Term
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Definition
| the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stake holders, and society at large. |
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Term
| Two things Marketing seeks to accomplish: |
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Definition
1. Discover the needs and wants of prospective customers.
2. satisfy customers. |
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Term
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Definition
| trade of things of value between a buyer and a seller so that each is better off after the trade. |
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Definition
| People with both the desire and the ability to buy a specific offering. (p.9) |
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Definition
| One or more specific groups of potential consumers toward which an organization directs its marketing program. (p.9) |
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Definition
| The controllable factors - product, price, promotion, and place - that the marketing manager can use to solve a marketing problem. (p.10) |
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Definition
| The uncontrollable social, economic, technological, competitive, and regulatory forces that affect the results of a marketing decision. (p.10) |
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Definition
| Buyers' benefits, including quality, convenience, on-time delivery, and before- and after-sale service at a specific price. (p.10) |
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Definition
| Linking the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit. (p.11) |
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Definition
| A plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers. (p.12) |
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Definition
| The idea that an organization should strive to satisfy the needs of consumers while also trying to achieve the organization's goals. (p14) |
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Definition
| Focusing organizational efforts to collect and use information about customers' needs to create customer value. (p.14) |
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Definition
| The view that organizations should satisfy the needs of consumers in a way that also provides for society's well-being. (p.15) |
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Definition
| The people who use the goods and services purchased for a household. (p.16) |
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Definition
| Manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or resale. (p.16) |
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Definition
| The benefits or customer value received by users of the product. (p.16) |
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Definition
| The reward to a business firm for the risk it undertakes in marketing its offerings. (p.22) |
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Definition
| An organization's long-term course of action that delivers a unique customer experience while achieving its goals. (p.22) |
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Definition
| The fundamental, passionate, and enduring principles that guide an organization. (p.25) |
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Definition
| A statement or vision of an organization's function in society. (p.25) |
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Definition
| The set of values, ideas, attitudes, and behavioral norms that is learned and shared among the members of an organization. (p.26) |
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Definition
| The underlying industry or market sector of an organization's offering. (p.26) |
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Definition
| Targets of performance to be achieved, often by a specific time. (p.26) |
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Definition
| Ratio of a firm's sales to the total sales of all firms in the industry. (p.27) |
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Definition
| The visual computer display of essential marketing information. (p.27) |
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Definition
| A measure of the value or trend of a marketing activity or result. (p.28) |
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Definition
| A road map for the marketing activities of an organization for a specified future time period. (p.28) |
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Term
| BUSINESS PORTFOLIO ANALYSIS |
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Definition
| A technique that managers use to quantify performance measures and growth targets of their firms' strategic business units. (p.31) |
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Term
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Definition
| A technique a firm uses to search for growth opportunities from among current and new products and markets. (p.33) |
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Term
| STRATEGIC MARKETING PROCESS |
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Definition
| An approach whereby an organization allocates its marketing mix resources to reach its target markets. (p.34) |
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Term
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Definition
| Taking stock of where a firm or product has been recently, where it is now, and where it is headed. (p.34) |
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Definition
| An acronym describing an organization's appraisal of its internal strengths and weaknesses and its external opportunities and threats. (p.35) |
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Definition
| The sorting of potential buyers into groups that have common needs and will respond similarly to a marketing action. (35) |
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Definition
| Those characteristics of a product that make it superior to competitive substitutes. (p.36) |
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Definition
| The means by which a marketing goal is to be achieved. (p.38) |
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Definition
| Detailed day-to-day operational decisions essential to the overall success of marketing strategies. (p.38) |
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Definition
| The process of acquiring information on events outside the organization to identify and interpret potential trends. (p.60) |
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Definition
