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Definition
| the process of separating, identifying, and evaluating the layers of a market to identify a target market |
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Definition
| the differentiation of markets through the use of categories such as age, education, gender, income, and household size |
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Definition
| the differentiation of markets by region of the country, city, or country size, market density, or climate |
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| psychographic segmentation |
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Definition
| the differentiation of markets by personality or lifestyle |
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Definition
| the differentiation of markets based on what a product will do rather than on costumer characteristics |
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| the differentiation of markets based on the amount of the product purchased |
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Definition
| the process of planning, collecting, and analyzing data relevant to a market decision |
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Definition
| a marketing research method in which data are collected from respondents in person, by telephone, by mail, at a mall, or through the internet to obtain facts, opinions, and attitudes |
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Definition
| a marketing research method in which the investigator monitors respondents' actions without interacting directly with the correspondents |
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Definition
| a marketing research method in which the investigator changes one or more variables, while observing the effects of these changes on another variable |
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Term
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Definition
| information collected directly from the original source to get more information about an opportunity or to solve a problem |
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Term
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Definition
| information that has already been collected for a project, other than the current one, that can help to understand a situation or solve a problem |
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Definition
| the process of selling products based on their environmental benefits |
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Term
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Definition
| cards issued by a manufacturer, service organization, or retailer that gives discounts to loyal and frequent shoppers |
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Term
| marketing research process |
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Definition
1. define the marketing opportunity or issue
2. choose a research method
3. collect data
4. analyze the research date
5. make recommendations to management |
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Term
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Definition
| the process of discovering the needs and wants of potential buyers and costumers and then providing goods and services that meet or exceed their expectations |
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Term
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Definition
| in marketing, any good or service, along with its perceived attributes and benefits, that creates value for the costumer |
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Term
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Definition
| the process in which two parties give something of value to each other to satisfy their respective needs |
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Term
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Definition
| a statement of the tangible results a costumer receives from using your products |
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Term
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Definition
| identifying consumer needs, and then producing the goods or services that will satisfy them while making profit for the organization |
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Term
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Definition
| an approach in which a company works to lower production costs without a strong desire to satisfy the needs of costumers |
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Term
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Definition
| the ratio of benefits to the sacrifices necessary to obtain those benefits, as determined by the costumer |
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Term
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Definition
| the costumer's feeling that a product has met or exceeded expectations |
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Term
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Definition
| a strategy that focuses on forging long-term partnerships with costumers by offering value and providing costumer satisfaction |
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Term
| costumer relationship management (CRM) |
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Definition
| the process used by organizations to track and organize information about current and prospective costumers |
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Term
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Definition
| the process by which a company continually collects and evaluates information about its external environment |
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Term
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Definition
| the specific group of consumers toward which a company directs its marketing efforts |
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Term
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Definition
| a set of unique features of a company and its products that are perceived by the target market as significant and superior to those of the competition |
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Term
| cost competitive advantage |
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Definition
| a company's ability to produce a product or service at a lower cost than all other competitors in an industry while maintaining satisfactory profit margins |
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Term
| differential competitive advantage |
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Definition
| a company's ability to provide a unique product or service with a set of features that the target market perceives as important and better than the competitor's |
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Term
| niche competitive advantage |
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Definition
| a company's ability to target and effectively serve a single segment of the market within a limited geographic area |
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Term
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Definition
| the blend of product offering, pricing, promotional methods, and distribution system that brings a specific group of consumers superior value |
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Term
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Definition
| product, price, promotion, and place(distribution), which together make up the marketing mix |
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Term
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Definition
| taking the good or service and selecting a brand name, packaging, colours, a warranty, accessories, and a service program |
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Term
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Definition
| setting a price based on the demand and cost for a good or service |
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Definition
| creating the means by which products flow from the producer to the consumer |
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Definition
| the unique combination of personal selling, advertising, publicity, and sales promotion to stimulate the target market to buy a product or service |
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Definition
| the application of marketing techniques to social issues and causes |
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Definition
| the actions people take in buying and using goods and services |
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Definition
| the set of values, ideas, attitudes, and other symbols created to shape human behaviour |
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Definition
| formal and informal groups that influence buyer behaviour |
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Definition
| those who influence others |
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Definition
| the passing down of cultural norms and values to children |
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Definition
| a way of organizing and grouping how an individual reacts to situations |
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Term
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Definition
| how people perceive themselves |
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Term
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Definition
| the way an individual would like to be |
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Term
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Definition
| how an individual actually perceives him- or herself |
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Term
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Definition
| the process by which we select, organize, and interpret stimuli into meaningful and coherent picture |
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Term
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Definition
| the process of deciding which stimuli to notice and which to ignore |
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Term
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Definition
| an organized pattern of knowledge that an individual holds as true about the world |
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Term
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Definition
| learned tendency to respond consistently toward a given object, idea, or concept |
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Term
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Definition
| the amount of time and effort a buyer invests in the searches, evaluations, and decision processes of consumer behaviour |
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Term
| routine response behaviour |
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Definition
| purchase of low-cost, frequently bought items with little search or decision making |
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Term
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Definition
| the situation in which a consumer has previous product experience but is unfamiliar with the current brands available |
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Term
| extensive decision making |
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Definition
| purchasing an unfamiliar, expensive, infrequently bought item |
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Term
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Definition
| the condition of having beliefs or knowledge that are internally inconsistent or that disagree with one's behaviour |
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