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Marketing Exam 2

Extra

TermDefinition
perceptual map a means of displaying in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how they perceive competing products or brands, as well as the firm’s own product or brand.
“Tiffany/Walmart” strategy selling to high-end and low-end segments.
Open innovation practices that encourage the use of external and internal ideas.
Focus groups Informal session of customers who are asked for opinions
Standard test markets sell through normal distribution in select cities
Controlled test markets contract test program to outside service
Simulated test markets replicate full-scale test market
International firms markets in other countries same as home country
Multinational firms markets differently to each country
Transnational firms emphasize universal consumer needs
Created by: user-2068582
 

 



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