Term
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Definition
1. Need Recognition
2. Information Search
3. Evaluation of Alternatives
4. Purchase decision
5. Postpurchase behavior
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Term
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Definition
| the buying behavior of organizations that buy goods and services for use in the production of other products and services that are sold, rented, or supplied to others |
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Term
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Definition
| the decision process by which business buyers determine which products and serices their organizations need to purchase and then find, evaluate, and choose among alternative suppliers and brands |
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Term
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Definition
| business demand that ultimately comes from the demand for consumer goods |
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Term
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Definition
| the first stage of the business buying process in which someone in the company recognizes a problem or need that can be met by acquiring a good or a servce |
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Term
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Definition
| the stage in the business buying process in which a buyer describes the general characteristics and quantity of a needed item |
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Term
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Definition
| the stage of the business buying process in which the buying organization decides on and specifies the best technical product characteristics for a needed item |
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Term
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Definition
| the stage of the business buying process in which the buyer trues to find the best vendors |
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Term
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Definition
| the stage of the business buying process in which the buyer invites qualified suppliers to submit proposals |
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Term
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Definition
the stage of the business buying process in which the buyer reviews proposals and selects a supplier or suppliers
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Term
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Definition
| the stage of the business buying process in which the buyer assesses the performance of the supplier and decides to continue, modify, or drop the arrangement |
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Term
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Definition
| purchasing through electronic connections between buyers and sellers -- usually online |
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Term
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Definition
| governmental units -- federal, state, and local -- that purchase or rent goods and services for carrying out the main functions of government |
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Term
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Definition
| dividing a market into different geographical units, such as nations, states, regions, counties, cities, or even neighborhoods |
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Term
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Definition
| dividing the market into segments based on variables such as age, gender, family size, family life cylce, income, occupation, etc |
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Term
| age and life-cycle segmentation |
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Definition
| dividing a market into different age and life-cycle groups |
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Term
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Definition
| dividing a market into different segments based on gender |
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Term
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Definition
| dividing a market into different income segments |
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Term
| psychographic segmentation |
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Definition
| dividing a market into different segments based on social class, lifestyle, or personality characteristics |
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Term
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Definition
| dividing a market based on consumer knowledge, attitudes, uses, or responses to a product |
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Term
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Definition
| dividing a market according to occasions when buyers get the idea to buy, actually make their purchase, or use the purchased item |
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Term
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Definition
| dividing the market into segments according to the different benefits that consumers seek from the product |
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Term
| undifferentiated (mass) marketing |
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Definition
| a market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer |
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Term
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Definition
| market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each |
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Term
| concentrated (niche) marketing |
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Definition
| a market-coverage strategy in which a firm goes after a large share of one or a few segments or niches |
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Term
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Definition
| tailoring products and marketing programs to the needs and wants of specific individuals and local customer segments |
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Term
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Definition
| tailoring brands and promotions to the needs and wants of local customer segments -- cities, neighborhoods, and even specific stores |
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Term
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Definition
| tailoring products and promitions to the needs and preferences of indivual customers |
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Term
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Definition
| an advantage over competitors gained by offering greater customer value |
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Term
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Definition
| full positioning of a brand -- the full mix of benefits on which it is positioned |
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Term
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Definition
| a statement that summarizes company or brand positioning |
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Term
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Definition
| the characteristics of a product or service that bear on its ability to satisfy stated or implied customer needs |
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Term
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Definition
| a name, term, sign, symbol, design or a combination that identifies the products or services of one seller or group of sellers and differentiates them from those of competitors |
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Term
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Definition
| the activities of designing and producing the container of wrapper for a product |
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Term
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Definition
| a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlets, or fall within given price range |
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Term
| product mix (product portfolio) |
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Definition
| set of all product lines and items that a particular seller offers for sale |
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Term
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Definition
| services cannot be seen, tasted, felt, heard, or smelled before they are bought |
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Term
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Definition
| services are produced and consumed at the same time and cannot be separated from their providers |
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Term
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Definition
| the quality of services may vary greatly depending on who provides them and when, where, and how |
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Term
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Definition
| services cannot be stored for later sale or use |
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Term
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Definition
| the chain that links service firm profits with employee and customer satisfaction |
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Term
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Definition
| the differential effect that knowing the brand name has on customer response to the product or its marketing |
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Term
| store brand (private brand) |
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Definition
| a brand created and owned by a reseller of a product or service |
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Term
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Definition
| the practice of using the established brand names of 2 different companies on the same product |
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Term
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Definition
| extending an existing brand name to new forms, colors, sizes, ingredients, or flavors of an existing product category |
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Term
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Definition
| extending an existing brand name to new product categories |
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Term
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Definition
| development of original products, product improvements, product modifications, and new brands through the firm's own product development efforts |
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Term
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Definition
| the systematic search for new-product ideas |
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Term
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Definition
the course of a product's sales and profits over its lifetime
- product development
- introduction
- growth
- maturity
- decline |
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Term
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Definition
| the PLC stage in which a new product is first distributed and made available for purchase |
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Term
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Definition
| the PLC stage in which a product's sales start climbing quickly |
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Term
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Definition
| the PLC stage in which a product's sales growth slows or levels off |
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