Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
MKTG 301 Test 2
Test 2 Material
| Term | Definition |
|---|---|
| Marketing Information | Everyday information about developments in the marketing environment that managers use to prepare and adjust marketing plans |
| Decision Support System (DSS) | An interactive, flexible, computerized information system that enables managers to obtain and manipulate information as they are making decisions. |
| Database Marketing | The creation of a large computerized file of customers' and potential customers' profiles and purchase patterns |
| Marketing Research | The process of planning, collecting and analyzing data relevant to a marketing decision |
| Marketing Research Problem | Determining what information is needed and how that information can be obtained efficiently and effectively |
| Marketing Research Objective | The specific information needed to solve a marketing research problem; this should provide insightful decision-making information |
| Management Decision Problem | A broad-based problem that uses marketing research in order for managers to take proper actions |
| Secondary Data | Data previously collected for any purpose other than the one at hand |
| Marketing Research Aggregator | A company that acquires, catalogs, reformats, segments and resells reports already published by marketing research firms |
| Research Design | Specifies which research questions must be answered, how and when the data will be gathered and how the data will be analyzed` |
| Primary Idea | Information that is collected for the first time; used for solving the particular problem under investigation |
| Survey Research | The most popular technique for gathering primary data, in which a researcher interacts with people to obtain facts, opinions and attitudes |
| Mall Intercept Interview | A survey research method that involves interviewing people in the common areas of shopping malls |
| Computer-Assisted Personal Interviewing | An interviewing method in which in the interviewer reads the questions from a computer screen and enters the respondent's data directly into the computer |
| Computer-Assisted Self Interviewing | An Interviewing method in which a mall interviewer intercepts and directs willing respondents to nearby computers where each respondent reads questions off a computer screen and directly keys in his/her answers into a computer |
| Central-Locaiton Telephone (CLT) Facility | A specially designed phone room used to conduct telephone interviewing |
| Executive Interview | A type of survey that involves interviewing businesspeople at their offices concerning industrial products or services |
| Focus Group | Seven to ten people who participate in a group discussion led by a moderator |
| Open-Ended Question | An interview question that encourages an answer phrased in the respondent's own words |
| Closed-Ended Question | An interview question that asks the respondent to make a selection from a limited list of responses |
| Scaled-Response Question | A closed-ended question designed to measure the intensity of a respondent's answer |
| Observation Research | A research method that relies on four types of observation: people watching people, people watching an activity, machines watching people and machines watching an activity |
| Mystery Shoppers | Researchers posing as customers who gather observational data about a store |
| Behavioral Targeting (BT) | A form of observation marketing research that combines a consumer's online activity with psychorgraphic and demographic profiles compiled in databases |
| Ethnographic Research | The study of human behavior in its natural context; involves observation of behavior and physical setting |
| Experiment | 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 |
| Sample | A subset from a larger population |
| Universe | The population from which a sample will be drawn |
| Probability Sample | A sample in which every element in the population has a known statistical likelihood of being selected |
| Random Sample | A sample arranged in such a way that every element of the population has an equal chance of being selected as part of the sample |
| Non-Probability Sample | Any sample in which little or no attempt is made to get a representative cross section of the population |
| Convenience Sample | A form of nonprobability sample using respondents who are convenient or readily accessible to the researcher - for example, employees, friends or relatives |
| Measurement Error | An error that occurs when there is a difference between the information desired by the researcher and the information provided by the measurement process |
| Sampling Error | An error that occurs when a sample somehow does not represent the target population |
| Frame Error | An error that occurs when a sample drawn from a population differs from the target population |
| Random Error | An error that occurs when the selected sample is an imperfect representation of the overall population |
| Field Service Firm | A firm that specializes in interviewing respondents on a subcontracted basis |
| Cross-Tabulation | A method of analyzing data that lets the analyst look at the responses to one question in relation to the responses to one or more other questions |
