• Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key

image

Play button

image

Play button

image

Progress

1/98

Click to flip

98 Cards in this Set

  • Front
  • Back
The mental process through which an individual passes from first hearing about an innovation to final adoption.
Adoption process
A person's consistently favorable or unfavorable evaluations, feelings, and tendencies toward an object or idea.
attitude
A descriptive thought that a person holds about something.
belief
The buying behavior of the organizations that buy goods and services for use in the production of other products and services or for the purpose of reselling or renting them to others at a profit.
business buyer behavior
All the individuals and units that participate in the business buying-decision process.
buying center
Buyer discomfort caused by postpurchase conflict.
cognitive dissonance
The buying behavior of final consumers-- individuals and households who buy goods and services for personal consumption.
consumer buying behavior
All the individuals and households who buy or acquire goods and services for personal consumption.
consumer market
The set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions.
culture
Business demand that ultimately comes from the demand for consumer goods.
derived demand
Advances in information technology has given rise to new business to business marketing which includes online purchasing.
E-procureument
Two or more people who interact to accomplish individual or mutual goals.
group
Changes in an individual's behavior arising from experience.
learning
A person's pattern of living as expressed in his or her activities, interests, and opinions.
lifestyle
A business buying situation in which the buyer wants to modify product specifications, prices, terms, or suppliers.
modified rebuy
A need that is sufficiently pressing to direct the person to seek satisfaction of the need.
motive (drive)
A good, service, or idea that is perceived by some potential customers as new.
new product
A business buying situation in which the buyer purchases a product or service for the first time.
new task
Online social communities-- blogs, social networking Web sites, or even virtual worlds-- where people socialize or exchange information and opinions.
online social networks
Person within a reference group who, because of special skills, knowledge, personality, or other characteristics, exerts influence on others.
opinion leaders
The process by which people select, organize, and interpret information to form a meaningful picture of the world.
perception
The unique psychological characteristics that lead to relatively consistent and lasting responses to one's environment.
personality
Relatively permanent and ordered divisions in a society whose members share similar values, interests, and behaviors.
social class
A business buying situation in which the buyer routinely reorders something without any modifications.
straight rebuy
A group of people with shared value systems based on common life experiences and situations.
subculture
Selling a complete solution to a problem, helping buyers to avoid all the separate decisions involved in a complex buying situation.
systems selling (solutions)
An approach to cost reduction in which components are studied carefully to determine if they can be redesigned, standardized, or made by less costly methods of production.
value analysis
Dividing a market into different age and life-cycle groups
Age and life-cycle segmentation
Dividing a market into groups based on consumer knowledge, attitudes, uses, or responses to a product.
behavioral segmentation
Dividing the market into groups according to the different benefits that consumers seek from the product.
benefit segmentation
An advantage over competitors gained by offering greater customer value, either through lower prices or by providing more benefits that justify higher prices.
competitive advantage
A market-coverage strategy in which a firm goes after a large share of one or a few segments or niches.
concentrated (niche) marketing
Dividing the market into groups based on variables such as age, gender, family size, family life cycle, income, occupation, education, religion, race, generation, and nationality.
demographic segmentation
A market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each.
differentiated (segmented) marketing
Actually differentiating the market offering to create superior customer value.
differentiation
Dividing a market into different groups based on gender.
gender segmentation
Dividing a market into different geographical units such as nations, states, regions, countries, cities, or neighborhoods.
geographic segmentation
Dividing a market into different income groups
income segmentation
Tailoring products and marketing programs to the needs and preferences of individual customers-- also labeled "markets-of-one marketing," "customized marketing", and "one-to-one" marketing
individual marketing
Forming segments of consumers who have similar needs and buying behavior even though they are located in different countries.
intermarket segmentation
Tailoring brands and promotions to the needs and wants of local customer groups--cities, neighborhoods, and even specific stores.
local marketing
Dividing a market into smaller groups with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes.
market segmentation
The process of evaluating each market segment's attractiveness and selecting one or more segments to enter.
market targeting
The practice of tailoring products and marketing programs to the needs and wants of specific individuals and local customer groups-- includes local marketing and individual marketing.
micromarketing
Dividing the market into groups according to occasions when buyers get the idea to buy, actually make their purchase, or use the purchased item.
occasion segmentation
Arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.
positioning
A statement that summarizes company or brand positioning-- it takes this form: To (target segment and need) our (brand) is (concept) that (point-of-difference).
