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45 Cards in this Set
- Front
- Back
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Marketing Information
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-Everyday information about developments in the marketing environment that managers use to prepare and adjust marketing plans
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Decision Support System (DSS)
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-An interactive, flexible computerized information system that enables managers to obtain and manipulate information as they are making decisions
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Database Marketing
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-The creation of a large computerized file of customers' and potential customers' profiles and purchase patterns
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Marketing Research
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-The process of planning, collecting, and analyzing data relevant to a marketing decision
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1)Identify & Formulate the problem/opportunity
2)Plan the research design and gather primary data 3)Specify the sampling procedures 4)Collect the data 5)Analyze the data 6)Prepare and present the report 7)Follow up |
The Marketing Research Process (7 Steps)
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Secondary Data
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-Data previously collected for any purpose other than the one at hand
(Ex: annual reports, reports to stockholders, product testing results, etc.) |
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Marketing Research Aggregators
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-A company that acquires, catalogs, reformats, segments, and resells reports already published by marketing research firms
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Research Design
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-Specifies which research questions must be answered, how and when the data will be gathered, and how the data will be analyzed
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Primary Data
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-Information collected for the 1st time that is used for solving the particular problem under investigation
-Answers a specific research question that Secondary Data cannot answer -Expensive to gather |
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-In-Home personal interviews
-Mall Intercept interviews -Telephone Interviews -Mail surveys -Executive Interviews -Focus Groups |
Primary Data is collected through:
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1)Open-Ended questions
2)Closed-ended questions 3)Scaled-response questions |
3 Types of Questionnaires
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Ethnographic Research
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-The study of human behavior in its natural context, involves observation of behavior and physical setting
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-Probability Samples (random samples)
-Nonprobability Samples (convenience sample) |
Types of Samples
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-Rapid development, real-time reporting
-Dramatically reduced costs -Personalized questions and data -Improved respondent participation -Contact with the hard-to-reach |
Advantages of Internet Surveys
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Scanner-based research
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-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
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What is a Product?
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-Everything, both favorable and unfavorable, that a person receives in an exchange
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Business Product
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-Used to manufacture other goods or services, to facilitate an organization's operations, or to resell to other customers
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Consumer Product
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-Is bought to satisfy an individual's personal wants
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Convenience Product
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-A relatively inexpensive item that merits little shopping effort
(ex: candy, soft drinks, aspirin, car wash) |
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Shopping Product
(2 kinds) |
-A product that requires comparison shopping because it is usually more expensive than a convenience product and is found in fewer stores
-2 kinds: 1)Homogeneous: similar products (ex:washers, dryers, fridges, tv's) 2)Heterogeneous: different products (ex:furniture, clothing, housing, and universities) |
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Specialty Product
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-A particular item that consumers search extensively for and are very reluctant to accept substitutes
(ex:Omega watches, Rolls-Royce car, Bose speakers) |
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Unsought Product
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-A product unknown to the potential buyer or a known product that the buyer does not actively seek
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Product Item
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-A specific version of a product that can be designated as a distinct offering among an organization's products
(ex: Campbell's Cream of chicken soup) |
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Product Line
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-A group of closely related product items
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Product Mix
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-All products that an organization offers
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Product Mix width
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-the number of product lines an organization offers
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Product line depth
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-the number of product items in a product line
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-Advertising economies
-Package uniformity -Standardized components -Efficient sales and distribution -Equivalent quality |
Benefits of Product lines
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Planned Obsolescence
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-the practice of modifying products so those that have already been sold become obsolete before they actually need replacement
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1)Product Identification
2)Repeat sales 3)New-product sales |
3 Purposes of Branding
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Individual Branding
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-using different brand names for different products
(Ex: Procter & Gamble has 10 different brands of laundry detergent for different segments of the laundry detergent market) |
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Family Branding
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-Marketing several different products under the same brand name
(Ex: Sony's family brand includes radios, tv sets, stereos, etc.) |
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-Placing 2 or more brand names on a product or its package
-3 types: 1)Ingredient branding 2)Cooperative branding 3)Complimentary branding |
Cobranding
(3 types) |
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Trademark
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-the exclusive right to use a brand or part of a brand
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Service mark
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-A trademark for a service
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New-Product Development process (7 Steps)
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1) New-product strategy
2) Idea Generation 3) Idea Screening 4) Business Analysis 5) Development 6) Test Marketing 7) Commercialization |
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New-Product Strategy
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-A plan that links the new-product development process with the objectives of the marketing department, the business unit, and the corporation
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Simultaneous Product development
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-A team-oriented approach to new-product development between R&D, marketing, engineering, production, and suppliers.
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Test Marketing
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-The limited introduction or a product and a marketing program to determine the reactions of potential customers in a market situation
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Simulated (laboratory) Market Testing
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-the presentation of advertising and other promotional materials for several products, including a test product, to members of the product's target market
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Diffusion
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-the process by which the adoption of an innovation spreads
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1) Introductory stage
2) Growth stage 3) Maturity stage 4) Decline stage |
Product Life Cycle
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Service
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-the result of applying human or mechanical efforts to people or objects
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1) Intangibility
2) Inseparability 3) Heterogeneity 4) Perishability |
4 unique characteristics that separate goods from services
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-A model identifying 5 gaps that can cause problems in service delivery and influence customer evaluations of service quality
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Gap model (5 gaps)
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