Mkt 300 Midterm Ch. 3-5

Front 1

world trade

Back 1

flow of goods and services among different countries, value of all the world's imports and exports

Front 2

countertrade

Back 2

type of trade in which goods are paid for with other terms instead of with cash

Front 3

protectionism

Back 3

policy adopted by a government to give domestic companies an advantage

Front 4

import quotas

Back 4

limitations set by a government on the amount of a product allowed to enter or leave a country

Front 5

embargo

Back 5

quote completely prohibiting specified goods from entering or leaving the country

Front 6

tariffs

Back 6

taxes on imported goods

Front 7

economics communities

Back 7

groups of countries that band together to promote trade among themselves and to make it easier to member nations to compete elsewhere

Front 8

competitive intelligence

Back 8

process of gathering and analyzing publicly and available information about rivals

Front 9

discretionary income

Back 9

the portion of the income people have left over after paying for necessities such as housing, utilities, food and clothing

Front 10

product competition

Back 10

when firms offering different products compete to satisfy the same consumer wants or needs

Front 11

brand competiton

Back 11

when firms offering similar goods or services compete on the basis of their brand's reputation or perceived benefits

Front 12

local content rules

Back 12

form of protectionism stipulating that a certain proportion of a product must consist of components supplied by industries in the host country or economic community

Front 13

bribery

Back 13

when someone voluntarily offers payments to get an illegal advantage

Front 14

extortion

Back 14

when someone in authority extracts payment under duress

Front 15

export merchants

Back 15

intermediaries a firm uses to represent it in other countries

Front 16

straight extension strategy

Back 16

product strategy in which a firm offers the same product in both domestic and foreign markets

Front 17

product adaptation strategy

Back 17

product strategy in which a firm offers a similar but modified product in foreign markets

Front 18

product invention strategy

Back 18

product strategy in which a firm develops a new product for foreign markets

Front 19

marketing information system

Back 19

process that first determines what information marketing managers needs and then gathers, sorts, analyzes, stores, and distributes relevant and timely marketing information to system users

Front 20

intranet

Back 20

an internal corporate communication network that uses internet technology to link company departments, employees and databases

Front 21

marketing intelligence system

Back 21

method by which marketers get info about everyday happenings in the marketing environment

Front 22

syndicated research

Back 22

research by firms that collect data on a regular basis and sell the reports to multiple firms

Front 23

custom research

Back 23

research conducted for a single firm to provide specific information its managers need

Front 24

prediction markets

Back 24

approach to forecasting and trend identification that pools opinions from a group of knowledgeable people about a product or service

Front 25

Marketing information system components

Back 25

1. internal company data
2. marketing intelligence
3. marketing research
4. acquired databases

Front 26

Marketing decision support system

Back 26

the data, analysis software, and interactive software that allow managers to conduct analyses and find the information they need

Front 27

data mining

Back 27

sophisticated analysis techniques to take advantage of the massive amount of transaction information now available

Front 28

behavioral targeting

Back 28

practice of using data to track a user's on-line travels in order to show an ad for a product to someone who has visited a related website

Front 29

what marketers can do with data mining

Back 29

1. customer acquisition
2. customer retention and loyalty
3. customer abandonment
4. market basket analysis

Front 30

steps in marketing research process

Back 30

1. define the research problem
2. determine the research design
3. choose the method to collect primary data
4. design the sample
5. collect the data
6. analyze and interpret data
7. prepare the research report

Front 31

steps to defining the research problem

Back 31

1. specify the objectives
2. identify consumer population of interest
3. place the problem in an environmental context

Front 32

research design

Back 32

a plan that specifies what information marketers will collect and what type of study they will do

Front 33

secondary data

Back 33

data that have been collected previously for some other purpose

Front 34

primary data

Back 34

data from research conducted to help make a specific decision

Front 35

exploratory research

Back 35

technique that marketers use to generate insights for future, more rigorous studies

