Marketing Quiz 2

Front 1

the process of dividing a total market into groups of consumers who have similar needs and who respond similarly to marketing mix variables

Back 1

marketing segmentation

Front 2

market segmentation allows firms to:

Back 2

-take into account cusomer's diverse needs and differing behaviors

-design their marketing mix to be closely matched to consumer needs

-improve the efficiency and effectiveness of their resource allocation

Front 3

do not segment if:

Back 3

-the market is too small
-the market potential is largely untapped.
-consumer preferences are fairly homogeneous

Front 4

stimulate primary demand by:

Back 4

-targeting new users
-increasing usage among current users
-expanding usage situations

Front 5

the process of evaluating each market segment's attractiveness and selecting one or more segments to either

Back 5

market targeting

Front 6

actually differentiating the firm's market offering to create superior customer value

Back 6

differentation

Front 7

arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers

Back 7

positioning

Front 8

dividing a market into different geographical units such as nations, states, regions, counties, cities, or neighborhoods

Back 8

geographic segmentation

Front 9

dividing a market into groups based on variables such as age, gender, family size, family life cycle, income, occupation, education, religion, race, generation, and nationality

Back 9

demographic segmentation

Front 10

dividing a market into different age and life cycle groups

Back 10

age and life cycle segmentation

Front 11

dividing a market into different groups based on social class, lifestyle, or personality characteristics

Back 11

psychographic segmentation

Front 12

dividing a market into groups based on consumer knowledge, attitude, use, or response to a product

Back 12

behavior segmentation

Front 13

marketing strategy used to increase demand for the product category

Back 13

primary demand stimulation

Front 14

marketing strategy used to increase demand for one organization's product or services over those of competitors

Back 14

selective demand stimulation

Front 15

what is the most important variable for market segmentation

Back 15

usage pattern

Front 16

a set of buyers sharing common needs or characteristics that the company decides to serve

Back 16

target market

Front 17

a market coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer

Back 17

undifferentiated marketing

Front 18

a market coverage strategy in which a firm decides to target several market segments and designs separate offers for each

Back 18

differentiated marketing

Front 19

a market coverage strategy in which a firm goes after a large share of one or a few segments or niches

Back 19

concentrated marketing

Front 20

the practice of tailoring products and market programs to the needs and wants of specific individuals and local customer groups- includes local marketing and individual marketing

Back 20

micromarketing

Front 21

tailoring brands and promotions to the needs and wants of local customer groups-cities, neighborhoods, and even specific stores

Back 21

local marketing

Front 22

tailoring products and marketing programs to the needs and preferences of individual customers - also labled markets of one marketing, customized marketing, and one to one marketing

Back 22

idividual marketing

Front 23

the act of framing the company's image and offer in the target consumer's minds, so it occupies a distinct and valued place in relation to the competition

Back 23

positioning

Front 24

the process of information gathering, analysis and interpretation that aims helping management understanding the environment, identify problems and opportunities, and develop / evaluate courses of marketing action

Back 24

marketing research

Front 25

the framework for day-to-day management and structuring of information gathered regularly from internal and external sources

Back 25

marketing information systems

Front 26

marketing research to gather preliminary information that will help define problems and suggest hypotheses

Back 26

exploratory research

Front 27

marketing research to better describe marketing problems, situations, or markets, such as the market potential for a product or the demographics and attitudes of consumers

Back 27

descriptive research

Front 28

marketing research to test hypotheses about cause-and-effect relationships

Back 28

casual research

Front 29

information that already exists somewhere, having been collected for another purpose

Back 29

secondary data

Front 30

information collected for the specific purpose at hand

Back 30

primary data

Front 31

what are 3 criteria for evaluating research designs?

Back 31

validity, reliability, and representativeness

Front 32

explain levels of a product - the "onion" model

Back 32

core product - core benefit proposition

physical product - tangible attributes and features

augmented product - enhancements

Front 33

product bought by final consumer for personal consumption

Back 33

consumer product

Front 34

product sought by individuals and organizations for further processing or for use in conducting a business

Back 34

industrial product

Front 35

consumer good that the customer in the process of selection and purchase characteristically compares on such bases as suitability, quality, price, and style

Back 35

shopping product

Front 36

consumer product with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort

Back 36

specialyty product

Front 37

consumer product that the consumer either does not know about or knows about but does not normally think of buying

Back 37

unsought product

Front 38

consumer product that the customer usually buys frequently, immediately, and with a minimum of comparison and buying effort

Back 38

convenience product

Front 39

the characteristics of a product or service that bear on its ability to satisfy stated or implied customer needs

Back 39

product quality

Front 40

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

Back 40

brand

Front 41

the activities of designing and producing the container or wrapper for a product

Back 41

packaging

Front 42

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

Back 42

product line

Front 43

adding products that are higher or lower priced than the existing line

Back 43

line stretching

Front 44

adding more items within the present price range

Back 44

line filling

Front 45

the set of all product lines and items that a particular seller offers for sale

Back 45

product mix

Front 46

number of different product lines carried by a company

Back 46

marketing mix width

Front 47

number of different versions of each product in a product line

Back 47

product mix depth

Front 48

how closely related various product lines are in end use, production requierments, distribution channels

Back 48

product mix consistency