Card Set Information

2011-11-08 21:00:00
Marketing 12 15

Definition and Concepts
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  1. Decision Support System
    an interactive, flexible, discovery oriented, and accessible computerized information system that enables mangers to obtain and manipulate information as they are making decisions; allow "what if" questions
  2. Database Marketing
    the creation of a large computerized file of customers' and potential customers' profiles and purchasing patterns
  3. Marketing Information
    everyday information about developments in the marketing environment that managers use to prepareand adjust marketing plans
  4. Marketing Research
    the process of planning, collecting and analyzing data relevant to a marketing decision
  5. Marketing Problem
    determining what information is needed and how that information can be obtained efficiently and effectively
  6. Marketing Research Objective
    the specific information needed to solve a marketing research problem; the objective should be to provide insightful decision-making information
  7. Management Decision Problem
    a broad-based problem that uses marketing research in order for managers to take proper actions
  8. Research Design
    specifies which questions must be answered, how and when to gather data, and how the data will be analyzed
  9. Survey Research
    the most popular technique for gathering primary data, in which a researcher interacts with people to obtain facts, opinions and attitudes
  10. Executive Interview
    a type of survey that involves interviewing business people at their offices concerning industrial products or services
  11. Probability Sample
    a sample in which every element in the population has a known statistical likelihood of being selected
  12. Random Sample
    a sample arranged in such a wat that every element of the population has an equal chance of being selected as part of the sample
  13. Nonprobability Sample
    any sample in which little or no attempt is made to get a representation cross section of the population
  14. Measurement Error
    an error that occurs when there is a difference between the information desired by the researcher and the information provided by the measurement process
  15. Sampling Error
    an error that occurs when a sample somehow does not represent the target population
  16. Frame Error
    an error that occurs when a sample drawn from a population differs from the target population
  17. Random Error
    an error that occurs when the selected sample is an imperfect representation of the overall population
  18. Field Serivce Firm
    a firm that specializes in interviewing respondents on a subcontracted basis
  19. Cross-Tabulation
    a method of analyzing data that lets the analyst look at the responses to one question in relation to the responses to one or more other questions
  20. Scanner-Based Research
    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
  21. BehaviorScan
    a scanner-based research program that tracks the purchases of 3,000 housseholds through store scanners in each research market
  22. InfoScan
    a scanner-based sales-tracking service for the consumer packaged-goods industry
  23. Competitive Intelligence (CI)
    an intelligence system that helps mangagers assess their competition and vendors in order to become more efficient and effective competitors
  24. New-Product Strategy
    a plan that links the new-product development process with the objectives of the marketing department, the business unit and the corporation
  25. Product Development
    a marketing strategy that entails the creation of marketable new products; the process of converting applications for new technologies into marketable products
  26. Brainstorming
    the process of getting a group to think of unlimited ways to vary a product or solve a problem
  27. Sreening
    the first filter in the product development process, which eliminates ideas that are inconsistent with the organization's new-product strategy or are obviously inappropriate for some other reason
  28. Concept Test
    a test to evaluate a new-product idea, usually before any prototype has been created
  29. Business Analysis
    the second stage of the screening process where preliminary figures for demand, cost, sales and profitability are calculated
  30. Development
    a prototype is developed and a marketing strategy is outlined
  31. Simultaneous Product Development
    a team-oriented approach to new-product development
  32. Test Marketing
    the limited introduction of a product and a marketing program to determine the reactions of potential customers in a market situation
  33. Simulated (Laboratory) Market Testing
    advertsing and promoting of several products, including a test product, to members of the product's target market
  34. Commercialization
    the decision to market a product
  35. Innocation
    a product perceived as new by a potential adopter
  36. Diffusion
    the process by which the adoption of an innocation spreads
  37. Product Life Cycle
    a concept that provides a way to trace the stages of a product's acceptance, from its introduction (birth) to its decline (death)
  38. Product Cateogory
    all brands that satisfy a particular type of need
  39. Introductory Stage
    the full-scale launch of a new product into the marketplace
  40. Growth Stage
    the second stage of the product life cycle when sales typically grow at an increasing rate, many competitors enter the market, large companies may start acquiring small pioneering firms, and profits are healthy
  41. Maturity Stage
    a period duing which sales increase at a decreasing rate
  42. Decline Stage
    a long-run drop in sales
  43. Service
    the result of applying human or mechanical efforts to people or objects
  44. Intangibility
    the inability of services to be touched, seen, tasted, heard, or felt in the same manner that goods can be sensed
  45. Search Quality
    a characteristics that can be easily assessed before purchase
  46. Experience Quality
    a characteristic that can be assessed only after use
