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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 |
Created by:
alora1018
Popular Marketing sets