| Consumer-Generated Media (CGM) | Media that consumers generate and share among themselves |
| Scanner-Based Research | 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 |
| BehaviorScan | A scanner-based research program that tracks the purchases of 3,000 households through store scanners in each research market |
| InfoScan | A scanner-based sales-tracking service for the consumer packaged-goods industry |
| Neuromarketing | A field of marketing that studies the body's responses to marketing stimuli |
| Competitive Intelligence (CI) | An intelligence system that helps managers assess their competition and vendors in order to become more efficient and effective competitors |
| Product Mix Width | The number of products lines an organization offers |
| Product Line Depth | The number of product items in a product line |
| Product Modification | Changing one or more of a product’s characteristics |
| Planned Obsolescence | The practice of modifying products so those that have already been sold become obsolete before the actually need replacement |
| Product Line Extension | Adding additional products to an existing product line in order to compete more broadly in the industry |
| Brand | A name, term, symbol, design or combination thereof that identifies a seller’s products and differentiates them from competitor’s products |
| Brand Name | The part of a brand that can be spoken, including letters, words and numbers |
| Brand Mark | The elements of a brand that cannot be spoken |
| Brand Equity | The value of company and brand names |
| Global Brand | A brand that obtains at least of a third of its earnings from outside its home country, is recognizable outside its home base of customers and has publicity available marketing and financial data |
| Brand Loyalty | Consistent preference for one brand over all the others |
| Manufacturer’s Brand | The brand name of a manufacturer |
| Private Brand | A brand name owned by a wholesaler or a retailer |
| Captive Brand | A brand manufactured by a third party for an exclusive retailer, without evidence of that retailer’s affiliation |
| Individual Branding | Using different brand names for different products |
| Family Branding | Marketing several different products under the same brand name |
| Co-Branding | Placing two or more brand names on a product of its package |
| Trademark | The exclusive right to use a brand or part of a brand |
| Service Mark | A trademark for a service |
| Generic Product Name | Identifies a product by class or type and cannot be trademarked |
| Persuasive Labeling | A type of package labeling that focuses on a promotional theme or logo and consumer information is secondary |
| Informational Labeling | A type of package labeling designed to help consumers make proper product selections and lower their cognitive dissonance after the purchase |
| Universal Product Codes (UPCs) | A series of thick and thin vertical lines (bar codes), readable by computerized optical scanners, that represent numbers used to track products |
| Warranty | A confirmation of the quality or performance of a good or service |
| Express Warranty | A written guarantee |
| Implied Warranty | An unwritten guarantee that the good or service is fit for the purpose for which it was sold |
| New Product | A product new to the world, the market, the producer, the seller or some combination of these |
| New-Product Strategy | A plan that links the new-product development process with the objectives of the marketing department, the business unit and the corporation |
| Product Development | A marketing strategy that entails the creation of marketable new products; the process of converting applications for new technologies into marketable products |
| Brainstorming | The process of getting a group to think of unlimited ways to vary a product or solve a problem |
| Screening | The first filter in the product development process, which eliminates ideas that are inconsistent with the organization’s new-product strategy or are obviously inappropriate for some other reason |
| Concept Test | A test to evaluate a new-product idea, usually before any prototype has been created |
| Business Analysis | The second of the screening processes where preliminary figures for demand, cost, sales and profitability are calculated |
| Development | The stage in the product development process in which a prototype is developed and a marketing strategy is outlined |
| Simultaneous Product Development | A team-oriented approach to new-product development |
| Test Marketing | The limited introduction of a product and a marketing program to determine the reactions of potential customers in a market situation |
| Simulated (Laboratory) Market Testing | The presentation of advertising and other promotional materials for several products, including a test product, to members of the product’s target market |
| Commercialization | The decision to market a product |
| Innovation | A product perceived as new by a potential adopter |
| Diffusion | The process by which the adoption of an innovation spreads |
| Product Life Cycle (PLC) | A concept that provides a way to trace the stages of a product’s acceptance, from its introduction (birth) to its decline (death) |
