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MKT quiz 2
na
133
Marketing
Undergraduate 2
10/10/2014

Additional Marketing Flashcards

 


 

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Term
consumer behavior
Definition
describes how consumers make purchase decisions and how they use and dispose of the purchased goods and services. it also includes factors that influence purchase decisions and product use
Term
consumer decision-making process
Definition
a five-step process used by consumers when buying goods or services
Term
need recognition
Definition
result of an imbalance between Actual and Desired needs
Term
want
Definition
Recognition of an unfulfilled need and a product that will satisfy it
Term
stimulus
Definition
any unit of input affecting one or more of five senses: sight, smell, taste, touch, hearing
Term
internal information search
Definition
the process of recalling past information stored in the memory
Term
external information search
Definition
the process of seeking information in the outside environment
Term
nonmarketing-controlled information source
Definition
a product information source that is not associated with advertising or promoting like self experience, personal sources, public sources, consumer reports
Term
marketing-controlled information source
Definition
a product information source that originates with marketers promoting the product
Term
evoked set (consideration set)
Definition
a group of brands resulting from an information search from which a buyer can choose
Term
cognitive dissonance
Definition
inner tension that a consumer experiences after recognizing an inconsistency between behavior and values or opinions
Term
involvement
Definition
the amount of time an effort a buyer invests in the search , evaluation, decision processes of consumer behavior
Term
routine response behavior
Definition
the type of decision making exhibited by consumers buying frequently purchased, low-cost goods and services; requires little search and decision time
Term
limited decision making
Definition
the type of decision making that requires a moderate amount of time for gathering information and deliberating about an unfamiliar brand in a familiar product category
Term
extensive decision making
Definition
the most complex type of consumer decision making, used when buying an unfamiliar, expensive product or an infrequently bought item; requires use of several criteria for evaluating options and much time for seeking information
Term
culture
Definition
the set of values, norms, attitudes, and other meaningful symbols that shape human behavior and artifacts, or products, of that behavior as they are transmitted from one generation to the next
Term
value
Definition
the enduring belief that a specific mode of conduct is personally or socially preferable to another mode of conduct
Term
subculture
Definition
a alike group of people who share elements of the overall culture as well as unique elements of their own group
Term
social class
Definition
a group of people who are considered nearly equal in status or community esteem, who regularly socialize among themselves both formally and informally, and who share behavioral norms
Term
reference group
Definition
all of the formal and informal groups in society that influence an individuals purchasing behavior
Term
primary membership group
Definition
a reference group with which people interact regularly in an informal, face-to-face manner, such as family, friends, and coworkers
Term
secondary membership group
Definition
a reference group with which people associate less consistency and more formally than a primary membership group, such as a club, professional group, or religious group
Term
aspirational reference group
Definition
a group that someone would like to join
Term
norm
Definition
a value or attitude deemed acceptable by a group
Term
nonaspirational reference group
Definition
a group with which an individual does not want to associate
Term
opinion leader
Definition
an individual who influences the opinions of others
Term
socialization process
Definition
how culture values and norms are passed down to children
Term
personality
Definition
a way of organizing and grouping the consistencies of an individuals reactions to situations
Term
self concept
Definition
how consumers perceive themselves in terms of attitudes, perceptions, beliefs, and self-evaluations
Term
ideal self-image
Definition
the way an individual would like to be percieved
Term
real self image
Definition
the way an individual actually perceives him or her self
Term
perception
Definition
the process by which people select, organize, ad interpret stimuli into a meaningful and coherent picture
Term
selective exposure
Definition
the process whereby a consumer notices certain stimuli and ignores others
Term
selective distortion
Definition
a process whereby a consumer changes or distorts information that conflicts with his or her beliefs or feelings
Term
selective retention
Definition
a process whereby a consumer remembers only that information that supports his or her personal beliefs
Term
motive
Definition
a driving force that causes a person to take action to satisfy specific needs
Term
Maslow's hierarchy of needs
Definition
a method of classifying human needs and motivations into five categories in ascending order of importance: physiological, safety, social, esteem, and self-actualization
Term
learning
Definition
a process that creates changes in behavior, immediate or expected, through experience and practice
Term
stimulus generalization
Definition
a form of learning that occurs when one response is extended to a second stimulus similar to the first
Term
stimulus discrimination
Definition
a learned ability to differentiate among similar products
Term
belief
Definition
an organized pattern of knowledge that an individual holds as true about his or her words
Term
attitude
Definition
a learned tendency to respond consistently toward a given object
Term
business marketing (industrial marketing)
Definition
the marketing of goods and services to individuals and organizations for purposes other than personal consumption
Term
business-to-business electronic commerce
Definition
the use of the internet to facilitate the exchange of goods, services, and information between organizations
