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Basic Mkting 5,6,7,8
Question | Answer |
---|---|
what dimensions are relevant in segmenting the market? | demographic, psychographic, behavioral and others |
how concentrated the population is in a particular area | population density |
movement of people from rural areas into more industrialized urban areas | urbanization |
believe the customers should be the focus of all business and market activity | target marketers |
widely used measure of national income that is the total market value of all goods and serivces provided in a country's economy in a year by both residnets and nonresidents of that county | gross domestic product GDP |
income that is adjusted to take out the effects of inflation on purchasing power | real income |
what is left of disposable income after paying for necessities | discretionary income |
people who know all the facts and logically compare choices to get the greatest satisfaction from spending their time and money | economic buyers |
concerned with making the best use of a consumer's time and money, as the consumer judges it | economic needs |
economy of purchase or use | economic need |
efficiency in operation or use | economic need |
improvement of earnings | economic need |
convenience | economic need |
basic forces that movitvate a person to do something | needs |
"needs" that are learned during a person's life | wants |
strong stimulus that encourages action to reduce needs | drive |
concerned with biological needs, food liquid, rest and sex | phsiological needs |
concerned with love friendship status and esteem, things that invovle a person's interaction with others | social needs |
concerned with protectio and physical well being, health, security medicine and excercise | saftey needs |
concerned with an individual's need for personal satisfaction, self esteem, accomplishment, fun freedom and relaxation | personal needs |
how we gather and interpret information for the world around us | perception |
a change in a person'sthought processes caused by prior experience | learning |
an effort to satisfy a drive | response |
of the learning process occurs when the response is follwed by satisfaction, that is, reduction in the drive | reinforcement |
person's point of view toward something | attitude |
a person's opinion about something | belief |
an outcome or event that a person anticipates or looks forward to | expectation |
group of peopel who have approximately equal social position as viewed by others in the society | social class |
people to whom an individual looks when forming attitudes about a praticular topic | reference group |
person who influences others | opinion leader |
whole set of beliefs, attitudes and ways of doing things of reasonable homogeneous set of people | culture |
when they put much effort into deciding how to satisfy a need | extensive problem solving |
used by consumbers when some effort is required in deciding the best way to satisfy a need | limited problem solving |
when he or she regularly selects a particular of satisfying a need when it occurs | routinized response behavior |
purchases that have little importance or relevance for the customer | low-involvement purchases |
felling of uncertainty about whether the correct decision was made | dissonance |
the steps individuals go thrgouh on the way to accepting or rejecting a new idea | adoption process |
any buyers who buy for resale or to produce other goods and services | business and organizational customers |
written or electronic description of what a frim wants to buy | purchasing specifications |
way for a supplier to document its quality procedures according to internationall recognized standards | iso 9000 |
buying specialist for their employers | purchasing managers |
several people share in making a purchase decision, perhaps even management | multiple buying influence |
all the people who participate in or influence a purchase | buying center |
formal rating of suppliers on all relevant areas of performance | vendor analysis |
a request to buy something | requisition |
when an organization has a new need and the buyer wants a great deal of information | new task buying |
a routine repurchase that may have been made many times before | straight rebuy |
the in-between process where some review of the buying situation is done, though not as much as in new task buing or as little as in straight rebuys | modified rebuy |
terms of sale offered by different suppliers in response to the buyers purchase specifications | competitive bid |
reliably getting products there just before the customer needs them | just in time delivery |
agreeing to a contract that allows for changes in the purchase arrangements | negotiated contract buying |
contract with an outside firm to produce goods or services rather than to produce them internally | outsource |
codes use to id groups of firms in similar lines of business | Noth American Industry Clasification System NAICS |
a buyer has budget funds that he can spend during the current time period | open to buy |
independent buying agents who work in central markets for several retailer or wholesaler cusotmers based in outlying areas or other countryies | resident buyers |
a law passed by the US congress in 1977 that prohibits us firms from paying bribes to foreign officials | foreign corrupt practices act |
procedures to develp and analyze new information to hlep marketing managers make decisions | marketing research |
an organized way of continually gathering, accessing and analyzing information that marketing managers need to make decisions | marketing inforamtion systm MIS |
a place where databases are stored so that they are available where needed | data warehouse |
system for linking computers within a company | intranet |
computer program that helps a marketing manager find inofmraiton that is needed | search engine |
comptuer display of up to the minute data is an easy to read format customized to the manager's area of responsiblity | marketing dashboard |
statemt of relationships among marketing variables | marketing model |
a decision making approach hat focuses on being objective and orderly in testing ideas before accpeting them | scientific method |
educated guesses about the relationships between things or about what will happen in the future | hypotheses |
5 step application of the scientific method that includes, 1. defining the proble, 2. analyzing the situation, 3. getting problem specific data, 4 interpreting the data and 5. solving the problem | marketing research process |
an informal study of what information is already available in the problem area | situation analysis |
information that has been collected or published already | secondary data |
information specifically collected to solve a current problem | primary data |
a plan that specifies what marketing research information will be obtained and how | research proposal |
seeks in depth, open ended responses, not yes or no answers | qualitative research |
an interview of 6 to 10 people in an informal group setting | focus group interview |
percent of people contacted in a research sample who completed the questionnaire | response rate |
group of consumers who provide information on a continuing basis | consumber panels |