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MKTG 301 - Exam #2

Quoc Trung Le Nguyen Business/Economics Englisch 191 Karten

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  1. 1Chapter 3Chapter 3
  2. 2Marketing environmentThe actors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers.
  3. 3MicroenvironmentThe actors close to the company that affect its ability to engage and serve its customers - the company, suppliers, marketing intermediaries, customer markets, competitors, and publics.
  4. 4MacroenvironmentThe larger societal forces that affect the microenvironment - demographic, economic, natural, technological, political, and cultural forces.
  5. 5Marketing intermediariesFirms that help the company to promote, sell and distribute its products to final buyers.
  6. 6PublicAny group that has an actual or potential interest in or impact on an organization's ability to achieve its objectives.
  7. 7DemographyThe study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics.
  8. 8Baby boomersThe 78 million people born during the years following World War II and lasting until 1964.
  9. 9Generation XThe 49 million people born between 1965 and 1976 in the "birth dearth" following the baby boom.
  10. 10Millennials (Generation Y)The 83 million children of the baby boomers born between 1977 and 2000.
  11. 11Generation ZPeople born after 2000 (although many analysts include people born after 1995) who make up the kids, tweens, and teen markets.
  12. 12Economic environmentEconomic factors that affect consumer purchasing power and spending patterns.
  13. 13Natural environmentThe physical environment and the natural resources that are needed as inputs by marketers or that are affected by marketing activities.
  14. 14Environmental sustainabilityDeveloping strategies and practices that create a world economy that the planet can support indefinitely.
  15. 15Technological environmentForces that create new technologies, creating new product and market opportunities.
  16. 16Political environmentLaws, government agencies, and pressure groups that influence or limit various organizations and individuals in a given society.
  17. 17Cultural environmentInstitutions and other forces that affect a society's basic values, perceptions, preferences, and behaviors.
  18. 18Chapter 6Chapter 6
  19. 19Market segmentationDividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors and who might require separate marketing strategies or mixes.
  20. 20Market targeting (targeting)Evaluating each market segment's attractiveness and selecting one or more segments to serve.
  21. 21DifferentiationActually differentiating the market offering to create superior customer value.
  22. 22PositioningArranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.
  23. 23Geographic segmentationDividing a market into different geographical units, such as nations, states, regions, counties, cities, or even neighborhoods.
  24. 24Demographic segmentationDividing the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.
  25. 25Age and life-cycle segmentationDividing a market into different age and life-cycle groups.
  26. 26Gender segmentationDividing a market into different segments based on gender.
  27. 27Income segmentationDividing a market into different income segments.
  28. 28Psychographic segmentationDividing a market into different segments based on social class, lifestyle, or personality characteristics.
  29. 29Behavioral segmentationDividing a market into segments based on consumer knowledge, attitudes, uses of a product, or responses to a product.
  30. 30Occasion segmentationDividing the market into segments according to occasions when buyers get the idea to buy, actually make their purchase, or use the purchased item.
  31. 31Benefit segmentationDividing the market into segments according to the different benefits that consumers seek from the product.
  32. 32Intermarket (cross-market) segmentationForming segments of consumers who have similar needs and buying behaviors even though they are located in different countries.
  33. 33Target marketA set of buyers sharing common needs or characteristics that the company decides to serve.
  34. 34Undifferentiated (mass) marketingA market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer.
  35. 35Differentiated (segmented) marketingA market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each.
  36. 36Concentrated (niche) marketingA market-coverage strategy in which a firm goes after a large share of one or a few segments or niches.
  37. 37MicromarketingTailoring products and marketing programs to the needs and wants of specific individuals and local customer segments; it includes local marketing and individual marketing.
  38. 38Local marketingTailoring brands and marketing to the needs and wants of local customer segments - cities, neighborhoods, and even specific stores.
  39. 39Individual marketingTailoring products and marketing programs to the needs and preferences of individual customers.
