abc marketing

80 20 principle
principle holding that 20 percent of all customers generate 80 percent of the demand
accessory equipment
goods, such as portable tools and office equipment, that are less expensive and shorter lived than major equipment
aspirational reference group
a group that someone would like to join
attitude
a learned tendency to respond consistently toward a given object
behavioral targeting
a form of
observation marketing research that uses
data mining coupled with identifying
Web surfers by their IP addresses
BehaviorScan
a scanner-based
research program that tracks the
purchases of 3,
households through
store scanners in each research market
belief
an organized pattern of knowledge that an individual holds as true about his or her world
benefit segmentation
the process of grouping customers into market segments according to the benefits they seek from the product
busienss servies
expense items that do not become part of a final product
business marketing
marketing of goods and services to individuals and organizations for purposes other than personal consumption
business to business electronic commerce
the use of the internet to facilitate the exchange of goods, services, and information between organizations
business to business online exchange
electronic trading floor that provides companies with integrated links to their customers and suppliers
buying center
all those people in an organization who become involved in the purchase decision
cannibalization
a situation that occurs when sales of a new product cut into sales of a firm’s existing products
central-location telephone (CLT)
facility
a specially designed phone
room used to conduct telephone
interviewing
closed-ended question
Interview question that asks the
respondent to make a selection from a
limited list of responses
cognitive dissonance
inner tension that a consumer experiences after recognizing an inconsistency between behavior and values or options
competitive intelligence
an intelligence system
that helps managers assess
their competition and vendors in order
to become more efficient and effective
competitors
component parts
either finished items ready for assembly or products that need very little processing before becoming part of some other product
computer-assisted personal interviewing
an interviewing
method in which the interviewer reads
questions from a computer screen and
enters the respondent’s data directly
into the computer
computer-assisted self interviewing
an interviewing
method in which a mall interviewer
intercepts and directs willing
respondents to nearby computers
where each respondent reads questions
off a computer screen and directly keys
his or her answers into a computer
concentrated targeting strategy
strategy used to select one segment of a market for targeting marketing efforts
consumer behavior
processes a consumer uses to make purchase decisions, as well as to use and dispose of purchased goods or services; also includes factors that influence purchase decisions and product use
consumer decision making process
five step process used by consumers when buying goods or services
consumer-generated
media
media that
consumers generate and share
among themselves
convenience sample
a form of
nonprobability sample using respondents
who are convenient or readily accessible
to the researcher—for example,
employees, friends, or relatives
cross-tabulation
method of analyzing
data that lets the analyst look at the
responses to one question in relation to the
responses to one or more other questions
culture
set of values, norms, attitudes,a nd other meaningful symbols that shape human behavior and the artifacts, or products, of that behavior as they are transmitted from one generation tot he next
database marketing
the creation
of a large computerized file of
customers’ and potential customers’
profiles and purchase patterns
decision support system
an interactive, flexible, computerized
information system that enables
managers to obtain and manipulate
information as they are making
decisions
demographic segmentation
segmenting markets by age, gender, income, ethnic background, and family life cycle
derived demand
the demand for business products
disintermediation
the elimination of intermediaries such as wholesalers or distributors from a marketing channel
ethnographic research
the study of
human behavior in its natural context;
involves observation of behavior and
physical setting
evoked set
a group of brands, resulting from an information search, from which a buyer can choose
executive interview
a type of
survey that involves interviewing
businesspeople at their offices
concerning industrial products or
services
experiment
a method a researcher uses
to gather primary data
extensive decision making
the most complex type of consumer decision making, used when buying an unfamiliar, expensive product or an infrequently bought item; requires use of several criteria for evaluating options and much time for seeking information
external information search
the process of seekng information in the outside environment
family life cycle
series of stages determined by a combination of age, marital status, and the presence or absence of children
field service firm
firm that specializes
in interviewing respondents on a
subcontracted basis
focus group
seven to ten people
who participate in a group discussion
led by a moderator
frame error
error that occurs when
a sample drawn from a population differs
from the target population
geodemographic segmentation
segmenting potential customers into neighborhood lifestyle categories
