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MKTG 351 Exam 1
MONGA
14
Marketing
Undergraduate 4
09/14/2011

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Cards

Term
MARKETING CONCEPT
Definition
suggests an organization should satisfy consumer needs and wants to make profits.
Term
Consumer Behavior
Definition
the dynamic interaction of affect and cognition, behavior, and the environment by which human beings conduct the exchange of aspect in their lives.
Term
affect
Definition
refers to their feelings about stimuli and events such as whether they like or dislike a product
Term
cognition
Definition
refers to their thinking, such as their beliefs about a particular product
Term
behavior
Definition
refers to the physical actions of consumers that can be directly observed and measured by others
Term
environment
Definition
refers to everything external to consumers that influences what they think, feel, and do.
Term
reciprocal system
Definition
any of the elements can be either a cause or an effect of a change at any particular time.
Term
marketing strategy
Definition
a set of stimuli placed in consumers' environments designed to influence their affect, cognition, and behavior.
Term
market segmentation
Definition
the process of dividing a market into groups of similar consumers and selecting the most appropriate groups and individuals for the firm to serve
Term
benefit segmentation
Definition
the benefits people seek in consuming a given product are the basic reasons for existence of true market segments
Term
psychographic segmentation
Definition
divides markets on differences in consumer lifestyles
Term
person/situation segmentation
Definition
divided on the basis of the usage situation on conjunction with individual differences among consumers.
Term
geodemographic segmentation
Definition
identifies specific households in a market by focusing on local neighborhood geography to create classifications of consumers
Term
product positioning
Definition
positioning the product relative to competing products in the minds of consumers
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