Term
stickiness
Definition
a measure of a websites effectiveness; calculated by multiplying the frequency of visits by the duration of a visit by the number of pages viewed during each visit (site reach)
Term
strategic alliance (strategic partnership)
Definition
a cooperative agreement between business firms
Term
relationship commitment
Definition
a firms beliefs that an ongoing relationship with another firm is so important that the relationship warrants maximum efforts at maintaining it indefinitely
Term
trust
Definition
the condition tat exists when one party has confidence in an exchange partner's reliability and integrity
Term
keiretsu
Definition
a network of interlocking corporate affiliates
Term
original equipment manufacturers (OEMs)
Definition
individuals and organizations tht buy business goods and incorporate them into the products they produce for eventual sale to other producers or to consumers
Term
north american industry classification system (NAICS)
Definition
a detailed numbering system developed by the U.S, Canada and mexico to classify north American business establishments by their main production processes
Term
derived demand
Definition
the demand for business products
Term
joint demand
Definition
the demand for two or more items used together in a final product
Term
multiplier effect (accelerator principle)
Definition
phenomenon in which a small increase or decrease can produce a much larger change in demand for the facilities and equipment needed to make the consumer product
Term
business-to business online exchange
Definition
an electronic trading floor that provides companies with integrated links to their customers an suppliers
Term
reciprocity
Definition
a practice whereby business purchasers chose to buy from their own customers
Term
major equipment (installations)
Definition
capital goods such as large or expensive machines, mainframe computers, blast furnaces, generators, airplanes, an buildings
Term
accessory equipment
Definition
goods, such as portable tools and office equipment, that are less expensive and shorter-lived than major equipment
Term
raw materials
Definition
unprocessed extractive or agricultural products, such as mineral ore, lumber wheat, corn, fruits, vegetables, and fish
Term
component parts
Definition
either finished items ready for assembly or products that need very little processing before becoming part of some other product
Term
processed materials
Definition
products used directly in manufacturing other products
Term
supplies
Definition
consumable items that do not become part of the final product
Term
business services
Definition
expense items that do not become part of a final product
Term
buying center
Definition
all those people in an organization who become involved in the purchase decision
Term
new buy
Definition
a situation requiring the purchase of a product for the first time
Term
modified rebuy
Definition
a situation in which the purchaser wants some change in the original good or service
Term
straight rebuy
Definition
a situation n which the purchaser reorders the same goods or services without looking for new information or investing other suppliers
Term
market
Definition
people or organizations with needs or wants and the ability and willingness to buy
Term
market segment
Definition
a subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs
Term
market segmentation
Definition
the process of dividing market into meaningful relatively smaller, and identifiable segments or groups
Term
segmentation bases (variables)
Definition
characteristics of individuals, groups, or organizations
Term
geographic segmentation
Definition
segmenting markets by region of a country or the world, market size, market density, or climate
Term
demographic segmentation
Definition
segmenting markets by age, gender, income, ethic background, family life cycle
Term
family life cycle (FLC)
Definition
a series of stages determined by a combination of age, marital status, and the presence or absence of children
Term
psychographic segmentation
Definition
segmenting markets on the basis of personality, motives, lifestyles, and geodemographics
Term
geodemographic segmentation
Definition
segmenting potential customers into neighborhood lifestyle categories
Term
benefit segmentation
Definition
the process of grouping customers into market segments according to the benefits they seek from the product
Term
usage-rate segmentation
Definition
dividing market by the amount of product bought or consumed
Term
80/20 principle
Definition
a principle holding that 20 percent of all customers generate 80 percent of the demand
Term
satisficers
Definition
business customers who place an order with he first familiar supplier to satisfy product and delivery requirements
Term
optimizers
Definition
business customers who consider numerous suppliers (both familiar and unfamiliar), solicit bids, and study all proposals carefully before selecting one
Term
target market
Definition
a group of people or organizations for which an organization designs, implements, and maintains a marketing mix intended to meet the needs of hat group, resulting in mutually satisfying exchanges
Term
concentrated target strategy
Definition
a strategy used to select one segment of a market for targeting marketing efforts
Term
niche
Definition
on segment of a market
Term
multisegment targeting strategy
Definition
a strategy that chooses two or more well-defined market segments and develops a distinct marketing mix for each
Term
cannibalization
Definition
a situation that occurs when sales of a new product cut into sales of a firms existing products
Term
positioning
Definition
developing a specific marketing mix into the potential customers overall perception of a brand, product line or organization in general
Term
position
Definition
the place a product, brand, or group of products occupies in consumers minds relative to competing offerings
Term
product differentiation
Definition
a positioning strategy that some firms use to distinguish their product from those of those of competitors
Term
perceptual mapping
Definition
a means of displaying or graphing, n two or more dimensions, the location of products of products in customers minds
Term
repositioning