geographic segmentation
segmenting markets by region of a country or the world, market size, market density, or climate
ideal self image
the way an individual would like to be
InfoScan
scanner-based sales-tracking
service for the consumer packaged goods
industry
internal information search
the process of recalling past information stored in the memory
involvement
the amount of time and effort a buyer invest in the search, evaluation, and decision processes of consumer behavior
joint demand
the demand for two or more items used together in a final product
keiretsu
network of interlocking corporate affiliates (japan)
learning
a process that creates changes in behavior, immediate or expected, through experience and practice
limited decision making
the type of decision making that requires a moderate amount of time for gathering information and and deliberating about an unfamiliar brand in a familiar product category
major equipment
capital goods such as large or expensive machines, mainframe computers, blast furnaces, generators, airplanes, and buildings
mall intercept interview
survey research method that involves
interviewing people in the common
areas of shopping malls
management decision problem
a broad-based problem that uses
marketing research in order for
managers to take proper actions
market segment
a subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs
market segmentation
the process of dividing a market into meaningful, relatively similar, and identifiable segments or groups
market
people or organizations with needs or wants and the ability and willingness to buy
marketing controlled information source
a product information source that originates with marketers promoting the product
marketing information
everyday information about developments in the marketing environment that managers use to prepare and adjust marketing plans
marketing research aggregator
a company that acquires, catalogs,
reformats, segments, and resells
reports already published by
marketing research firms
marketing research objective
specific information needed to solve
a marketing research problem; the
objective should be to provide insightful
decision-making information
marketing research problem
determining
what information is needed
and how that information can be
obtained efficiently and effectively
marketing research
the process of planning,
collecting, and analyzing
data relevant to a marketing decision
maslows hierarchy of needs
a method of classifying human needs and motivations into five categories in ascending order of importance: physiological, safety, social, esteem, and self-actualization
measurement error
an error that
occurs when there is a difference
between the information desired by the
researcher and the information provided
by the measurement process
modified rebuy
a situation in which the purchaser wants some change in the original good or service
motive
driving force that causes a person to take action to satisfy specific needs
multiplier effect
phenomenon in which a small increase or decrease in consumer demand can produce a much larger change in demand for the facilities and equipment needed to make the consumer product
multisegment targeting strategy
strategy that chooses two or more well defined market segments and develops a distinct marking mix for each
mystery shoppers
researchers posing
as customers who gather observational
data about a store
need recognition
1st step of consumer decision making process
need recognition
result of an imbalance between actual and desired states
neuromarketing
a field of marketing
that studies the body’s responses to
marketing stimuli
new buy
a situation requiring the purchase of a product for the first time
niche
one segment of a market
nonaspirational reference group
a group with which an individual does not want to associate
nonmarketing controlled information source
a product information source that is not associated with advertising or promotion
nonprobability sample
any sample
in which little or no attempt is made to
get a representative cross section of the
population
norm
a value or attitude deemed acceptable by a group
north american industry classification system
detailed numbering system developed by the united states, canada and mexico to classify north american business establishments by their main production processes
observation research
a research
method that relies on four types of
observation: people watching people,
people watching an activity, machines
watching people, and machines
watching an activity
one to one marketing
individualized marketing method that utilizes customer informaiton to build long term personalized and profiable relationships with each customer
open-ended question
an interview
question that encourages an answer
phrased in the respondent’s own words
opinion leader
individual who influences the opinions of others
optimizers
business customers who consider numerous suppliers, solicit bids, and study all proposals carefully before selecting one
original equipment manufacturers
individuals and organizations that buy business goods and incorporate them into the products they produce for eventual sale to other producers or to consumers
perception
the process by which people select, organize, and interpret stimuli into a meaningful and coherent picture
perceptual mapping
a means of displaying or graphing, in two or more dimensions, the location of products, brand, or groups of products in the customers’ minds
personality
a way of organizing and grouping the consistencies of an individual’s reactions to situations
position
