Marketing chapter 4, 5, & 6 terms

Customer insights
Fresh understandings of customers and the marketplace derived from marketing information
Marketing information system
People and procedures dedicated to assessing information needs
Internal databases
Electronic collections of consumer and Market information
Competitive marketing intelligence
The systematic collection and Analysis of publicly available information about consumers competitors and developments in the marketing environment
Marketing research
The systematic design collection analysis and reporting of data relevant to specific marketing situation facing an organization
Exploratory research
Marketing research to gather preliminary information that will help Define problems and suggest hypotheses
Descriptive research
marketing research to better describe marketing problem situations or
Casual research
Marketing research the test hypotheses about cause and effect relationships
Secondary data
Information that already exists somewhere having been collected for another purpose
Primary data
Information collected for the specific purpose at hand
Observational research
Gathering primary data by observing relevant people actions and situations
Ethnographic research
a form of observational research that involves sending trained observers to watch and interact with consumers in their natural environments
Survey research
Gathering primary data by asking people questions about their knowledge attitudes preferences and buying Behavior
Experimental research
Gathering primary data by selecting match groups of subjects giving them different treatments controlling related factors and checking for differences in group responses
Focus group interview
Personal interviewing that involves inviting 6 to 10 people together for a few hours for the train interviewer to talk about a product or service
Online marketing research
Collecting primary data online through internet service
Online focus groups
Gathering a small group of people online with a train moderator to talk about a product
Behavioral targeting
Using online consumer tracking data to Target advertisements in marketing offers to specific consumers
Sample
A segment of the population selected for marketing research to represent the population as a whole
Customer relationship management
Managing detailed information about individual customers and carefully managing customer touch points to maximize customer loyalty
Consumer buyer Behavior
The buying behavior of final consumers
Consumer Market
All the individuals and households that buyer acquire goods and services
Culture
The set of basic values perceptions once and behaviors learned by a member of society
Subculture
A group of people with shared value systems based on common Life Experiences
Cross-cultural
Including up nicknames and cross cultural perspectives with the name brands mainstream
Social class
Relatively permanent and ordered divisions in a society whose members share similar values interests and behaviors
Group
Two or more people who interact to accomplish individual or Mutual goals
Word of mouth influence
Impact of personal words and recommendations of trusted friends Associates and other consumers on buying Behavior
Opinion leader
The person within a reference group who because of special skills knowledge and personality or other characteristics exert social influence on others
Online social networks
Online social communities
Lifestyle
A person’s pattern of living as expressed in his or her activities interest and opinions
Personality
The unique psychological characteristics that distinguish a person or group
Motive
I need that is sufficiently pressing to direct the person to seek satisfaction of the
Perception
The process by which people select organize and interpret information to form a meaningful picture of the world
Learning
Changes in an individual’s Behavior arising from
Belief
A descriptive thought that a person holds about
Attitude
A person’s consistently favorable or unfavorable evaluations feelings and tendencies
Cognitive dissonance
Buyer discomfort caused by post-purchase conflict
New product
A good service or idea that is perceived by some potential customers as new
Adoption process
The mental process through which an individual passes from first hearing about an innovation to final adoption
Business buyer Behavior
Divine behavioral organizations that buy goods and services for you some production of other products and
Business buying process
The decision process by which business buyers determine which products and services are organizations need to purchase
Derived demand
Business demand that ultimately comes from the demand for consumer goods
Supplier Development
Systematic development of networks of supplier Partners to ensure an appropriate independable supply of
Straight rebuy
Hey business buying situation in which the buyer routinely reorders something without
New task
A business buying situation which the buyer purchase of a product or service for the first
Systems selling Solutions
Buy a package solution to a problem with a single seller
Buying Center
All the individuals in the units that play a role in the purchase decision making process
Product value analysis
Carefully analyze any products or services compendious to determine if they can be
E-procurement
Purchasing through electronic connections between buyers and sellers usually online
Market segmentation
Dividing a market into smaller segments of
Market targeting
Evaluating each market segment attractiveness and selecting one or more
Differentiation
Differentiating the market offering to create Superior customer value
Positioning
Arranging for a market offering to occupy clear distinctive and desirable Place relative competing products in the minds of Target consumers (think brain)
Geographic segmentation
Dividing a market into different geographical units
Demographic segmentation
Dividing a market into segments based on variables such as age gender and
Age and life cycle segmentation
Dividing a market into different age and lifecycle groups
Gender segmentation
Dividing the market into segments based on gender
Income segmentation
Dividing a market into different income
Psychographic segmentation
Dividing a market into different segments based on social class lifestyle personality characteristics
Behavioral segmentation
Dividing a market into segments based on consumer knowledge attitude uses of a product or responses to
Occasion segmentation
Dividing a market into segments according to occasions when buyers get the idea
Benefit segmentation
Dividing the market into segments according to the different benefits that consumers seek from a product
InterMarket segmentation
Forming segments of consumers who have similar needs and buying behaviors
Target Market
A set of buyers sharing common needs or characteristics of the company decides to serve
Undifferentiated marketing
A market coverage strategy in which a firm decides to ignore Market segment differences
Differentiated marketing
A market coverage strategy in which a person besides Target several market segments
Concentrated marketing
A market coverage strategy in which a friend goes after a large share of one or a few segments 1 inches
Micro marketing
Pairing products and marketing programs to the needs and wants of specific individuals
Local marketing
Tailoring Brands and marketing to the needs and wants of local customer segments
Individual marketing
Pairing products marketing programs to the needs and preferences of individual customers
Product position
The way product is defined by consumers or important attributes
Competitive advantage
An advantage over competitors gained by offering greater customer value
Value proposition
The full positioning of a brand
Positioning statement
A statement that summarizes company or brand positioning using a certain form