Definition
changing consumers perceptions of brand in relation to competing brands
Term
marketing research
Definition
the process planning, collection, and analyzing data relevant to a marketing decision
Term
marketing research problem
Definition
determining what information is needed and how that information can be obtained efficiently and effectively
Term
marketing research objective
Definition
the specific information needed to solve a marketing research problem; the objective should be to provide insightful decision-making information
Term
management decision problem
Definition
a broad-based problem that uses marketing research in order for managers to take proper actions
Term
secondary data
Definition
data previously collected for any purpose other than the one at hand
Term
research design
Definition
specifies which research questions must be answered, how and when the data will be gathered, and how the data will be analyzed
Term
primary data
Definition
information that is collected for the first time; used for solving the particular problem under investigation
Term
survey research
Definition
the most popular technique for gathering primary data, in which a researcher interacts with people to obtain facts, opinions, and attitudes
Term
mall intercept interview
Definition
a survey research method that involves interviewing people in the common area of shopping malls
Term
computer assisted persona interviewing
Definition
an interviewing method in which the interviewer reads questions from a computer screen and enters the respondents data directly into the computer
Term
computer assisted self-interviewing
Definition
an interviewing method in which a mall interviewer intercepts and directs wiling respondents to nearby computers where each respondent reads questions off a computer screen and directly keys his or her answers into the computer
Term
central-location telephone CLT facility
Definition
a specially designed phone room used to conduct telephone interviewing
Term
executive interview
Definition
a type of survey that involves interviewing businesspeople at their offices concerning industrial products or services
Term
focus group
Definition
seven to ten people who participate in a group discussion led by a moderator
Term
open ended question
Definition
an interview question that encourages an answer phrased in the respondents own words
Term
closed ended question
Definition
an interview question that asks the respondent to make a selection from a limited list of responses
Term
scaled response question
Definition
a closed ended question designed to measure the intensity of a respondents answer
Term
observation research
Definition
a research method tat relies on four type of observation; people watching people, people watching an activity machines watching people, and machines watching an activity
Term
mystery shoppers
Definition
researchers posing as customers who gather observational data about a store
Term
behavioral targeting
Definition
a form of observation marketing research that combines consumers online activity with psychographic and demographic profiles complied in databases
Term
social media monitoring
Definition
the use of automated tool to monitor online buzz, chatter, and conversations
Term
big data
Definition
the exponential growth in the volume, variety, and velocity of information and the development of complex, new tools to analyze and create meaning from such data
Term
ethnographic research
Definition
the study of human behavior in its natural context; involves observation of behavior and physical setting
Term
experiment
Definition
a method of gathering primary data in which the researcher alters one or more variables while observing the effects of those alterations on another variable
Term
sample
Definition
a subset from a large population
Term
universe
Definition
the population from which a sample will be drawn
Term
probability sample
Definition
a sample in which every element in the population has a known statistical likelihood of being selected
Term
random sample
Definition
a sample arranged in such a way that every element of population has an equal chance of being selected as part of the sample
Term
nonprobability sample
Definition
any sample in which little or no attempt is made to get a representative cross section of popultion
Term
convenience sample
Definition
a form of nonprobability sample using respondents who are convenient or readily accessible to the researcher- for example, employees, friends, or relatives
Term
measurement error
Definition
an error that occurs when there is a difference between the information tested by the researcher and the information provided by the measurement process
Term
sampling error
Definition
an error that occurs when a sample somehow does not represent the target population
Term
frame error
Definition
an error that occurs when a sample drawn from a population differs from the target population
Term
random error
Definition
n error that occurs when the selected sample is an imperfect representation of the overall population
Term
field service firm
Definition
firm that specialize in interviewing respondents on a subcontracted basis
Term
cross-tabulation
Definition
a method of analyzing data that lets the analyst look t the responses to one question in relation to the responses to one or more other questions
Term
consumer generated media
Definition
media that consumers generate and share among themselves
Term
scanner based research
Definition
a system for gathering information from a single group of respondents by continuously monitoring the advertising, promotion, and pricing they are exposed to and the things they buy
Term
behavior scan
Definition
a scanner based research program that tracks the purchases of 3,000 households through store scanners in each research market
Term
infoscan
Definition
scanner based sales tracking service for the consumer packaged- goods industry
Term
neuromarketing
Definition
a field of marketing that studies the bodys responses to marketing stimuli
Term
competitive intelligence
Definition
an intelligence system that helps managers asses their competition and vendors in order to become ore efficient and effective competitors
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