| The demographic characteristics of the population and its values. (p.60) |
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Definition
| Description of a population to characteristics such as age, gender, ethnicity, income, and occupation. (p.60) |
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Definition
| The generation of children born between 1946 and 1964. (p.62) |
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Definition
| Members of the U.S. population born between 1965 and 1976. (p.62) |
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Definition
| The 72 million Americans born between 1977 and 1994. (p.63) |
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Definition
| Marketing programs that reflect unique aspects of different races. (p.64) |
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Definition
| The set of values, ideas, and attitudes that is learned and shared among the members of a group. (p.64) |
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Definition
| Pertains to the income and resources that affect the cost of running a business or household. (p.65) |
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Definition
| Inventions from applied science or engineering research. (p.67) |
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Definition
| An information- and communication-based electronic exchange environment occupied by digitized offerings. (p.69) |
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Definition
| Alternative firms that could provide a product to satisfy a specific market's need. (p.69) |
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Definition
| Restrictions that state and federal laws place on business. (p.70) |
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Definition
| A movement started to increase the influence, power, and rights of consumers in dealing with institutions. (p.71) |
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Definition
| An alternative to government control, whereby an industry attempts to police itself. (p.73) |
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Definition
| The moral principles and values that govern the actions and decisions of an individual or a group. (p.80) |
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Definition
| Society's standards and values that are enforceable in the courts. (p.80) |
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Term
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Definition
| Codified the ethics of exchange between buyers and sellers, including rights to safety; to be informed, to choose, and to be heard. (p.82) |
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Definition
| A formal statement of ethical principles and rules of conduct. (p.84) |
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Definition
| A personal moral philosophy that considers certain individual rights or duties as universal, regardless of the outcome. (p.85) |
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Definition
| A personal moral philosophy that focuses on the "greatest good for the greatest number." (p.85) |
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Definition
| The idea that organizations are part of a larger society and are accountable to that society for their actions. (p.86) |
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Definition
| Marketing efforts to produce, promote, and reclaim environmentally sensitive products. (p.87) |
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Term
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Definition
| Tying the charitable contributions of a firm directly to sales produced through the promotion of one of its products. (p.87) |
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Term
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Definition
| A systematic assessment of a firm's objectives, strategies, and performance in the domain of social responsibility. (p.88) |
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Term
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Definition
| The actions a person takes in purchasing and using products and services. (p.96) |
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Term
| PURCHASE DECISION PROCESS |
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Definition
| The stages a buyer passes through in making choices about which products or services to buy. (p.96) |
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Term
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Definition
| The personal, social, and economic significance of a purchase to the consumer. (p.99) |
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Definition
| The energizing force that stimulates behavior to satisfy a need. (p.102) |
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Definition
| A person's consistent behaviors or responses to recurring situations. (p.102) |
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Definition
| The process by which a person selects, organizes, and interprets information to create a meaningful picture of the world. (p.103) |
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Definition
| The anxiety felt when a consumer cannot anticipate possible negative outcomes of a purchase. (p.103) |
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Term
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Definition
| Behaviors that result from repeated experience or reasoning. (p.104) |
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Definition
| A favorable attitude toward and consistent purchase of a single brand over time. (p.106) |
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Term
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Definition
| A tendency to respond to something in a consistently favorable or unfavorable way. (p.106) |
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Term
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Definition
| A consumer's perceptions of how a product or brand performs. (p.106) |
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Term
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Definition
| Individuals who have social influence over others. (p.108) |
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Term
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Definition
| People influencing each other in personal conversation. (p.109) |
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Definition
| People to whom an individual looks as a basis for self-appraisal or as a source of personal standards. (p.110) |
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Term
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Definition
