Ch. 11 Marketing Word Scramble

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Term	Definition
Marketing	activities, a set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have values for customers, clients, partners, and society at large
Value	relative comparison of a product's benefits versus its costs
Possession Utility	transferring product ownership to customers by setting selling prices, setting terms for customer credit payments, and providing ownership documents
Consumer Goods	physical products purchased by consumers for personal use
Industrial Goods	physical products purchased by companies to produce other products
Relationship Marketing	marketing strategy that emphasizes building lasting relationships with customers and suppliers
Data Warehousing	the compiling and storage of customers' data
Data Mining	the application of electronic technologies for searching, sifting, and reorganizing pools of data to uncover useful information
Substitute Product	product that is dissimilar from those of competitors, but that can fulfill the same need
Brand Competition	based on users' perceptions of the benefits offered by each product
International Competition	competitive marketing of domestic products against foreign products
Marketing Plan	detailed strategy for focusing marketing efforts on consumers' needs and wants
Marketing Objectives	the things marketing intends to accomplish in its marketing plan
Marketing Strategy	all the marketing programs and activities that will be used to achieve the marketing goals
Marketing Manager	the people responsible for planning, organizing, leading, and controlling the organization's marketing resources toward supporting and accomplishing the organization's overall mission
Marketing Mix	combination of product, pricing, promotion, and place (distribution) strategies used to market products
Product Differentiation	creation of a product feature or product image that differs enough from existing products to attract customers
Pricing	process of determining the best price at which to sell a product
Place (distribution)	refers to where and how customers get access to the products they buy
Promotion	aspect of the marketing mix concerned with the most effective techniques for communicating information about products
Advertising	any form of paid non-personal communication used by an identified sponsor to persuade or inform potential buyers about a product
Personal Selling	person-to-person sales
Sales Promotion	direct inducements such as premiums, coupons, package inserts to tempt consumers to buy products
Public Relations	communication efforts directed at building goodwill and favorable attitudes in the minds of the public toward the organization and its products
Integrated Marketing Strategy	strategy that blends together the Four Ps of marketing to ensure their compatibility with one another and with the company's nonmarketing activities as well
Target Market	the particular group of people or organizations on which a firm's marketing efforts are focused
Market Segmentation	process of dividing a market into categories of customer types, or "segments," having similar wants and needs and who can be expected to show interest in the same products
Product Positioning	process of fixing, adapting, and communicating the nature of a product
Geographic Variables	geographic units that may be considered in developing a segmentation strategy
Geographic Segmentation	geographic units, from countries to neighborhoods, that may be considered in identifying different market segments in a segmentation strategy
Demographic Variables	describe populations by identifying traits, such as age, income, gender, ethnic background, marital status, race, religion, and social class
Geo-Demographic Segmentation	using a combination of geographic and demographic traits for identifying different market segments in a segmentation strategy
Geo-Demographic Variables	combination of geographic and demographic traits used in developing a segmentation strategy
Psychographic Segmentation	segmentation strategy that uses psychographic characteristics to identify different market segmentations
Psychographic Variables	consumer characteristics, such as lifestyles, opinions, interests, and attitudes, that may be considered in developing a segmentation strategy
Behavioral Segmentation	a segmentation strategy that uses behavioral variables to identify different market segments
Behavioral Variables	behavioral patterns displayed by groups of consumers and that are used in developing a segmentation strategy
Marketing Research	the study of what customers need and want and how best to meet those need and wants
Observation	research method that obtains data by watching and recording consumer behavior
Survey	research method of collecting consumer data using questionnaires, telephone calls, and face-to-face interviews
Focus Group	research method using a group of people from a target population who are asked their attitudes, opinions, and beliefs about a product in an open discussion
Experimentation	research method using a sample of potential consumers to obtain reactions to test versions of new products or variations of existing products
Consumer Behavior	study of the decision process by which people buy and consume products
Psychological influences	include an individual's motivations, perceptions, ability to learn, and attitudes that marketers use to study buying behavior
Personal Influences	include lifestyle, personality, and economic status that marketers use to study buying behavior
Social Influences	include family, opinion leaders (people whose opinions are sought by others), and such reference groups as friends, coworkers, and professional associates that marketers use to study buying behavior
Cultural Influences	include culture, subculture, and social class influences that marketers use to study buying behavior
Brand Loyalty	pattern of repeated consumer purchasing based on satisfaction with a product's performance
Evoked Set (or consideration set)	group of products consumers will consider buying as a result of information search
Rational Motives	reasons for purchasing a product that are based on a logical evaluation of product attributes
Emotional Motives	reasons for purchasing a product that are based on nonobjective factors
Service Companies Market	firms engaged in the business of providing services to the purchasing public
Industrial Market	organizational market consisting of firms that buy goods that are either converted into products or used during production
Reseller Market	organizational market consisting of intermediaries that buy and resell finished goods
Institutional Market	organizational market consisting of such nongovernmental buyers of goods and services as hospitals, churches, museums, and charitable organizations
Viral Marketing	type of marketing that relies on the internet to spread information like a "virus," from person to person about products and ideas
Corporate Blogs	comments and opinions published on the Web by or for an organization to promote its activities

Created by: hwinkler59