| Product Category | All brands that satisfy a particular type of need |
| Introductory Stage | The full-scale launch of a new product into the marketplace |
| Growth Stage | The second stage of the product life cycle when sales typically grow at an increasing rate, many competitors enter the market, large companies may start to acquire small pioneering firms and profits are healthy |
| Maturity Stage | A period during which sales increase at a decreasing rate |
| Decline Stage | A long-run drop in sales |
| Service | The result of applying human or mechanical efforts to people or objects |
| Intangibility | the inability of services to be touched, seen, tasted, heard or felt in the same manner that goods can be sensed |
| Search Quality | A characteristic that can be easily assessed before purchase |
| Experience Quality | A characteristic that can be assessed only after use |
| Credence Quality | A characteristic that consumers may have difficulty assessing even after purchase because they do not have the necessary knowledge or experience |
| Inseparability | The inability of the production and consumption of a service to be separated; consumers must be present during the production |
| Heterogeneity | The variability of the inputs and outputs of services, which causes services to tend to be less standardized and uniform than goods |
| Perishability | The inability of services to be stored, warehoused or inventoried |
| Reliability | The ability to perform a service dependably, accurately and consistently |
| Responsiveness | The ability to provide prompt service |
| Assurance | The knowledge and courtesy of employees and their ability to convey trust |
| Empathy | Caring, individualized attention to customers |
| Tangibles | The physical evidence of a service, including the physical facilities, tools and equipment used to provide the service |
| Gap Model | A model identifying five gaps that can cause problems in service delivery and influence customer evaluations of service quality |
| Core Service | The most basic benefit the customer is buying |
| Supplementary Service | A group of services that support or enhance the core service |
| Mass Customization | A strategy that uses technology to deliver customized services on a mass basis |
| Internal Marketing | Treating employees as customers and developing systems and benefits that satisfy their needs |
| Nonprofit Organization | An organization that exists to achieve some goal other than the usual business goals of profit, market share or return on investment |
| Nonprofit Organization Marketing | The effort by nonprofit organizations to bring about mutually satisfying exchanges with target markets |
| Public Service Advertisement (PSA) | An announcement that promotes a program or a federal, state or local government or of a nonprofit organization |
| Marketing Channel (Channel of distribution) | A set of interdependent organizations that eases the transfer of ownership as products move from producer to business user or consumer |
| Channel Members | All parties in the marketing channel who negotiate with one another, buy and sell products and facilitate the change of ownership between buyer and seller in the course of moving the product from the manufacturer into the hands of the final consumer |
| Discrepancy of Quantity | The difference between the amount of product produced and the amount an end user wants to buy |
| Discrepancy of Assortment | The lack of all the items a customer needs to receive full satisfaction from the product or products |
| Temporal discrepancy | A situation that occurs when a product is produced by a customer is not ready to buy it |
| Spatial Discrepancy | The difference between the location of a producer and the location of widely scattered markets |
| Retailer | A channel intermediary that sells mainly to consumers |
| Merchant Wholesaler | An institution that buys goods from manufacturers and resells them to businesses, government agencies and other wholesalers or retailers and the receives and takes title to goods, stores them in its own warehouses and later ships them |
| Agents and Brokers | Wholesaling intermediaries who do not take title to a product but facilitate its sale from producer to end user by representing retailers, wholesalers or manufacturers |
| Logistics | Efficient and cost-effective forward and reverse flow and storage of goods, services and related information into, through, and out of channel member companies |
| Direct Channel | A distribution channel in which producers sell directly to consumers |
| Dual Distribution (Multiple Distribution) | The use of two or more channels to distribute the same product to target markets |
| Strategic Channel Alliance | A Cooperative agreement between business firms to use the others already established distribution channel |
| Intensive Distribution | A form of distribution aimed at having a product available in every outlet where target customers might want to buy it |
| Selective Distribution | a form of distribution achieved by screening dealers to eliminate all but a few in any single area |