| A family's progression from formation to retirement, each phrase bringing with it distinct purchasing behaviors. (p.111) |
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Definition
| Subgroups within the larger, or national, culture with unique values, ideas, and attitudes. (p.113) |
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Term
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Definition
| The Marketing of products and services to firms, governments, or not-for-profit organizations. (p.120) |
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Term
| North American INdustry Classification System (NAICS) |
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Definition
| Provides common industry definitions for Canada, Mexico, and the United States. (p.121) |
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Term
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Definition
| The demand for industrial products and services is driven by demand for consumer products and services. (p.122 |
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Term
| ORGANIZATIONAL BUYING BEHAVIOR |
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Definition
| The process by which organizations determine the need for goods and then choose among alternative suppliers. (p.126) |
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Term
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Definition
| The group of people in an organization who participates in the buying process. (p.126) |
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Term
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Definition
| Three types of organizational buying situations: new buy, straight rebuy, modified rebuy. (p.128) |
Term
Definition
| Online trading communities that bring together buyers and supplier organizations. (p.129) |
Term
Definition
| Occurs when a seller puts an item up for sale and would-be buyers bid in competition with each other. (p.131) |
Term
Definition
| Occurs when a buyer communicates a need for something and would-be suppliers bid in competition with each other. (p.131) |
Term
Definition
| The practice of shielding one or more industries within a country's economy from foreign competition through use of tariffs and quotas. (p.138) |
Term
Definition
| A government tax on goods or services entering a country, primarily serving to raise prices on imports. (p.138) |
Term
Definition
| A restriction placed on the amount of a product allowed to enter or leave a country. (p. 138) |
Term
| World Trade Organization (WTO) |
Definition
| Institution that sets rules governing trade between its members through a panel of trade experts. (p.138) |
Term
Definition
| Consists of 27 member countries that have eliminated most barriers to the free flow of goods, services, capital, and labor across their borders. (p.139) |
Term
| North American Free Trade Agreement (NAFTA) |
Definition
| Lifted many trade barriers between Canada, Mexico, and the UNited States and created a marketplace with more than 450 million consumers. (p.139) |
Term
Definition
| Exists when firms originate, produce, and market their products and services worldwide. (p.140) |
Term
| Multidomestic Marketing Strategy |
Definition
| A multinational firm's strategy of offering as many different product variations, brand names, and advertising programs as countries in which it does business. (p.141) |
Term
| Global Marketing Strategy |
Definition
| The practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ. (p.141) |
Term
Definition
| Engages in trade and marketing in different countries as an extension of the marketing strategy in its home country. (p.141) |
Term
Definition
| Views the world as consisting of unique parts and markets to each part differently. (p.141) |
Term
Definition
| Views the world as one market and emphasizes universal consumer needs and wants more than differences among cultures. (p.141) |
Term
Definition
| A brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs. (p.142) |
Term
Definition
| Consumer groups living around the world who have similar needs or seek similar benefits from products or services. (p.143) |
Term
Definition
| The study of similarities and differences among consumers in two or more nations or societies. (p.144) |
Term
Definition
| A society's personally or socially preferable modes of conduct or states of existence that tend to persist over time. (p.144) |
Term
Definition
| Norms and expectations about the way people do things in a specific country. (p.145) |
Term
| Foreign Corrupt Practices Act (1977) |
Definition
| A law that makes it a crime for U.S. corporations to bribe an official of a foreign government or political party to obtain or retain business. (p.145) |
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Definition
| Things that represent ideas or concepts in a specific culture. (p.145) |
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Definition
| Retranslation a word or phrase back into the original language using a different interpreter to catch errors. (p.147) |
Term
Definition
| A country's communications, transportation, financial, and distribution systems. (p.147) |
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Definition
| The price of one country's currency expressed in terms or another country's currency. (p.148) |
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Definition
| Producing goods in one country and selling them in another country. (p.150) |
Term
Definition
| When a firm sells its domestically produced goods in a foreign country through an intermediary. (p.150) |
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Definition
| When a firm sells its domestically produced goods in a foreign country without intermediaries. (p.150) |
Term
Definition
| A company offers the right to a trademark, patent, trade secret, or other similarly valued item of intellectual property in return for a royalty or fee. (p.151) |
Term
Definition
| When a foreign company and a local firm invest together to create a local business, sharing ownership, control, and the profits of the new company. (p.151) |
Term
Definition
| When a domestic firm actually invests in and owns a foreign subsidiary or division. (p.152) |
Term
Definition
| Selling virtually the same product in other countries. (p.153) |
Term
Definition
| Changing a product in some way to make it more appropriate fora country's climate or consumer preferences. (p.153) |
Term
Definition
| When a company invents a totally new product designed to satisfy common needs across countries. (p.153) |
Term
Definition
| When a firm sells a product in a foreign country below its domestic price below its actual cost. (p.155) |