positioning statement
The way the product is defined by consumers on important attributes-- the place the product occupies in consumers' minds relative to competing products.
product position
Dividing a market into different groups based on social class, lifestyle, or personality characteristics.
psychographic segmentation
A set of buyers sharing common needs or characteristics that the company decides to serve.
target market
A market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer.
undifferentiated (mass) marketing
The full positioning of a brand-- the full mix of benefits upon which it is positioned.
value proposition
A name, term, sign, symbol, or design or a combination of these that identifies the products or services of one seller or group of sellers and differentiates them from those of competitors.
brand
The positive differential effect that knowing the brand name has on customer response to the product or service.
brand equity
Extending an existing brand name to new product categories.
brand extension
The practice of using the established brand names of two different companies on the same product.
co-branding
Product bought by final consumer for personal consumption.
consumer product
Consumer product that customers usually buy frequently, immediately, and with a minimum of comparison and buying effort.
convenience product
Product bought by individuals and organizations for further processing or for use in conducting a business.
industrial product
Training service employees in the fine art of interacting with customers to satisfy their needs.
interactive marketing
Orienting and motivating customer-contact employees and the supporting service people to work as a team to provide customer satisfaction.
internal marketing
Extending an existing brand name to new forms, colors, sizes, ingredients, or flavors of an existing product category.
line extension
The activities of designing and producing the container or wrapper for a product.
packaging
Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need.
product
A group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlets, or fall within given price ranges.
product line
The set of all product lines and items that a particular seller offers for sale.
product mix (product portfolio)
The characteristics of a product or service that bear on its ability to satisfy stated or implied customer needs.
product quality
Any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything.
service
A major characteristic of services-- they are produced and consumed at the same time and cannot be separated from their providers.
service inseparability
A major characteristic of services-- they cannot be seen, tasted, felt, heard, or smelled before they are bought.
service intangibility
A major characteristic of services-- they cannot be stored for later sale or use.
service perishability
The chain that links service firm profits with employee and customer satisfaction.
service-profit chain
A major characteristic of services-- their quality may vary greatly, depending on who provides them and when, where, and how.
service variability
Consumer good that the customers, in the process of selection and purchase, characteristically compare on such bases as suitability, quality, price, and style.
shopping product
The use of commercial marketing concepts and tools in programs designed to influence individual's behavior to improve their well-being and that of society.
social marketing
Consumer product with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort.
specialty product
A brand created and owned by a reseller of a product or service
store brand (private brand)
Consumer product that the consumer either does not know about or knows about but does not normally think of buying.
unsought product
A review of the sales, costs, and profit projections for a new product to find out whether these factors satisfy the company's objectives.
Business analysis
Introducing a new product into the market.
commercialization
Testing new-product concepts with a group of target consumers to find out if the concepts have strong consumer appeal.
concept testing
New-product development that focuses on finding new ways to solve customer problems and create more customer-satisfying experiences.
customer-centered new product development
The PLC stage in which product's sales decline
decline stage
A temporary period of unusually high sales driven by consumer enthusiasm and immediate product or brand popularity.
fad
A currently accepted or popular style in a given field.
fashion
The PLC stage in which a product's sales start climbing quickly.
growth stage
The systematic search for new-product ideas.
idea generation
Screening new-product ideas in order to spot good ideas and drop poor ones as soon as possible.
idea screening
The PLC stage in which the new product is first distributed and made available to purchase
Introduction stage
Designing an initial marketing strategy for a new product based on the product concept.
Marketing-strategy development
The PLC stage in which sales growth slows or levels off.
maturity stage
The development of original products, product improvements, product modifications, and new brands through the firm's own product development efforts.
new-product development
A detailed version of the new-product idea stated in meaningful consumer terms.
product concept
Developing the product concept into a physical product in order to ensure that the product idea can be turned into a workable market offering.
product development
The course of a product's sales and profits over its lifetime.
Product Life cycle (PLC)
A basic distinctive mode of expression.
style
An approach to developing new products in which various company departments work closely together, overlapping the steps in the product development process to save time and increase effectiveness.
team-based new-product development
The stage of new-product development in which the product and marketing program are tested in realistic market settings.
test marketing