  47. Credence Quality
    a characterisitc that consumers may have difficulty assessing even after purchase because they do not have the necessary knowledge or experience
  48. Inseparability
    the inability of the production and consumption of a service to be separated; consumers must be present during the production
  49. Heterogeneity
    the variability of the inputs and outputs of service, which causes services to tend to be less standardized and uniform than goods
  50. Perishability
    the inability of services to be stored, warehoused or inventoried
  51. Reliability
    the ability to perform a service dependably, accurately and consistenly
  52. Responsiveness
    the ability to provide prompt service
  53. Assurance
    the knowledge and courtesy of employees and their ability to convey trust
  54. Empathy
    caring, individualized attention to customers
  55. Tangibles
    the physical evidence of a service, including the physical facilities, tools and equipment used to provide the service
  56. Gap Model
    • five gaps that can cause problems inservice delivery and influence customer evaluations or service quality:
    • 1. Customer expectations vs. Manager's perception of customer wants
    • 2. Manager's perception of customer wants vs. Specifications for service quality
    • 3. Specifications for service quality vs. Delivery of the service
    • 4. Delivery of the service vs. What the company promises
    • 5. Customer service expectations vs. perceptions of service performance
  57. Core Service
    the most basic benefit the consumer is buying
  58. Supplementary Services
    a group of services that support or enhance the core service
  59. Mass Customization
    a strategy that uses technology to deliver customized services on a mass basis
  60. Internal Marketing
    treating employees as customers and developing systems and benefits that satisfy their needs
  61. Nonprofit Organization
    an organization that exists to achieve some goal other than the usual business goals of profit, market share, or return on investment
  62. Nonprofit Organzation Marketing
    the effort by nonprofit organizations to bring about mutually satisfying exchanges with target markets
  63. Public Service Advertisement (PSA)
    an announcement that promotes a program of a federal, state or local government or of a nonprofit organization
  64. Retailing
    all the activities directly related to the sales of goods and services to the ultimate consumer for personal, nonbusiness use
  65. Independent Retailers
    retailers owned by a single person or partnershop and not operated as part of a larger retail insistution
  66. Chain Stores
    stores owened and operated by a single organization
  67. Franchise
    the right to operate a business or to sell a product
  68. Gross Margin
    the amount of money the retailer makes as a percentage of sales after the cost of goods sold is subtracted
  69. Department Store
    a store housing several departments under one roof
  70. Buyer
    a department head who selects the merchandise for his or her department and may also be responsible for promotion and personnel
  71. Specialty Store
    a retail store specializing in a given type of merchandise
  72. Supermarket
    a large, departmentalized, self-service retailer that specializes in food and some nonfood items
  73. Scrambled Merchandising
    the tendency to offer a wide variety of nontraditional goods and services under one roof
  74. Drugstore
    a retail store that stocks pharmacy-related products and services as its main draw
  75. Convenience Store
    a miniature supermarket, carrying only a limited line of high-turnover convenience goods
  76. Discount Store
    a retailer that competes on the basis of low prices, high turnovers and high volume
  77. Full-Line Discount Store
    a retailer that offers consuers very limited service and carries a broad assortment of well-known, nationally branded "hard goods"
  78. Mass Merchandising
    a retailing strategy using moderate to low prices on large quantities of merchandise and lower levels of service to stimulate high turnover of products
  79. Supercenter
    a retail store that combines groceries and general merchandise goods with a wide range of services
  80. Specialty Discount Store
    a retail store that offers nearly complete selection of single-line merchandise and sued self-serivce, discount prices, high volume, and high turnover
  81. Category Killers
    specialty discount stores that heavily dominate their narrow merchandise segment
  82. Warehouse Membership Clubs
    limited-servie merchant wholesalers that sell a limited selection of brand-name appliances, household items, and groceries on a cash-and-carry basis to members, usually small business and groups
  83. Off-Price Retailer
    a retailer that sells at prices 25 percent or more below traditional department store prices because it pays cash for its stock and usually doesn't ask for return privileges
  84. Factory Outlet
    an off-price retailer that is owned and operated by a manufacturer
  85. Nonstore Retailing
    shopping without visiting a store
  86. Automatic Vending
    the use of machines to offer goods for sale
  87. Direct Retailing
    the selling of products by representatives who work door-to-door, office-to-office, or at home sales parties
  88. Direct Marketing
    techniques used to get consumers to make a purchase from their home, office, or another nonretail setting
  89. Franchisor
    the originator of a trade name, product, methods of operation, and so on that grants operating rights to another party to sell its product
  90. Franchisee
    an individual or business that is granted the right to sell another party's product
  91. Retailing Mix
    product, place, promotion, price, presentation, personnel
  92. Product Offering
    the mix of products offered to the consumer by the retailer; also called the product assortmentor merchandise mix
  93. Destination Stores
    stores that consumers purposely plan to visit
  94. Atmosphere
    the overall impression conveyed by a store's physical layout, decor and surroundings