the place a product, brand or group of products occupies in consumer’s mind relative to competing offerings
positioning
developing a specific marketing mix to influence potential customers’ overal perception of a brand, product line, or organization in general
primary data
information that is
collected for the first time; used for
solving the particular problem under
investigation
primary membership group
a reference group with which people interact regularly in an informal, face to face manner, such as family, friends, and coworkers
probability sample
sample in which
every element in the population has a
known statistical likelihood of being selected
processed materials
products used directly in manufacturing other products
product differentiation
positioning strategy that some firms use to distinguish their products from those of competitors
psychographic segmentation
market segmentation of the basis of personality, motives, lifestyles, and geodemographics
random error
error that occurs
when the selected sample is an imperfect
representation of the overall population
random sample
sample arranged
in such a way that every element of the
population has an equal chance of being
selected as part of the sample
raw materials
unprocessed extractive or agricultural products, such as mineral ore, lumber, wheat, corn, fruits, vegetables, and fish
real self image
the way an individual actually perceives himself or herself
reciprocity
practice where business purchasers choose to buy from their own customers
reference group
a group in society that influences an individual’s purchasing behavior
reintermediation
the reintroduction of an intermediary betwen producers and user
relationship commitment
a firm’s belief that an ongoing relationship with another firm is so important that the relationship warrants maximum efforts at maintaining it indefinitely
repositioning
changing consumers’ perceptions of a brand in relation to competing brands
research design
specifies
which research questions must be
answered, how and when the data
will be gathered, and how the data
will be analyzed
routine response behavior
the type of decision making exhibited by consumers buying frequently purchased, low-cost goods and services; requires little search and decision time
sample
subset from a larger population
sampling error
error that occurs
when a sample somehow does not
represent the target population
satisficers
business customers who place an order with the first familiar supplier to satisfy product and delivery requirements
scaled-response question
closed-ended question designed to
measure the intensity of a respondent’s
answer
scanner-based research
system for gathering
information from a single group
of respondents by continuously monitoring
the advertising, promotion, and pricing they
are exposed to and the things they buy
secondary data
data previously
collected for any purpose other than
the one at hand
secondary membership group
a reference group with which people associate less constistently and more formally than a primary membership group, such as a club, professional group, or religious group
segmentation bases
characteristics of individuals, groups, or organizations
selective distortion
process whereby a consumer changes or distorts information that conflicts with his or her feeling or beliefs
selective exposure
the process whereby a consumer notices certain stimuli and ignores others
self-concept
how consumers perceive themselves in terms of attitudes, perceptions, beliefs,a nd self-evaluations
social class
a group of people in a society who are considered nearly equal in status or community esteem, who regularly socialize among themselves both formally and informally, and who share behavioral norms
socialization process
how cultural values and norms are passed down to children
stickiness
a measure of a website’s effectiveness; calculated by multiplying the frequency of visits by the duration of a visit by the number of pages viewed during each visit
stimulus generalization
a form of learning that occurs when one response is extended to a second stimulus similar to the first
stimulus
any unit of input affecting one or more of the five senses:sight, smell, taste, touch hearing
straight rebuy
situation in which the purchaser reorders the same goods or services without looking for new information or investigating other suppliers
strategic alliance
a cooperative agreement between business fierms
subculture
a homogeneous group of people who share elements of the overall culture as well as unique elements of their own group
supplies
consumable items that do not become part of the final product
survey research
the most popular
technique for gathering primary data,
in which a researcher interacts with
people to obtain facts, opinions, and
attitudes
target market
group of people or organizations for which an organization designs, implements, and maintains a marketing mix intended to meet the needs of the group, resulting in mutually satisfying exchanges
trust
the condition that exist when one party has confidence in an exchange partner’s reliability and integrity
undifferentiated targeting strategy
marketing approach that views the market as one big market with no individual segments and thus uses a single marketing mix
universe
population from which a
sample will be drawn
usage rate segmentation
dividing a market by the amount of product bought or consumed
value
the enduring belief that a specific mod of conduct is personally or socially preferable to another mode of conduct
want
recognition of an unfulfilled need and a product that will satisfy it