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134 Cards in this Set

  • Front
  • Back

consumer insight is...

perceived meanings of data collected from the study of consumer behavior

why customers like one product over another

marketing research is...

the acquisition and analysis of info used to identify and define marketing opportunities that connect consumers to marketers

market research falls into 2 categories:

applied research

pure research

applied research

helps answer practical problems

pure research

more scientific

looking for a cure for cancer

uses of marketing research

make better decisions;

identify opportunities (and threats);

monitor performance

5 market research process steps

1 define the problem (most important)

2 design the research

3 conduct the research

4 analyze the data

5 address the problem

define the problem (market research process steps)

what do you want to learn?

will the results matter?

is it cost effective?

types of research data

secondary data (types of research data)

data collected from other people's research; always start with secondary


-available more quickly and at a lower cost than primary data

-may provide data the company can't secure on its own


-desire info may not exist

-not all info found is usable; carefully evaluate info to be certain it is relevant, accurate, current, and impartial

primary data (types of research data)

data you collect yourself

-must be relevant, accurate, current, and unbiased

-must determine:

research approach

contact methods

sampling plan

research instruments

research design categories (important)

-exploratory - why do consumers purchase brand X?

-descriptive - who, what, where, when; how often do consumers shop for groceries and where do they shop?

-explanatory - what happens if we increase the price

-exploratory - very broad; helps become more focused and narrow down

-descriptive - who, what, where, when;

-explanatory - willingness to buy or pay; relationship between dependent and independent variables - like experiments

qualitative (research types)

things you can't capture through a survey

focus groups, interviews, observational, ethnographic (when researcher immerse themselves in the group)

quantitative (research types)



focus groups (qualitative research)

6 to 10 people

trained moderator



-difficult to generalize from small group

-consumers not always open and honest

observational research (qualitative research)

many restaurants, retail stores, and other service-oriented businesses use mystery shoppers - a type of observational research - to evaluate the quality of customer service and aspects of the facilities

survey research (qualitative research)

surveys can help marketers to understand attitudes, willingness to buy, satisfaction level, etc

experimental research (quantitative research)

is best for gathering causal info: cause-and-effect relationships

examples: putting peanut butter and jelly next to the bread; putting a cheaper brand by the higher end brands to see if they think it's a higher end item

online research


-low cost


-higher response rates

-good for hard to reach groups

4 measurement scale types

-nominal - classification - can be limited; yes/no; male/female

-ordinal - order - indicate level of education: HS, some college, bachelor's, graduate degree

-interval - temperature - is 80 degrees twice as hot as 40 degrees?; size of differences

-ratio - number of hot dogs purchased, time spent reading textbooks, etc;

questionnaire development

respondent motivation - complete survey; be open and honest

-speak respondent language

-screening questions

-classification questions

sample plan

determines how who/many people will be sampled

probability sample

everyone has the same chance of being included in the sample

nonprobability sample

not equal chance of being selected for sample;

convenience sample - because the person is there

purposive sample -

snowball sample - ask 5 friends and then have them ask 5 friends etc.

quota sample - 20 seniors, 20 juniors, 20 sophomores, 20 freshman

conduct the research

-collect data

-make sure there are no nonsampling errors - biased

-validity - accuracy

-reliability - consistent

analyze the research
statistical analysis
descriptive statistics - ex: demographics
group differences

address the problem

-write report of findings

-conclusive findings


-write for the intended reader

a marketing information system is...

a series of steps that include collection, analysis, and presentation of information for use in making marketing decisions

looking at competitors

marketing information systems

-internal company data

-market intelligence systems

-decision - support data

-marketing research systems

competitive marketing intelligence (developing marketing information)
the systematic collection and analysis of publicly available info about consumers, competitors and developments in the marketplace

a brand is...

a promise to deliver specific benefits associated with products or services to consumers

60% of the best known brands are over 50 years old

benefits of a brand to manufacturers

represents ownership

distinguishes from competitors

adds value

benefits of a brand to consumers

delivers a promise

offers consistency

product (product vs brand)

made in a factory

easily duplicated

can be outdated


brand (product vs brand)

created through marketing efforts



has personality

branding benefits

-higher perceived quality

-price premium

-greater market share

-financial strength

-brand extensions - brand expanding into different categories

brand equity is...

the power of a brand, through creation of a distinct image, to influence customer behavior

can dramatically increase the price that consumers are willing to pay

applications of brand equity

-channel switching - P&G buying Iams dog food and selling it everywhere instead of just pet club etc

-brand stretching - allows for new products to be introduced under that brand name

-brand alliances - co-branding; 2 brands on one product; ie southwest visa card, NFL on budweiser can, etc

-relationship building - the bigger the brand, the stronger the relationship

-supplier advantages - strong products attracts suppliers for better sales

building brand equity

loyalty (more repeat purchases) >commitment (brand relationships) >customer equity (how is the consumer going to respond to the brand?)> brand equity

a strong brand...