| Exclusive Distribution | A form of distribution that establishes one or a few dealers within a given area |
| Arms Length Relationship | Relationship between companies that is loosely characterized by low relational investment and trust and usually taking the form of a series of discrete transactions with no or low expectation of future interaction or service |
| Cooperative Relationship | A relationship between companies that takes the form of in formal partnership with moderate levels of trust and information sharing as needed to further each company's goals |
| Integrated Relationship | A relationship between companies that is tightly connected with a linked processes across and between firm boundaries of high levels of trust and interfirm commitment |
| Horizontal conflict | A channel conflict that occurs among channel members on the same level |
| Vertical Conflict | A channel conflict that occurs between different levels in a marketing channel, most typically between the manufacturer and wholesaler or between the manufacturer and retailer |
| Channel Partnering (Channel Cooperation) | The joint effort of all channel members to create a channel that serves customers and creates a competitive advantage |
| Retailing | All the activities directly related to the sale of goods and services to the ultimate consumer for personal, nonbusiness use |
| Independent Retailer | A retailer owned by a single person or partnership and not operated as part of a larger retail institution |
| Chain Store | A store that is part of a group of the same stores owned and operated by a single organization |
| Franchise | The right to operate a business or to sell a product |
| Gross Gain | The amount of money the retailer makes as a percentage of sales after the cost of goods sold is subtracted |
| Department Store | A store housing several departments under one roof |
| Buyer | A department head who selects the merchandise for his or her department and may also be responsible for promotion and personnel |
| Specialty Store | A retail store specializing in a given type of merchandise |
| Supermarket | A large, departmentalized, self-service retailer that specializes in food and some nonfood items |
| Scrambled Merchandising | The tendency to offer a wide variety of nontraditional goods and services under one roof |
| Drugstore | A retail store that stocks pharmacy-related products and services as its main draw |
| Convenience Store | A miniature supermarket, carrying only a limited line of high-turnover convenience goods |
| Discount Store | A retailer that competes on the basis of low prices, high turnover and high volume |
| Full-Line Discount Store | A retailer that offers consumers very limited service and carries a broad assortment of well-known, nationally branded “hard goods” |
| Mass Merchandising | A retailing strategy using moderate to low prices on large quantities of merchandise and lower levels of service to simulate high turnover of products |
| Supercenter | A retail store that combines groceries and general merchandise goods with a wide range of services |
| Specialty Discount Store | A retail store that offers a nearly complete selection of single-line merchandise and uses self-service, discount prices, high volume and high turnover |
| Category Killer | A specialty discount store that heavily dominates it's narrow merchandise segment |
| Warehouse Membership Club | A limited service merchant wholesaler that sells a limited selection of brand-name appliances household items and groceries on a cash and carry basis to members usually small businesses and groups |
| Off-Price Retailer | A retailer that sells at prices 25% or more below traditional department store prices because it pays cash for a stock and usually does not ask for return privileges |
| Factory Outlet | An off-price retailer that is owned and operated by manufacturer |
| Non-Store Retailing | shopping without visiting a store |
| Automatic Vending | The use of machines to offer goods for sale |
| Direct Retailing | The selling of products by representatives who work door-to-door office to office or home sales parties |
| Direct Marketing (direct response marketing) | techniques used to get consumers to make a purchase from their home office or other nonretail setting |
| Telemarketing | The use of the telephone to sell directly to customers |
| Online Retailing | A type of shopping available to consumers with personal computers and access to the Internet |
| Franchisor | The originator of a tradename product methods of operation and the like that grants operating rights to another party to sell its product |
| Franchise | An individual or business that is granted the right to sell another party's product |
| Retailing Mix | A combination a combination of the six ps product place promotion price presentation and personnel to sell goods and services to the ultimate consumer |
| Product Offering | The mix of products offered to the consumer by the retailer also called the product assortment or merchandise mix |
| Destination Store | A store that consumers purposely plan to visit |
| Atmosphere | The overall impression conveyed by a store's physical layout Pecore and surroundings |
Created by:
alexkolotos
Popular Marketing sets