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Marketing Test 2
Marketing
| Question | Answer |
|---|---|
| economic buyers-- people who know all the facts and logically compare choices to get the greatest satisfaction from the spending of their time and money | |
| economic needs | are concerned with making the best use of a consumer's time and money as the consumer judges it. |
| needs | are the basic forces that motivate a person to do something |
| wants | are" the needs" that are learned during a person's lifetime |
| drive | strong stimulus that encourages action yo reduce a need |
| physiological needs | concerned with biological needs-- food, drink, rest, and sex |
| customer satisfaction | is the extent to which a firm fulfills a customer's needs, desires, or expectations |
| safety needs | are concerned with protection and physical well- being ( perhaps involving exercise). |
| social needs | are concerned with love, friendship, status, and esteem-- things that involve action with others |
| personal needs | on the other hand are concerned with an individuals needs for a personal satisfaction--- need for personal satisfaction unrelated to what others think or do. |
| motivation theory | suggest that we never reach a state of complete satisfaction. |
| perception | how we gather and interpret information from the world around us |
| selective exposure | our eyes and minds seek out and notice info that interest us. |
| selective perception | we screen out or modify ideas, messages, and information that conflict with previously learned attitudes and beliefs. |
| selective retention | we remember only what we want to remember. |
| learning | is a change in a person's thought process cause by prior experience |
| cues | products, signs, ads, or other stimuli in the environment -- an individual chooses some specific response |
| response | is an effort to satisfy a drive |
| reinforcement | of the learning process occurs when response is followed by satisfaction-- that is a reduction in the drive. |
| reinforcement strengthens | the relationship between the cue & the response. |
| attitude | is a person's point of view toward something |
| belief | is a person's opinion about something |
| expectation | an outcome or event that a person anticipates or looks forward to |
| psycho graphics or life analysis | is the analysis of a person's day- to day pattern of living as expressed in that person's activities, interests, opinions-- AIOs |
| social class | is group of people who have approximately equal social position as viewed by others in society. |
| reference group | is the people to whom an individual looks when forming attitudes about particular topic. |
| opinion leader | is a person who influences |
| culture | is the whole set of beliefs, attitudes, and ways of doing things of a reasonably homogeneous set of people |
| extensive problem-solving | when they put much effort into deciding how to satisfy a need |
| limited solving problem- | is used by consumers when some effort is required in deciding the best way to satisfy a need |
| routinized response behavior | when he or she regularly selects a particular way of satisfying a need when it occurs. |
| low -- involvement purchases | purchases that have little importance or relevance |
| dissonance | feeling of uncertainty about whether the correct decision was made. |
| adoption process - | the steps individuals go through on the way to accepting or rejecting the new idea. |
| adoption process | awareness interest evaluation trial decision confirmation |
| purchasing specifications | a written ( or electronic) description of what the firm wants to buy |
| ISO 9000 | is way for a supplier to document its quality procedures according to internationally recognized standards. |
| purchasing mangers | buying specialists for their employers. |
| multiple buying influence | means that several people - perhaps even top management - share in making a purchase decision. |
| Possible buying influences | users buyers deciders gatekeepers |
| buying center | as all the people who participate in or influence a purchase |
| vendor analysis | a formal rating of suppliers on all relevant areas of performance. the goal is to lower the total costs associated with purchases. |
| requisition | a request to buy something |
| new- task buying | occurs when an organization has a new need and the customer wants a great deal of information. |
| straight- buy | is a routine repurchase that may have been made many times before |
| modified buy- | is the in between process where some review of the buying situation is done-- not as much as new task buying |
| negotiated contract buying | which means agreeing to contracts that allow for changes in the purchase arrangements. |
| reciprocity- | means trading sales for sale0 that is "if you buy from me, I'll buy from you" |
| competitive bid | the terms of sales offered by different suppliers in response to the purchase specifications posted by the buyer. |
| NAICS - North American Industry Classification System | groups of firms in similar lines of business |
| open to buy | that is the buyers have budgeted funds that can be spent during the current period. |
| resident buyers | are independent buying agents who work in central markets ( NYC, Paris, Rome, Hong Kong) for several retailers or wholesaler customers based in outlying areas or countries. |
| Foreign Corrupt Practices Act | passed buy the US Congress in 1977, prohibits U.S |
| marketing research | procedures that develop and analyze new information about a market |
| (MIS) | which is organized way of continually gathering, accessing, and analyzing information that marketing managers need to make ongoing decision |
| intranet- | a system for linking computers within a company |
| data warehouse | a place where database are stored so that they available when needed |
| decision support system | is a computer program that makes it easy for a marketing manager to get use information as he or she is making decisions. |
| search engine | a computer program that helps marketing managers find information that is needed. |
| marketing model | is a statement of relationships among marketing variables. |
