Clep Principles Of Marketing - The Marketing Environment Ch. 3

Front 1

Characteristics in market must be

Back 1

measurable and can be demographic or behavioral

Front 2

Behavioral dimensions of market include

Back 2

purchase occasion, user status, user rate, brand loyalty and customer attitudest towards products

Front 3

psychographics

Back 3

factors that influence a consumers' patters of lifestyle or living including activities, interests, opinions, social class, personality, and values

Front 4

market segmentation

Back 4

when big target area is broken down into smaller parts so that the group responds in the same way

Front 5

process of segmenting markets steps

Back 5

1. variables are chosen and market is divided by these variables 2. profiling each segment according to demographics and behavioral characteristics

Front 6

Market targeting

Back 6

once the ideal segment has been identified and chosen

Front 7

Three conditions for homogeneous response to market targeting

Back 7

bases must be measurable, segment must be accessible through existing channels, each segment must be large to be profitable

Front 8

single variation segmentation

Back 8

not very succesful

Front 9

multi-variable segmentation

Back 9

works because there is correlation between different demographic variables

Front 10

single segment strategy

Back 10

concentration strategy

Front 11

multiple segment strategy

Back 11

differentiated marketing

Front 12

mass marketing strategy

Back 12

undifferentiated strategy

Front 13

primary determinant how consumers reach purchase decision

Back 13

involvement

Front 14

high involvement decision making process

Back 14

1. need for 2. search for info 3. view alternatives 4. purchase 5. postpurchase behavior

Front 15

postpurchase cognitive dissonance

Back 15

buyers remorse

Front 16

low involvement decision making

Back 16

1. need 2. purchase 3. postpurchase behavior

Front 17

derived demand

Back 17

resellers get ther demand based on their consumers' demand

Front 18

nonconsumer characteristics

Back 18

customer type, customer size, buying situation

Front 19

buying situation types

Back 19

new-task buying, straight rebuy, modified rebuy

Front 20

individuals who affect decision making process in business

Back 20

buyers, users, influencers, gatekeepers, deciders

Front 21

buying center

Back 21

all the people involved in making purchase decision