Term
|
Definition
| 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. (multiplier effect) |
|
|
Term
|
Definition
| Goods, such as portable tools and office equipment, that are less expensive and shorter-lived than major equipment. |
|
|
Term
|
Definition
| The marketing of goods and services to individuals and organizations for purposes other than personal consumption. |
|
|
Term
|
Definition
| Expense items that do not become part of a final product. |
|
|
Term
| business-to-business electronic commerce |
|
Definition
| The use of the Internet to facilitate the exchange of goods, services, and information between organizations. |
|
|
Term
| business-to-business online exchange |
|
Definition
| An electronic trading floor that provides companies with integrated links to their customers and suppliers. |
|
|
Term
|
Definition
| All those persons in an organization who become involved in the purchase decision |
|
|
Term
|
Definition
| Either finished items ready for assembly or products that need very little processing before becoming part of some other product |
|
|
Term
|
Definition
| The demand for business products. |
|
|
Term
|
Definition
| The demand for business products. |
|
|
Term
|
Definition
| The elimination of intermediaries such as wholesalers or distributors from a marketing channel |
|
|
Term
|
Definition
| Capital goods such as large or expensive machines, mainframe computers, blast furnaces, generators, airplanes, and buildings. (major equipment) |
|
|
Term
|
Definition
| The demand for two or more items used together in a final product. |
|
|
Term
|
Definition
| A network of interlocking corporate affiliates |
|
|
Term
|
Definition
| Capital goods such as large or expensive machines, mainframe computers, blast furnaces, generators, airplanes, and buildings. (installations) |
|
|
Term
|
Definition
| A situation where the purchaser wants some change in the original good or service |
|
|
Term
|
Definition
| 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. (accelerator principle |
|
|
Term
|
Definition
| A situation requiring the purchase of a product for the first time |
|
|
Term
| North American Industry Classification System (NAICS) |
|
Definition
| A detailed numbering system developed by the United States, Canada, and Mexico to classify North American business establishments by their main production processes |
|
|
Term
|
Definition
| Individuals and organizations that buy business goods and incorporate them into the products that they produce for eventual sale to other producers or to consumers. (original equipment manufacturers) |
|
|
Term
|
Definition
| Products used directly in manufacturing other products |
|
|
Term
|
Definition
| Unprocessed extractive or agricultural products, such as mineral ore, timber, wheat, corn, fruits, vegetables, and fish |
|
|
Term
|
Definition
| The practice of business purchasers choosing to buy from their own customers |
|
|
Term
|
Definition
| The reintroduction of an intermediary between producers and users |
|
|
Term
|
Definition
| A firm's belief that an ongoing relationship with another firm is so important that the relationship warrants maximum efforts at maintaining it indefinitely |
|
|
Term
|
Definition
| A measure of a Web site's effectiveness; calculated by multiplying the frequency of visits times the duration of a visit times the number of pages viewed during each visit. (site reach) |
|
|
Term
|
Definition
| A situation in which the purchaser reorders the same goods or services without looking for new information or investigating other suppliers |
|
|
Term
|
Definition
| A cooperative agreement between business firms. (strategic partnership) |
|
|
Term
|
Definition
| Consumable items that do not become part of the final product |
|
|
Term
|
Definition
| The condition that exists when one party has confidence in an exchange partner's reliability and integrity |
|
|
Term
|
Definition
| A principle holding that 20 percent of all customers generate 80 percent of the demand |
|
|
Term
|
Definition
| The process of grouping customers into market segments according to the benefits they seek from the product |
|
|
Term
|
Definition
| A situation that occurs when sales of a new product cut into sales of a firm's existing products |
|
|
Term
| concentrated targeting strategy |
|
Definition
| A strategy used to select one segment of a market for targeting marketing efforts |
|
|
Term
|
Definition
| Segmenting markets by age, gender, income, ethnic background, and family life cycle |
|
|
Term
|
Definition
| A series of stages determined by a combination of age, marital status, and the presence or absence of children |
|
|
Term
| geodemographic segmentation |
|
Definition
| Segmenting potential customers into neighborhood lifestyle categories |
|
|
Term
|
Definition
| Segmenting markets by region of a country or the world, market size, market density, or climate |
|
|
Term
|
Definition
| People or organizations with needs or wants and the ability and willingness to buy |
|
|
Term
|
Definition
| A subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs |
|
|
Term
|
Definition
| The process of dividing a market into meaningful, relatively similar, and identifiable segments or groups |
|
|
Term
| multisegment targeting strategy |
|
Definition
| A strategy that chooses two or more well-defined market segments and develops a distinct marketing mix for each |
|
|
Term
|
Definition
|
|
Term
|
Definition
| An individualized marketing method that utilizes customer information to build long-term, personalized, and profitable relationships with each customer |
|
|
Term
|
Definition