| scientific method - | is a decision- making approach that focuses on being objective and orderly in testing ideas before you accept them |
| hypotheses- | educated guesses about the relationship between things or what will happen in the future |
| the marketing research process | is a five step application of the scientific method that inlcudes: |
| the marketing research process is | 2. defining the problem anazlyzing the situation getting the problem specific data interpreting the data solving the problem |
| situation analysis | is an informal study of what information is already available in the problem area |
| secondary data | information that has been collected or published already |
| qualitative research | seeks in depth, open ended responses , not yes or no |
| focus group interview | which involves interviewing 6 to 10 people in an informal setting |
| quantitative research | which seeks structured responses that can be summarized in numbers like percentages, averages |
| response rate-- | the percentage of people contacted who complete the questionnaire |
| consumer panels | a group of consumers who provide information on a continuing basis e |
| experimental methods | researchers compare the responses of two ( or more ) groups that are similar except on the characteristic of being tested |
| statistical packages | easy to use computer programs that analyze data |
| population | the total group they are interested in marketing researches typically only study a sample |
| population | the total group they are interested in marketing researches typically only study a sample |
| sample | a part of the relevant population |
| confidence intervals | the range on either side of an estimate that is likely to contain the true value for the whole population |
| product | means the need satisfying offering of a firm |
| quality | means a products ability to to satisfy a customers needs or wants |
| product | means the need satisfying offering of a firm |
| service | is a deed performed by one party for another |
| product assortment | is the set of all product lines and individual products that a firm sells |
| quality | means a products ability to to satisfy a customers needs or wants |
| product line | is a set of individual products that are closely related. |
| service | is a deed performed by one party for another |
| individual product | is a particular product within a product line |
| product assortment | is the set of all product lines and individual products that a firm sells |
| consumer products | are products meant for the final consumer |
| product line | is a set of individual products that are closely related. |
| business products | are products meant in producing other products. |
| individual product | is a particular product within a product line |
| convenience products | are products a consumer needs but isn't willing to spend much time or effort for |
| consumer products | are products meant for the final consumer |
| staples | are products that are bought often, routinely and without much thought. |
| business products | are products meant in producing other products. |
| impulse products | are times that are bought quickly |
| convenience products | are products a consumer needs but isn't willing to spend much time or effort for |
| emergency products | are products that are purchase immediately when the need is great |
| staples | are products that are bought often, routinely and without much thought. |
| homogeneous shopping products | are shopping products the customer sees as basically the same and wants the lowest prices |
| impulse products | are times that are bought quickly |
| heterogeneous shopping products | are shopping products the customers sees as different and wants to inspect for quality and suitability. |
| emergency products | are products that are purchase immediately when the need is great |
| specialty products | are consumer products that the customer really wants and makes a special effort to find |
| homogeneous shopping products | are shopping products the customer sees as basically the same and wants the lowest prices |
| unsought | are products that potential customers dont yet want or they can buy |
| heterogeneous shopping products | are shopping products the customers sees as different and wants to inspect for quality and suitability. |
| derived demand | the demand for business products dervies from, the demand for the final customer |
| specialty products | are consumer products that the customer really wants and makes a special effort to find |
| unsought | are products that potential customers dont yet want or they can buy |
| derived demand | the demand for business products dervies from, the demand for the final customer |
| installations | such as buildings land right and major equipment are important capital items |
| accessories | are short lived capital items -- tools and equipment used in production or office actives |
| raw materials | are unprocessed expense items |
| components | are processed expense items that become part of the finished product |
| supplies | are expense items that do not become part of the finished product. |
| branding | means the use of a name., term, symbol or design or marks that are legally registered |
| brand familiarity | means how well customers recognize |
| Lanham Act | spells out what kinds of marks can be protected and the exact method of protecting them |
| Magnuson | says that producers must provide a clearly written warranty if they choose to offer one |
| product lifestyles | |
| fashion | the currently accepted lifestyle |
| fad | is an idea that is fashionable on to certain groups |
| new product | is one that is new for the company in anyway for the company concerned |
| Federal Trade Commission | the federal government agency that policies anitmonopoly laws |
| new product | is one that is new in anyway for the company concerned |
| Consumer Safety Product | set up the Consumer Product Saftey commission to encourage the design and better quality control |
| testing | getting reactions from customers about how well a new product fits their needs |
| the product life cycle | market introduction, market growth, market maturity sales decline |
Created by:
ray325
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