occupies a distinct position in consumer's minds based on relevant benefits and creates an emotional connection between businesses and consumers

building strong brands

provide identity


project the right message


saves time

provide identity

project the right message

saves time

attributes, benefits, values (building strong brands) IMPORTANT

need more
  • attributes - the basic elements of a product
  • benefits - what is the benefit to the customer
  • values - does it create an emotional connection with the customer?

positioning strategy - are we going for attributes like teeth whitening, or benefits, or values like "giving you white smiles for life"

brand personality scale

  • sincerity - down to earth, honest, wholesome, cheerful; ex: campbells, hallmark, kodak
  • excitement - daring, spirited, imaginative, up-to-date; ex: porsche, absolut
  • competence - reliable, intelligent, successful; ex: amex, CNN, IBM
  • sophistication - upperclass, charming; ex: lexus, mercedes
  • ruggedness - outdoorsy, tough; ex: levi's, marlboro, nike

brand name selection


-describes something about the product/service

-memorable - easy to pronounce, recognize and remember

-appropriate for the category

-extendable to other categories; ex: amazon started with books and now sells everything

-exportable - easily translated to other languages/countries

-protectable - make sure it doesn't become generic

brand sponsorship

-manufacturer (national) brands; ex: heinz, kellogg's

-licensing - can license your brand out; ex: bandaid using disney designs

-co-branding - kellog's pop-tarts with smucker's jelly

-store (private label) brands - fry's/kroger, safeway

brand development strategies

brand extension - tide making tide pens

line extension - tide with bleach or in a different size

multibrands - one product category with multiple brands; ex P&G has tide, gain, downey

new brands - fabreez, swiffer

brand extension - going into different category; ex: tide making tide pens

line extension - coming out with a different color, size, flavor; ex: tide with bleach or in a different size

multibrands - one product category with multiple brands; ex P&G has tide, gain, downey

new brands - entirely new brand and new category; ex: fabreez, swiffer

brand management is...

the overall coordination of a brand's equities to create long-term brand growth through overseeing marketing mix strategies

managing brands

-consistent brand message

-manage customer experience

-focus on long-term growth

brand protection

-product recalls

-bad publicity

-counterfeit products


products are...

items consumed for personal or business use

services are...

activities that deliver benefits to consumers or businesses

distinctions of a service


-inseparable - can't separate the service from service provider; ex: cant learn marketing 300 w/o a prof

-perishable - can't store or save for later use

-variability - who is providing the service; can have a change on experience; ex: which prof is teaching mkt 300

the product-service continuum

levels of product

core benefits - fundamental benefit that the consumer is buyer; ex: buying a car, the core benefit is transportation

consumer product classifications

convenience - gum, soda, chips

shopping - tvs, computers, speakers

unsought - don't like to think about - casket,

specialty - unique, higher price, - crystal stemware, rolex

new product development

idea generation (unmet needs in the marketplace)>

idea screening (collect ideas and choose best) >

concept development (concept of the product)>

business analysis (will we make money from the product?)>

market testing> commercialization (launch product)

types of new products

-cosmetic (incremental) - bluetooth 3.0 >4.0

-context (new direction) - what happened to the music industry when ipod/itunes was released

-concept (breakthrough) - PC, airplanes

a product portfolio is...

the collection of all products and services offered by a company

product mix width - # of product lines a company offers

product mix depth - number of products within each line

product mix length - total # of products offered

the product life cycle is...

a model describing the evolution of a product's sales and profit throughout its lifetime

product life cycle





aka PLC





intro stage (product life cycle)

sales volume - low

product features - basic

retail outlets - limited

marketing goal - trial; get people to try it

*profits are negative in the intro stage

growth stage (product life cycle)

sales volume - growing

product features - increasing

retail outlets - increasing

marketing goal - preference

maturity stage (product life cycle)

sales volume - flat

product features - new

retail outlets - maximum

marketing goal - preference

ways to increase sales:

-line extensions

-new users

-new uses

decline stage (product life cycle)

sales volume - declining

product features - reduced

retail outlets - reduced

marketing goal - survival

adopter categorization IMPORTANT

  • innovators - up to try anything new
  • early adopters - consider the social aspects; ex: camping out for the iphone
  • early majority - don't want to be first, but don't wan to be last
  • late majority - old more conservative; won't adopt if they consider it risky
  • laggards - follow traditions; last to adopt

product mix width

product categories

ex: cameras, tvs, computers, etc

product mix depth

how many they make in each category

ex: desktop, laptop, notebook

product mix length

total number of products being offered

a marketing channel is...

a network of all parties involved in moving products or services from producers to consumers or business customers

marketing functions




exchange (marketing functions)


-negotiate prices

-place orders

-make sales

physical (marketing functions)

-store and transport

-create assortments

-break bulk

facilitating (marketing functions)

-gather info

-provide credit

how much of a product's cost is attributed to distribution costs?


how many contacts are made between manufacturers and consumers?

