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152 Cards in this Set

  • Front
  • Back
§ Marketing Information
everyday information about developments in the marketing environment that managers use to prepare and adjust marketing plans.
§ Decision Support System (DSS)
an interactive, flexible, computerized information system that enables managers to obtain and manipulate information as they are making decisions.
§ Database Marketing
the creation of a large computerized file of customers’ and potential customers’ profiles and purchase patterns.
§ Marketing Research
the process of planning, collecting, and analyzing data relevant to a marketing decision.
§ Marketing Research Problem
determining what information is needed and how that information can be obtained efficiently and effectively.
§ Marketing Research Objective
the specific information needed to solve a marketing research problem; the objective should be to provide insightful decision-making information.
§ Management Decision Problem
a broad-based problem that uses marketing research in order for managers to take proper actions.
§ Secondary Data
data previously collected for any purpose other than the one at hand.
§ Marketing Research Aggregator
a company that acquires, catalogs, reformats, segments, and resells reports already published by marketing research firms.
§ Research Design
specifies which research questions must be answered, how and when the data will be gathered, and how the data will be analyzed.
§ Primary Data
information that is collected for the first time; used for solving the particular problem under investigation.
§ Survey Research
the most popular technique for gathering primary data, in which a researcher interacts with people to obtain facts, opinions, and attitudes.
§ Mall Intercept Interview
a survey research method that involves interviewing people in the common areas of shopping malls.
§ Computer-Assisted Personal Interviewing
an interviewing method in which the interviewer reads questions from a computer screen and enters the respondents data directly into the computer.
§ Computer-Assisted Self-Interviewing
an interviewing method in which a mall interviewer intercepts and directs willing respondents to nearby computers where each respondent reads questions off a computer and directly keys his/her answer into a computer.
§ Central-Location Telephone (CLT) Facility
a specially designed phone room used to conduct telephone interviewing.
§ Executive Interview
a type of survey that involves interviewing businesspeople at their offices concerning industrial products or services.
§ Focus Group
seven to ten people who participate in a group discussion led by a moderator.
§ Open-Ended Question
an interview question that encourages an answer phrased in the respondents own words.
§ Close-Ended Questions
an interview question that asks the respondent to make a selection from a limited list of responses.
§ Scaled-Response Question
a close-ended question designed to measure the intensity of a respondents answer.
§ Observation Research
a research method that relies on four types of observation; 1) people watching people, 2) people watching an activity, 3) machines watching people, and 4) machines watching an activity.
§ Mystery Shoppers
researchers posing as customers who gather observational data about a store.
§ Behavioral Targeting (BT)
a form of observation marketing research that combines a consumers online activity with psychographic and demographic profiles compiled in databases.
§ Ethnographic Research
the study of human behavior in its natural context; includes observation of behavior and physical setting.
§ Experiment
a method of gathering primary data in which the researcher alters one or more variables while observing the effects of those alterations on another variable.
§ Sample
a subset from a larger population.
§ Universe
the population from which a sample will be drawn.
§ Probability Sample
a sample in which every element in the population has a known statistical likelihood of being selected.
§ Random Sample
a sample arranged in such a way that every element of the population has an equal chance of being selected as part of the sample.
§ Nonprobability Sample
any sample in which little to no attempt is made to get a representative cross of the population.
§ Convenience Sample
a form of nonprobability sample using respondents who are convenient or readily accessible to the researcher – for example, employees, friends, or relatives.
§ Measurement Error
an error that occurs when there is a difference between the information desired by the researcher and the information provided by the measurement process.
§ Sampling Error
an error that occurs when a sample somehow does not represent the target population.
§ Frame Error
an error that occurs when a sample drawn from a population differs from the target population.
§ Random Error
an error that occurs when the selected sample is an imperfect representation of the overall population.
§ Field Service Firm
a firm that specializes in interviewing respondents on a subcontracted basis.
§ Cross-Tabulation
a method of analyzing data that lets the analyst look at the responses to one question in relation to the responses of one or more questions.