  40. 40Product positionHow a product is defined by consumers on important attributes - the place a product occupies in consumers' minds relative to competing products.
  41. 41Competitive advantageAn advantage over competitors gained by offering greater customer value, either by having lower prices or providing more benefits that justify higher prices.
  42. 42Value propositionThe full positioning of a brand - the full mix of benefits on which it is differentiated and positioned.
  43. 43Positioning statementA statement that summarizes company or brand positioning using this form: To (target segment and need) our (brand) is (concept) that (point of difference).
  44. 44Chapter 7Chapter 7
  45. 45ProductAnything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need.
  46. 46ServiceAn activity, benefit, or satisfaction offered for sale that is essentially intangible and does not result in the ownership of anything.
  47. 47Consumer productA product bought by final consumers for personal consumption.
  48. 48Convenience productA consumer product that customers usually buy frequently, immediately, and with minimal comparison and buying effort.
  49. 49Shopping productA consumer product that the customer, in the process of selecting and purchasing, usually compares on such attributes as suitability, quality, price, and style.
  50. 50Specialty productA consumer product with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort.
  51. 51Unsought productA consumer product that the consumer either does not know about or knows about but does not normally consider buying.
  52. 52Industrial productA product bought by individuals and organization for further processing or for use in conducting a business.
  53. 53Social marketingUsing traditional business marketing concepts and tools to create behaviors that will create individual and societal well-being.
  54. 54Product qualityThe characteristics of a product or service that bear on its ability to satisfy stated or implied customer needs.
  55. 55BrandA name, term, sign, symbol, or design or a combination of these that identifies the products or services of one seller or group of sellers and differentiates them from those of competitors.
  56. 56PackagingThe activities of designing and producing the container or wrapper for a product.
  57. 57Product lineA group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlets, or fall within given price ranges.
  58. 58Product mix (product portfolio)The set of all product lines and items that a particular seller offers for sale.
  59. 59Service intangibilityServices cannot be seen, tasted, felt, heard, or smelled before they are bought.
  60. 60Service inseparabilityServices are produced and consumed at the same time and cannot be separated from their providers.
  61. 61Service variabilityThe quality of services may vary greatly depending on who provides them and when, where, and how they are provided.
  62. 62Service perishabilityServices cannot be stored for later sale or use.
  63. 63Service profit chainThe chain that links service firm profits with employee and customer satisfaction.
  64. 64Internal marketingOrienting and motivating customer-contact employees to work as a team to provide customer satisfaction.
  65. 65Interactive marketingTraining service employees in the fine art of interacting with customers to satisfy their needs.
  66. 66Brand equityThe differential effect that knowing the brand name has on customer response to the product and its marketing.
  67. 67Brand valueThe total financial value of a brand.
  68. 68Store brand (private brand)A brand created and owned by a reseller of a product or service.
  69. 69Co-brandingThe practice of using the established brand names of two different companies on the same product.
  70. 70Line extensionExtending an existing brand name to new forms, colors, sizes, ingredients, or flavors of an existing product category.
  71. 71Brand extensionExtending an existing brand name to new product categories.
  72. 72Chapter 8Chapter 8
  73. 73New product developmentThe development of original products, product improvements, product modifications, and new brands through the firm’s own product development efforts.
  74. 74Idea generationThe systematic search for new product ideas.
  75. 75CrowdsourcingInviting broad communities of people – customers, employees, independent scientists and researchers, and even the public at large – into the new product innovation process.
  76. 76Idea screeningScreening new product ideas to spot good ones and drop poor ones as soon as possible.
  77. 77Product conceptA detailed version of the new product idea stated in meaningful consumer terms.
  78. 78Concept testingTesting new product concepts with a group of target consumers to find out if the concepts have strong consumer appeal.
  79. 79Marketing strategy developmentDesigning an initial marketing strategy for a new product based on the product concept.
  80. 80Business analysisA review of the sales, costs, and profit projections for a new product to find out whether these factors satisfy the company’s objectives.
