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35 Cards in this Set

  • Front
  • Back
Lets a firm classify each strategic business unit (SBU) in terms of market share relative to major competitors and annual industry growth. The matrix identifies four types of SBUs: star, cash cow, question mark, and dog, and offers strategies for them.
Boston Consulting Group Matrix
The consistent repurchase of and preference toward a particular brand. With it, people can reduce time, thought, and risk.
brand loyalty
Doubt that a correct purchase decision has been made. To overcome dissonance, a firm must realize that the consumer decision process does not end with a purchase.
Cognitive Dissonance
An in-depth, computerized search of available information to find profitable marketing opportunities that may otherwise be hidden.
data mining
A type of research in which one or more factors are manipulated under controlled conditions. Experiments are able to show cause and effect.
Used when a researcher is uncertain about the precise topic to be investigated, or wants to informally study an issue.
Exploratory Research
A consumer-oriented, market-driven, value-based, integrated, goal-oriented philosophy for a firm, institution, or person.
Marketing Concept
Involves systematically gathering, recording, and analyzing information about specific issues related to the marketing of goods, services, organizations, people, places, and ideas.
Marketing Research
Outlines the way in which the marketing mix is used to attract and satisfy the target market(s) and achieve an organization's goals
Marketing Strategy
Mission Statement
Involves the positive or negative needs, goals, and desires that impel a person to or away from certain actions, objects, or conditions.
The reasons for behavior.
A research method whereby present behavior or the results of past behavior are observed and noted. People are not questioned and cooperation is unnecessary.
Consist of information gathered to address a specific issue or problem at hand.
Primary Data
The stage in the final consumer's decision process during which a consumer recognizes that the good, service, organization, person, place, or idea under consideration may solve a problem of shortage or unfulfilled desire.
Problem Awareness
A group that influences a person's thoughts or actions.
Reference Group
Occurs when a person buys out of habit and skips steps in the decision process. In this category are items with which a person has much experience.
Routine Decision
Consist of information not collected for the issue or problem at hand but for some other purpose. The two sources of secondary data are internal and external.
Secondary Data
A survey technique using rating scales of bipolar (opposite) adjectives. An overall company or product profile is then devised.
Semantic Differential
Identifies an organization's internal strengths and weaknesses and external opportunities and threats. It seeks to answer: Where is a firm now? In what direction is it headed?
Situation Analysis
A cue (social, commercial, or noncommercial) or a drive (physical) meant to motivate a person to act.
Outlines the marketing actions to undertake, why they are needed, who carries them out, when and where they will be completed, and how they will be coordinated.
Strategic Marketing Plan
Gathers information by communicating with respondents in person, by phone, or by mail.
Strenths, Weaknesses, Opportunities, and Threats
SWOT Analysis
products sold for personal, family, or household use
purchase for business purposes
how one will compete or what will make one unique
Strategic Marketing
buy when you have a problem, not before, has to be triggered by a stimulus or cue
Problem Definition
speed at which one goes through the consumer decision process
age, race, income, gender
descriptions of customers