§ Consumer-Generated Media (CGM)
media that consumers generate and share among themselves.
§ Scanner-Based Research
a system for gathering information from a single group of respondents by continuously monitoring the advertising, promotion, and pricing they are exposed to and the things they buy.
§ Behavior Scan
a scanner-based research program that tracks the purchases of 3,000 households through store scanners in each research market.
§ Info Scan
a scanner-based sales-tracking service for the consumer packaged-goods industry.
§ Neuromarketing
a field of marketing that studies the body’s responses to marketing stimuli.
§ Competitive Intelligence (CI)
an intelligence system that helps managers assess their competition and vendors in order to become more efficien1t and effective competitors.
§ Product
everything, both favorable and unfavorable, that a person receives in an exchange.
§ Business Product (Industrial Product)
a product used to manufacture other goods or services, to facilitate an organization’s operations, or to resell to other customers.
§ Consumer Product
a product bought to satisfy an individuals personal wants.
§ Convenience Product
a relatively inexpensive item that merits little shopping effort.
§ Shopping Product
a product that requires comparison shopping because it is usually more expensive than a convenience product and is found in fewer stores.
§ Specialty Product
a particular item for which consumers search extensively and are very reluctant to accept substitutes.
§ Unsought Product
a product unknown to the potential buyer or a known product that the buyer does not actively seek.
§ Product Item
a specific version of a product that can be designated as a distinct offering among an organization’s products.
§ Product Line
a group of closely related products.
§ Product Mix
all products that an organization sells.
§ Product Mix Width
the number of product lines an organization offers.
§ Product Line Depth
the number of product items in a product line.
§ Product Modification
changing one or more of a products characteristics.
§ Planned Obsolescence
the practice of modifying products so those that have already been sold become obsolete before they actually need replacement.
§ Product Line Extension
adding additional products to an existing product line in order to compete more broadly in the industry.
§ Brand
a name, term, symbol, design, or combination thereof that identifies a seller’s products and differentiates them from competitors’ products.
§ Brand Name
that part of a brand that can be spoken, including letters, words, and numbers.
§ Brand Mark
the elements of a brand that cannot be spoken.
§ Brand Equity
the value of the company and brand names.
§ Global Brand
a brand that obtains at least a third of its earnings from outside its home country, is recognizable outside its home base of customers, and has publicly available marketing and financial data.
§ Brand Loyalty
consistent preference for one brand over all others.
§ Manufacturer’s Brand
the brand name of a manufacturer.
§ Private Brand
a brand name owned by a wholesaler or retailer.
§ Captive Brand
a brand manufactured by a third party for an exclusive retailer, without evidence of that retailers affiliation.
§ Individual Branding
using different brand names for different products.
§ Family Branding
marketing several different products under the same brand name.
§ Co-Branding
placing two or more brand names on a product or its package.
§ Trademark
the exclusive right to use a brand or part of a brand.
§ Service Mark
a trademark for a service.
§ Generic Product Name
identifies a product by class or type and cannot be trademarked.
§ Persuasive Labeling
a type of package labeling that focuses on a promotional theme or logo, and consumer information is secondary.
§ Informational Labeling
a type of package labeling designed to help consumers make proper product selections and lower their cognitive dissonance after the purchase.
§ Universal Product Codes (UPC’s)
a series of thick and thin vertical lines (bar codes), readable by computerized optical scanners, that represent numbers used to track products.
§ Warranty
a confirmation of the quality or performance of a good or service.
§ Express Warranty
a written guarantee.
§ Implied Warranty
an unwritten guarantee that the good or service is fit for the purpose for which it was sold.
Chapter 11
Developing and Managing Products
§ New Product
a product new to the word, the market, the producer, the seller, or some combination of these.
§ New-Product Strategy
a plan that links the new-product development process with the objectives of the marketing department, the business unit, and the corporation.
§ Product Development
a marketing strategy that entails the creation of marketable new products; the process of converting applications for new technologies into marketable products.
§ Brainstorming
the process of getting a group to think of unlimited ways to vary a product or solve a problem.