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Definition
| A situation in which products are sold through unauthorized channels of distribution. (p.155) |
Term
Definition
| The process of collecting and analyzing information in order to recommend actions. (p.162) |
Term
Definition
| Criteria or standards used in evaluating proposed solutions to a problem. (p.163) |
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Definition
| Restrictions placed on potential solutions to a problem. (p.164) |
Term
Definition
| Ideas about productsnor services. (p.165) |
Term
Definition
| The approaches that can be used to collect data to solve all or part of a problem. (p.165) |
Term
Definition
| The facts and figures related to a problem. (p.166) |
Term
Definition
| Facts and figures that have already been recorded before the project at hand. (p.166) |
Term
Definition
| Facts and figures that are newly collected for a project. (p.166) |
Term
Definition
| Facts and figures obtained by watching, either mechanically or in person, how people behave. (p.168) |
Term
Definition
| Facts and figures obtained by asking people about their attitudes, awareness, intentions, and behaviors. (p.170) |
Term
Definition
| The total slaes of a product that a firm expects to sell during a specified time period under specified conditions. (p.181) |
Term
Definition
| Aggregates potential buyers into groups that have common needs and will respond similarly to a marketing action. (p.188) |
Term
Definition
| The relatively homogenous groups of prospective buyers that result from the market segmentation process. (p.188) |
Term
Definition
| The strategy of using different marketing mix activities to help consumers perceive a product as being different and better than competing products. (p.188) |
Term
Definition
| The quantity consumed or the number of store visits during a specific period. (p.193) |
Term
Definition
| The idea that 80 percent of a firm's sales are obtained from 20 percent of its customers. (p.194) |
Term
Definition
| A framework relating the segments of a market to products or marketing actions of the firm. (p.197) |
Term
Definition
| The place a product occupies in consumers' minds on important features relative to competitive products. (p.202) |
Term
Definition
| Changing the placea product occupies in consumers' minds relative to competitive products. (p.202) |
Term
Definition
| A means of displaying the position of products or brands in consumers' minds. (p.203) |
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Term
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Definition
| Online trading communities that bring together buyers and supplier organizations. (p.129) |
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Term
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Definition
| Occurs when a seller puts an item up for sale and would-be buyers bid in competition with each other. (p.131) |
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Term
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Definition
| Occurs when a buyer communicates a need for something and would-be suppliers bid in competition with each other. (p.131) |
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Term
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Definition
| The practice of shielding one or more industries within a country's economy from foreign competition through use of tariffs and quotas. (p.138) |
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Term
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Definition
| A government tax on goods or services entering a country, primarily serving to raise prices on imports. (p.138) |
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Term
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Definition
| A restriction placed on the amount of a product allowed to enter or leave a country. (p. 138) |
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Term
| WORLD TRADE ORGANIZATION (WTO) |
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Definition
| Institution that sets rules governing trade between its members through a panel of trade experts. (p.138) |
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Term
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Definition
| Consists of 27 member countries that have eliminated most barriers to the free flow of goods, services, capital, and labor across their borders. (p.139) |
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Term
|
North American Free Trade Agreement (NAFTA)
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Definition
| Lifted many trade barriers between Canada, Mexico, and the UNited States and created a marketplace with more than 450 million consumers. (p.139) |
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Term
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Definition
| Exists when firms originate, produce, and market their products and services worldwide. (p.140) |
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Term
Multidomestic Marketing Strategy
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Definition
| A multinational firm's strategy of offering as many different product variations, brand names, and advertising programs as countries in which it does business. (p.141) |
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Term
| GLOBAL MARKETING STRATEGY |
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Definition
| The practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ. (p.141) |
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Term
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Definition
| Engages in trade and marketing in different countries as an extension of the marketing strategy in its home country. (p.141) |
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Term
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Definition
| Views the world as consisting of unique parts and markets to each part differently. (p.141) |
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Term
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Definition
| Views the world as one market and emphasizes universal consumer needs and wants more than differences among cultures. (p.141) |
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Term
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Definition
| A brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs. (p.142) |
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Term
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Definition
| Consumer groups living around the world who have similar needs or seek similar benefits from products or services. (p.143) |
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