  81. 81Product developmentDeveloping the product concept into a physical product to ensure that the product idea can be turned into a workable market offering.
  82. 82Test marketingThe stage of new product development at which the product and its proposed marketing program are tested in realistic market settings.
  83. 83CommercializationIntroducing a new product into the market.
  84. 84Customer-centered new product developmentNew product development that focuses on finding new ways to solve customer problems and create more customer-satisfying experiences.
  85. 85Team-based new product developmentNew product development in which various company departments work closely together, overlapping the steps in the product development process to save time and increase effectiveness.
  86. 86Product life cycle (PLC)The course of a product’s sales and profits over its lifetime.
  87. 87StyleA basic and distinctive mode of expression.
  88. 88FashionA currently accepted or popular style in a given field.
  89. 89FadA temporary period of unusually high sales driven by consumer enthusiasm and immediate product or brand popularity.
  90. 90Introduction stageThe PLC stage in which a new product is first distributed and made available for purchase.
  91. 91Growth stageThe PLC stage in which a product’s sales start climbing quickly.
  92. 92Maturity stageThe PLC stage in which a product’s sales growth slows or levels off.
  93. 93Decline stageThe PLC stage in which a product’s sales fade away.
  94. 94Chapter 9Chapter 9
  95. 95PriceThe amount charged for a product or service, or the sum of the values that customers exchange for the benefits of having or using the product or service.
  96. 96Customer value-based pricingSetting price based on buyers’ perceptions of value rather than on the seller’s cost.
  97. 97Good-value pricingOffering just the right combination of quality and good service at a fair price.
  98. 98Value-added pricingAttaching value-added features and services to differentiate a company’s offers and charging higher prices.
  99. 99Cost-based pricingSetting prices based on the costs of producing, distributing and selling the product plus a fair rate of return for effort and risk.
  100. 100Fixed costs (overhead)Costs that do not vary with production or sales level.
  101. 101Variable costsCosts that vary directly with the level of production.
  102. 102Total costsThe sum of the fixed and variable costs for any given level of production.
  103. 103Cost-plus pricing (markup pricing)Adding a standard markup to the cost of the product.
  104. 104Break-even pricing (target return pricing)Setting price to break even on the costs of making and marketing a product or setting price to make a target return.
  105. 105Competition-based pricingSetting prices based on competitors’ strategies, prices, costs, and market offerings.
  106. 106Target costingPricing that starts with an ideal selling price, then targets costs that will ensure that the price is met.
  107. 107Demand curveA curve that shows the number of units the market will buy in a given time period at different prices that might be charged.
  108. 108Price elasticityA measure of the sensitivity of demand to changes in price.
  109. 109Market-skimming pricing (price skimming)Setting a high price for a new product to skim maximum revenues layer by layer from the segments willing to pay the high price; the company makes fewer but more profitable sales.
  110. 110Market-penetration pricingSetting a low price for a new product in order to attract a large number of buyers and a large market share.
  111. 111Product line pricingSetting the price steps between various products in a product line based on cost differences between the products, customer evaluations of different features, and competitors’ prices.
  112. 112Optional-product pricingThe pricing of optional or accessory products along with a main product.
  113. 113Captive-product pricingSetting a price for products that must be used along with a main product, such as blades for a razor and games for a video-game console.
  114. 114By-product pricingSetting a price for by-products in order to make the main product’s price more competitive.
  115. 115Product bundle pricingCombining several products and offering the bundle at a reduced price.
  116. 116DiscountA straight reduction in price on purchases during a stated period of time or of larger quantities.
  117. 117AllowancePromotional money paid by manufacturers to retailers in return for an agreement to feature the manufacturer’s products in some way.
  118. 118Segmented pricingSelling a product or service at two or more prices, where the difference in prices is not based on differences in cost.
  119. 119Psychological pricingPricing that considers the psychology of prices and not simply the economics; the price is used to say something about the product.
  120. 120Reference pricesPrices that buyers carry in their minds and refer to when they look at a given product.