§ Screening
the first filter in the product development process, which eliminates ideas that are inconsistent with the organizations new-product strategy or are obviously inappropriate for some other reason.
§ Concept Test
a test to evaluate a new-product idea, usually before any prototype has been created.
§ Business Analysis
the second stage of the screening process where preliminary figures for demand, cost, sales, and profitability are calculated.
§ Development
the stage in the product development process in which a prototype is developed and a marketing strategy is outlined.
§ Simultaneous Product Development
a team-oriented approach to new-product development.
§ Test Marketing
the limited introduction of a product and a marketing program to determine the reactions of potential customers in a market situation.
§ Simulated (Laboratory) Market Testing
the presentation of advertising and other promotional materials for several products, including a test product, to members of the product’s target market.
§ Commercialization
the decision to market a product.
§ Innovation
a product perceived as new by a potential adopter.
§ Diffusion
the process by which the adoption of an innovation spreads.
§ Product Life Cycle (PLC)
a concept that provides a way to trace the stages of a product’s acceptance, from its introduction (birth) to its decline (death).
§ Product Category
all brands that satisfy a particular type of need.
§ Introductory Stage
the full-scale launch of a new product into the marketplace.
§ Growth Stage
the second stage of the product life cycle when sales typically grow at an increasing rate, many competitors enter the market, large companies may start to acquire small pioneering firms, and profits are healthy.
§ Maturity Stage
a period during which sales increase at a decreasing rate.
§ Decline Stage
a long-run drop in sales.
§ Marketing Channel (Channel of Distribution)
a set of interdependent organizations that eases the transfer of ownership as products move from producer to business user or consumer
§ Channel Members
all parties in the marketing channel who negotiate with one another, buy and sell products, and facilitate the change of ownership between buyer and seller in the course of moving the product from the manufacturer into the hands of the final consumer.
§ Discrepancy of Quantity
the difference between the amount of product produced and the amount an end user wants to buy.
§ Discrepancy of Assortment
the lack of all the items a customer needs to receive full satisfaction from a product or products.
§ Temporal Discrepancy
a situation that occurs when a product is produced but a customer is not ready to buy it.
§ Spatial Discrepancy
the difference between the location of a producer and the location of widely scattered markets.
§ Retailer
a channel intermediary that sells mainly to consumers.
§ Merchant Wholesaler
an institution that buys goods from manufacturers and resells them to businesses, government agencies, and other wholesalers or retailers and that receives and takes title to goods, stores them in its own warehouses, and later ships them.
§ Agents and Brokers
wholesaling intermediaries who do not take title to a product but facilitate its sale from producer to end user by representing retailers, wholesalers, and manufacturers.
§ Logistics
the efficient and cost-effective forward and reverse flow and storage of goods, services, and related information into, through, and out of channel member companies.
§ Direct Channel
a distribution channel in which producers directly sell to customers.
§ Dual Distribution (Multiple Distribution)
the use of two or more channels to distribute the same product to target markets.
§ Strategic Channel Alliance
a cooperative agreement between business firms to use the others already established distribution channel.
§ Intensive Distribution
a form of distribution aimed at having a product available in every outlet where target customers might want to buy it.
§ Selective Distribution
a form of distribution achieved by screening dealers to eliminate all but a few in any single area.
§ Exclusive Distribution
a form of distribution that establishes one or a few dealers within a given area.
§ Arms-Length Relationship
a relationship between companies that is loose, characterized by low relational investment and trust, and usually taking the form of a series of discrete transactions with no or low expectation of future interaction or service.
§ Cooperative Relationship
a relationship between companies that takes the form of informal partnership with moderate levels of trust and information sharing as needed to further each company’s goals.
§ Integrated Relationship
a relationship between companies that is tightly connected, with linked processes across and between firm boundaries and high levels of trust and interfirm commitment.
§ Channel Power
the capacity of a particular marketing channel member to control or influence the behavior of other channel members.
§ Channel Control
a situation that occurs when one marketing channel member intentionally affects another member’s behavior.
