks, feels, and behaves. (p148) |
|
|
Term
| external environmental forces (p42) |
|
Definition
| These are the firm's markety, suppliers, and marketing intermediaries. (p42) |
|
|
Term
|
Definition
| A complex set of symbols and artifacts created by a society and handed down from generation to genteration as deterinatns and regulators of human behavior. (p97) |
|
|
Term
|
Definition
| groups in a culture that exhibit characteristics behavior patterns sufficient to distinguish them from other groups within the same culture (p97) |
|
|
Term
|
Definition
| groups of people who influence a person's attitudes, values, and behavior. (p99) |
|
|
Term
| Maslow's hierarchy of needs - physiological (p101) |
|
Definition
| needs for food, drink, sex, and shelter (p101) |
|
|
Term
| Maslow's hierarchy of needs - safety (p101) |
|
Definition
| needs for security, protection, and order (pg101) |
|
|
Term
| Maslow's hierarchy of needs - belonging and love (p101) |
|
Definition
| needs for affection, belonging to a group, an acceptance (pg101) |
|
|
Term
| Maslow's hierarchy of needs - esteem (p101) |
|
Definition
| needs for self-respect, reputation, prestige, and status (pg101) |
|
|
Term
| Maslow's hierarchy of needs - self-actualization (p101) |
|
Definition
| needs for self-fulfillment (pg101) |
|
|
Term
|
Definition
| buy goods and services for their own personal or household use. (p86) |
|
|
Term
|
Definition
| any good or service purchased for a reason other than personal or household consumption. (p114) |
|
|
Term
| non-business market (p119) |
|
Definition
| consist of organizations that do not have profit-making as a primary objective. (p119) |
|
|
Term
| leasing (advantages) (p136) |
|
Definition
| avoid maintenance expenses, can't afford large equipment, try out new products (p136) |
|
|
Term
| leasing (disadvantages) (p136) |
|
Definition
| allows user to reatin their investment capital, firms can enter a new business for less capital, maintained by lessors, need equipment seasonally or sporadically. (p136) |
|
|
Term
|
Definition
| most difficult an complex buying situation because it is a first-time purchase of a major product. (p130) |
|
|
Term
|
Definition
| routine, low-involvement purchase with minimal information needs and little consideration of alternatives. The buyer has experience with the seller. (p130) |
|
|
Term
|
Definition
| a buyer would consider a small number of reputable suppliers and evaluate the new features added to the equipment since its last purchase. (p131) |
|
|
Term
|
Definition
| REfers to how responsive demand is to a change in the price of a product. (p121) |
|
|
Term
|
Definition
| the total demand for all producers of the product responds very little to changes in its price. (p121) |
|
|
Term
|
Definition
| generated from the demand for the consumer products in which that business product is used. (p120) |
|
|
Term
|
Definition
| the proportion of total sales of a product during a stated period in a specific market that is captured by a single firm. (p160) |
|
|
Term
| geographic segmentation (p146) |
|
Definition
| Subdividing markets into segments based on location-the regions, counties, cities, and towns where people live and work. (p146) |
|
|
Term
| demographic segmentation (p148) |
|
Definition
| Subdividing markets into segments based on age, gender, occupation, income, and education. (p148) |
|
|
Term
| psychographic segmentation (p148) |
|
Definition
| examining attributes related to how a person thinks, feels, and behaves. (p148) |
|
|
Term
| behavioral segmentation (p150) |
|
Definition
| two approaches: the benefits desired from a product and the rate at which the consumer uses the product. (p150) |
|
|
Term
| positioning strategies (p157) |
|
Definition
| a firm's use of all the elements at its dispostal to create and maintain in the minds of a taget market a particular image relative to competing products. (p157) |
|
|
Term
| repositioning strategies (p159) |
|
Definition
| When a position has eroded, and a firm attempts to reestablish its attractiveness. (p159) |
|
|
Term
|
Definition
| a tentative supposition that if suppported, would suggest a possible solution to a problem. (p179) |
|
|
Term
| Primary data-gathering method (p181) |
|
Definition
| methods of gathering data focus groups, survey, observational experiential. (p181) |
|
|
Term
| formal investigation (p180) |
|
Definition
| If a project warrants a continued investigation, the researcher must determine what addistional information is needed and how to gather it. (p180) |
|
|
Term
| informal investigation (p180) |
|
Definition
| consists of gathering readily available information from relevant people inside and outside the comapany-middlemen, competitors, advertising agencies, and consumers. (p180) |
|
|
Term
|
Definition
| a group of people or organizations at which a firm direcs a marketing program. (566) |
|
|
Term
|
Definition
| the combination of multiple aspects of the following four elemetns: a product, how it is distributed and promoted, and its price. (p566) |
|
|
Term
|
Definition
| the limited amount of time in which a firm's resources coincides with a particular market opportunity. (p559) |
|
|
Term
|
Definition
| an entity should be a separately identifiable business, have a distinct mission, have its own competitors, and have its own exectutive team with profit responsibility. (p569) |
|
|
Term
| long-range planning (p561) |
|
Definition
| deals with company wide issues such as expanding or contracting production, markets, and product lines. (p561) |
|
|
Term
| short range planning (p562) |
|
Definition
| covers one year or less and is the responsibility of middle- and lower-level managers. (p562) |
|
|
Term
|
Definition
| When imports exceed exports, the balance is negative. (p51) |
|
|
Term
|
Definition
| the difference between what is exports and what it imports. (p51) |
|
|
Term
|
Definition
| buy goods and services for their own personal or household use. (p86) |
|
|
Term
|
Definition
|
|
Term
|
Definition
| new data gathered specifcally for the project at hand. (p180) |
|
|
Term
|
Definition
| available data, already gathered for some other purpose. (p180) |
|
|