Front 36

projective technique

Back 36

test that marketers use to explore people's underlying feelings about a product

Front 37

case study

Back 37

comprehensive exam of a particular firm or organization

Front 38

ethnography

Back 38

approach to research based on observations of people in their own homes or communities

Front 39

descriptive research

Back 39

tool that probes more systematically into the problem and bases its conclusions on large numbers of observations

Front 40

cross-sectional design

Back 40

type of descriptive technique that involves the systematic collection of quantitative info

Front 41

longitudinal design

Back 41

technique that tracks the responses of the same sample of respondents over time

Front 42

causal research

Back 42

technique that attempts to understand cause and effect relationships

Front 43

involvement

Back 43

relative importance of perceived consequences of the purchase to a consumer

Front 44

perceived risk

Back 44

belief that choice of a product has potentially negative consequences, whether physical, financial or social

Front 45

Decision making steps

Back 45

1. problem recognition
2. info search
3. evaluation of alternatives
4. product choice
5. postpurchase evaluation

Front 46

problem recognition

Back 46

initiates decision making process

Front 47

information search

Back 47

process when a consumer searches for appropriate info to make a reasonable decision

Front 48

behavioral targeting

Back 48

marketing practice by which marketers deliver advertisements for products a consumer is looking for by watching what the consumer does online

Front 49

evaluative criteria

Back 49

dimensions consumers use to compare competing product alternatives

Front 50

heuristics

Back 50

mental rule of thumb that leads to a speedy decision by simplifying the process

Front 51

cognitive dissonance

Back 51

anxiety or regret a consumer may feel after choosing from among several similar attractive choices

Front 52

Internal influences on consumers decisions

Back 52

perception
motivation
learning
attitudes
personality
age
lifestyle

Front 53

perception

Back 53

process by which people select, organize, and interpret info from the outside world by using our sensory receptors
first impression

Front 54

motivation

Back 54

internal state that drives us to satisfy needs by activating goal-oriented behavior

Front 55

hierarchy of needs

Back 55

physiological
safety
belongingness
ego needs
self-actualization
what motivates us to purchase something

Front 56

classical conditioning

Back 56

the learning that occurs when a stimulus eliciting a response is paired with another stimulus that initially does not elicit response on its own but will cause a similar response over time because of its association with the first stimulus

Front 57

operant conditioning

Back 57

learning that occurs as the result of rewards or punishments

Front 58

stimulus generalization

Back 58

behavior caused a reaction to one stimulus occurs in the presence of other similar stimuli

Front 59

cognitive learning theory

Back 59

theory of learning that stresses the importance of internal mental processes and that views people as problem solvers who actively use information from the world around them to master their environment

Front 60

observational learning

Back 60

learning that occurs when people watch the actions of others and note what happens to them as a result

Front 61

attitude

Back 61

learned predisposition to respond favorably or unfavorably to stimuli on the basis of relatively enduring
evaluations of people, objects, and issues
long-term impression

Front 62

affect

Back 62

feeling of component of attitudes, refers to the overall emotional response a person has to a product

Front 63

cognition

Back 63

knowing component of attitudes, refers to the beliefs or knowledge a person has about a product and its important characteristics

Front 64

beahvior

Back 64

the doing of attitudes, involves consumer's intention to do something

Front 65

family life cycle

Back 65

means of characterizing consumers within a family structure on the basis of different stages thru with people pass as they grow older

Front 66

lifestyle

Back 66

pattern of living that determines how people choose to spend their time, money, and energy and that reflects their values, tastes and preferences

Front 67

pyschographics

Back 67

use of psychological, sociological, and anthropological factors to construct market segments

Front 68

Kyoto Protocol

Back 68

global agreement among countries that aims at reducing greenhouse gases that create climate change

Front 69

consumer-to-consumer e-commerce

Back 69

communications and purchases that occur among individuals without directly involving the manufacturer or retailer