§ Channel Leader (Captain)
a member of a marketing channel that exercises authority and power over the activities of other channel members.
§ Channel Conflict
a clash of goals and methods between distribution channel members.
§ Horizontal Conflict
a channel conflict that occurs among channel members on the same level.
§ Vertical Conflict
a channel conflict that occurs between different levels in a marketing channel, most typically between the manufacturer and wholesaler or between the manufacturer and retailer.
§ Channel Partnering (Channel Cooperation)
the joint effort of all channel members to create a channel that serves customers and creates a competitive advantage.
§ Supply Chain
the connected chain of all of the business entities, both internal and external to the company, that perform or support the logistics function.
§ Supply Chain Management
a management system that coordinates and integrates all of the activities performed by supply chain members in a seamless process, from the source to the point of consumption, resulting in enhanced customer and economic value.
§ Supply Chain Integration
when multiple firms in a supply chain coordinate their activities and processes so that they are seamlessly linked to one another in an effort to satisfy the customer.
§ Business Processes
bundles of interconnected activities that stretch across firms in the supply chain.
§ Customer Relationship Management Process (CRM)
allows companies to prioritize their marketing focus on different customer groups according to each group’s long-term value to the company or supply chain.
§ Customer Service Management Process
presents a multi-company, unified response system to the customer whenever complaints, concerns, questions, or comments are voiced.
§ Demand Management Process
seeks to align supply and demand throughout the supply chain by anticipating customer requirements at each level and creating demand-related plans of action prior to actual customer purchasing behavior.
§ Order Fulfillment Process
a highly integrated process, often requiring persons from multiple companies and multiple functions to come together and coordinate to create customer satisfaction at a given place and time.
§ Manufacturing Flow Management Process
concerned with ensuring that firms in the supply chain have the needed resources to manufacture with flexibility and to move products through a multi-stage production process.
§ Supplier Relationship Management Process
supports manufacturing flow by identifying and maintaining relationships with highly valued suppliers.
§ Product Development and Commercialization Process
includes the group of activities that facilitates the joint development and marketing of new offerings among a group of supply chain partner firms.
§ Returns Management Process
enables firms to manage volumes of returned product efficiently while minimizing returns-related costs and maximizing the value of the returned assets to the firms in the supply chain.
§ Logistics
the process of strategically managing the efficient flow and storage of raw materials, in-process inventory, and finished goods from point of origin to point of consumption.
§ Supply Chain Team
an entire group of individuals who orchestrate the movement of goods, services, and information from the source to the consumer.
§ Mass Customization (Build-to-Order)
a production method whereby products are not made until an order is placed by the customer; products are made according to customer specifications.
§ Just-In-Time Production (JIT)
a process that redefines and simplifies manufacturing by reducing inventory levels and delivering raw materials at the precise time they are needed on the production line.
§ Order Processing System
a system whereby orders are entered into the supply chain and filled.
§ Electronic Data Interchange (EDI)
information technology that replaces the paper documents that usually accompany business transactions, such as purchase orders and invoices, with electronic transmission of the needed information to reduce inventory levels, improve cash flow, streamline operations, and increase the speed and accuracy of information transmission.
§ Inventory Control System
a method of developing and maintaining an adequate assortment of materials or products to meet a manufacturers or a customers demand.
§ Materials Requirement Planning (MRP); Materials Management
an inventory control system that manages the replenishment of raw materials, supplies, and components from the supplier to the manufacturer.
§ Distribution Resource Planning (DRP)
an inventory control system that manages the replenishment of goods from the manufacturer to the final customer.
§ Automatic Replenishment Program
a real-time inventory system that triggers shipments only when a good is sold to the end user.
§ Materials-Handling System
a method of moving inventory into, within, and out of the warehouse.
§ Outsourcing (Contract Logistics)
a manufacturers or suppliers use of an independent third party to manage an entire function of the logistics system, such as transportation, warehousing, or order processing.
§ Electronic Distribution
a distribution technique that includes any kind of product or service that can be distributed electronically, whether over traditional forms such as fiber-optic cable or through satellite transmission of electronic signals.