| Business customers who consider numerous suppliers, both familiar and unfamiliar, solicit bids, and study all proposals carefully before selecting one |
|
|
Term
|
Definition
| A means of displaying or graphing, in two or more dimensions, the location of products, brands, or groups of products in customers' minds |
|
|
Term
|
Definition
| The place a product, brand, or group of products occupies in consumers' minds relative to competing offerings |
|
|
Term
|
Definition
| Developing a specific marketing mix to influence potential customers' overall perception of a brand, product line, or organization in general |
|
|
Term
|
Definition
| A positioning strategy that some firms use to distinguish their products from those of competitors |
|
|
Term
| psychographic segmentation |
|
Definition
| Market segmentation on the basis of personality, motives, lifestyles, and geodemographics |
|
|
Term
|
Definition
| Changing consumers' perceptions of a brand in relation to competing brands |
|
|
Term
|
Definition
| Business customers who place an order with the first familiar supplier to satisfy product and delivery requirements |
|
|
Term
|
Definition
| Characteristics of individuals, groups, or organizations. (variables) |
|
|
Term
|
Definition
| (1) A defined group most likely to buy a firm's product. (2) A group of people or organizations for which an organization designs, implements, and maintains a marketing mix intended to meet the needs of that group, resulting in mutually satisfying exchanges |
|
|
Term
| undifferentiated targeting strategy |
|
Definition
| A marketing approach that views the market as one big market with no individual segments and thus uses a single marketing mix |
|
|
Term
|
Definition
| Dividing a market by the amount of product bought or consumed |
|
|
Term
|
Definition
| Characteristics of individuals, groups, or organizations. (segmentation bases) |
|
|
Term
|
Definition
| A name, term, symbol, design, or combination thereof that identifies a seller's products and differentiates them from competitors' products |
|
|
Term
|
Definition
| The value of company and brand names |
|
|
Term
|
Definition
| A consistent preference for one brand over all others |
|
|
Term
|
Definition
| The elements of a brand that cannot be spoken |
|
|
Term
|
Definition
| That part of a brand that can be spoken, including letters, words, and numbers |
|
|
Term
|
Definition
| A product used to manufacture other goods or services, to facilitate an organization's operations, or to resell to other customers. (industrial product) |
|
|
Term
|
Definition
| A brand that carries no evidence of a retailer's affiliations, is manufactured by a third party, and is sold exclusively at the retailer |
|
|
Term
|
Definition
| Placing two or more brand names on a product or its package |
|
|
Term
|
Definition
| A product bought to satisfy an individual's personal wants |
|
|
Term
|
Definition
| A relatively inexpensive item that merits little shopping effort |
|
|
Term
|
Definition
|
|
Term
|
Definition
| Marketing several different products under the same brand name |
|
|
Term
|
Definition
| Identifies a product by class or type and cannot be trademarked |
|
|
Term
|
Definition
| A brand where at least one-third of the product is sold outside its home country or region |
|
|
Term
|
Definition
| An unwritten guarantee that the good or service is fit for the purpose for which it was sold |
|
|
Term
|
Definition
| Using different brand names for different products |
|
|
Term
|
Definition
| A type of package labeling designed to help consumers make proper product selections and lower their cognitive dissonance after the purchase |
|
|
Term
|
Definition
| The brand name of a manufacturer |
|
|
Term
|
Definition
| A type of package labeling that focuses on a promotional theme or logo with consumer information being secondary |
|
|
Term
|
Definition
| The practice of modifying products so those that have already been sold become obsolete before they actually need replacement |
|
|
Term
|
Definition
| A brand name owned by a wholesaler or a retailer |
|
|
Term
|
Definition
| Everything, both favorable and unfavorable, that a person receives in an exchange |
|
|
Term
|
Definition
| A specific version of a product that can be designated as a distinct offering among an organization's products |
|
|
Term
|
Definition
| A group of closely related product items |
|
|
Term
|
Definition
| The number of product items in a product line |
|
|
Term
|
Definition
| Adding additional products to an existing product line in order to compete more broadly in the industry |
|
|
Term
|
Definition
| All products that an organization sells |
|
|
Term
|
Definition
| The number of product lines an organization offers |
|
|
Term
|
Definition
| Changing one or more of a product's characteristics |
|
|
Term
|
Definition
| A trademark for a service |
|
|
Term
|
Definition
| A product that requires comparison shopping because it is usually more expensive than a convenience product and is found in fewer stores |
|
|
Term
|
Definition
| A particular item for which consumers search extensively and are very reluctant to accept substitutes |
|
|
Term
|
Definition
| The exclusive right to use a brand or part of a brand |
|
|
Term
| universal product codes (UPCs) |
|
Definition
| A series of thick and thin vertical lines (bar codes), readable by computerized optical scanners, that represent numbers used to track products. (bar codes, UPCs) |
|
|
Term
|
Definition
| A product unknown to the potential buyer, or a known product that the buyer does not actively seek. |
|
|
Term
|
Definition
| A confirmation of the quality or performance of a good or service |
|
|