36 contacts

how many contacts are made between manufacturers and consumers when an intermediary (retailer) is involved?


channel intermediaries

-resellers - wholesalers (work with smaller stores), retailers (large stores like walmart, target, etc)

-brokers - agents

-facilitators - transportation companies

*both brokers and facilitators never take title of the product

a channel strategy...

involves the decisions a manufacturer makes to effectively and efficiently move its products to the customer

CONSUMER marketing channels picture

BUSINESS marketing channels picture

multichannel design picture

Distribution intensity picture

distribution intensity explained

-intensive - getting products in as many places as possible ex: coca cola

-selective - not going everywhere; a little less selective; ex: cameras

- exclusive - limited in geographic areas

product (channel strategy factors)

short channels - technical; perishables; not as many steps to get it to you; ex: flowers

long channels - standardized; durable; less expensive

customer (channel strategy factors)

short chan - price negotiations; high level of service

long chan - broad assortment; product inspection

organization (channel strategy factors)

short chan - larger firms; broad product line

long chan - smaller firms; narrow product line

channel organization

conventional channel

vertical marketing system

conventional channel (channel organization)


all channel members work independently

vertical marketing system (channel organization)

producer, wholesaler, retailer (one channel member takes over) > consumer

horizontal marketing system (channel organization)

when 2 or more channels from an alliance share some resources; ex: starbucks inside of a target

vertical conflict (channel conflict)


horizontal conflict (channel conflict)

multichannel conflict (channel conflict)

logistics is...

the coordination of all activities related to the movement of raw materials and finished goods that occur within the boundaries of a single business or organization

logistics diagram

inbound logistics

movement of products from suppliers to a company (tires)

outbound logistics

movement of products from company to customer (dealership, retailer)

reverse logistics

moving product backwards through the system (returns)

logistics decisions

  • production
  • inventory
  • location
  • transportation
  • information (in the center)

production (logistics decisions)

what, how, and when to produce

inventory (logistics decisions)

how much to make and how much to store

location (logistics decisions)

where best to do what activity

transportation (logistics decisions)

how and when to move product

information (logistics decisions)

the basics for making these decisions

logistics decisions diagram

physical distribution is...

the process of moving finished goods to customers through various transportation modes (shippers, carriers, consignees)

shippers (physical distribution)

producers of the goods, owner of the goods

carriers (physical distribution)

transport the goods to the consignees

consignees (physical distribution)

retailers, wholesalers

modes of transportation

  • trucks are the most popular form of transportation
  • air is the fastest
  • train is the most cost effective
  • water is the slowest form

breaking bulk (warehousing)

breaking down big bulk of products to create assortments

RFID chip (warehousing)

tracks the precise location of product

barcode/UPC (warehousing)

scan for price and where product should go

distribution center (warehousing)

very large warehouses

retailing is...

the activities involved in the sale of products to consumers for their personal, nonbusiness use

retailers diagram

utility - when and where we need it and in the right form
financial - payment between the retailer and the consumer
educate - demonstrate a product's function and use to the potential buyer
handle returns - take it back and they can take care of i...
  1. utility - when and where we need it and in the right form
  2. financial - payment between the retailer and the consumer
  3. educate - demonstrate a product's function and use to the potential buyer
  4. handle returns - take it back and they can take care of it for you

types of retailers

  • specialty
  • category killer
  • department
  • discount
  • off-price
  • warehouse
  • supermarkets
  • convenience

specialty (types of retailers)

narrow, focused

ex: david's bridal

category killer (types of retailers)

office max, toy's r us, petco, best buy

department (types of retailers)

wide variety of department lines

ex: nordstrom, sears

discount (types of retailers)

standard merchandise at lower prices

walmart target

off-price (types of retailers)

charge less than retail

TJ maxx, big lots

warehouse (types of retailers)

costco, sams club

supermarkets (types of retailers)

thousands of products, low margins

fry's, safeway

convenience (types of retailers)

limited lines


nonstore retailing

  • vending machines - $6 billion
  • M-commerce - 346 million
  • internet retailers - $150 billion

retail strategies are...

the decisions to be made regarding the establishment and ongoing operations of a retailer

marketing mix

  • merchandise
  • location
  • price
  • promotion
  • atmosphere
  • service

wholesaling is...

the sorting, storing, and reselling of products to retailers or businesses

wholesaler functions

  • physical distribution
  • product storage
  • simplify payment
  • collect info
  • inject capital
  • technical support

types of wholesalers

  • merchant wholesalers
  • merchandise agent/brokers

merchant wholesalers

*they take ownership (title) of products

full service

  • general merchandise
  • specialty line

limited service

  • cash-and-carry
  • mail order
  • drop shipper
  • truck/rack jobbers

merchandise agent/brokers

  • manufacturer's agents
  • selling agents
  • commission merchants
  • merchandise brokers

manufacturers' branches

  • manufacturer-owned intermediary
  • sales branch
  • sales offices
  • manufacturer's showroom