  121. 121Promotional pricingTemporarily pricing products below the list price, and sometimes even below cost, to increase short-run sales.
  122. 122Dynamic pricingAdjusting prices continually to meet the characteristics and needs of individual customers and situations.
  123. 123Chapter 10Chapter 10
  124. 124Value delivery networkA network composed of the company, suppliers, distributors, and, ultimately, customers who partner with each other to improve the performance of the entire system in delivering customer value.
  125. 125Marketing channel (distribution channel)A set of interdependent organizations that help make a product or service available for use or consumption by the consumer or business user.
  126. 126Channel levelA layer of intermediaries that performs some work in bringing the product and its ownership closer to the final buyer.
  127. 127Direct marketing channelA marketing channel that has no intermediary levels.
  128. 128Indirect marketing channelA marketing channel containing one or more intermediary levels.
  129. 129Channel conflictDisagreements among marketing channel members on goals, roles, and rewards – who should do what and for what rewards.
  130. 130Conventional distribution channelA channel consisting of one or more independent producers, wholesalers, and retailers, each a separate business seeking to maximize its own profits, perhaps even at the expense of profits for the system as a whole.
  131. 131Vertical marketing system (VMS)A channel structure in which producers, wholesalers, and retailers act as a unified system. One channel member owns the others, has contracts with them, or has so much power that they all cooperate.
  132. 132Corporate VMSA vertical marketing system that combines successive stages of production and distribution under single ownership – channel leadership is established through common ownership.
  133. 133Contractual VMSA vertical marketing system in which independent firms at different levels of production and distribution join together through contracts.
  134. 134Franchise organizationA contractual vertical marketing system in which a channel member, called a franchisor, links several stages in the production-distribution process.
  135. 135Administered VMSA vertical marketing system that coordinates successive stages of production and distribution through the size and power of one of the parties.
  136. 136Horizontal marketing systemA channel arrangement in which two or more companies at one level join together to follow a new marketing opportunity.
  137. 137Multichannel distribution systemA distribution system in which a single firm sets up two or more marketing channels to reach one or more customer segments.
  138. 138DisintermediationThe cutting out of marketing channel intermediaries by product or service producers or the displacement of traditional resellers by radical new types of intermediaries.
  139. 139Marketing channel designDesigning effective marketing channels by analyzing customer needs, setting channel objectives, identifying major channel alternatives, and evaluating those alternatives.
  140. 140Intensive distributionStocking the product in as many outlets as possible.
  141. 141Exclusive distributionGiving a limited number of dealers the exclusive right to distribute the company’s products in their territories.
  142. 142Selective distributionThe use of more than one but fewer than all of the intermediaries that are willing to carry the company’s products.
  143. 143Marketing channel managementSelecting, managing, and motivating individual channel members and evaluating their performance over time.
  144. 144Marketing logistics (physical distribution)Planning, implementing, and controlling the physical flow of goods, services, and related information from points of origin to points of consumption to meet customer requirements at a profit.
  145. 145Supply chain managementManaging upstream and downstream value-added flows of materials, final goods, and related information among suppliers, the company, resellers, and final consumers.
  146. 146Distribution centerA large, highly automated warehouse designed to receive goods from various plants and suppliers, take orders, fill them efficiently, and deliver goods to customers as quickly as possible.
  147. 147Multimodal transportationCombining two or more modes of transportation.
  148. 148Integrated logistics managementThe logistics concept that emphasizes teamwork – both inside the company and among all the marketing channel organizations – to maximize the performance of the entire distribution system.
  149. 149Third-party logistics (3PL) providerAn independent logistics provider that performs any or all of the functions required to get a client’s product to market.
  150. 150Chapter 12Chapter 12
  151. 151Promotion mix (marketing communications mix)The specific blend of promotion tools that the company uses to engage customers, persuasively communicate customer value, and build customer relationships.
  152. 152AdvertisingAny paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor.
  153. 153Sales promotionShort-term incentives to encourage the purchase or sale of a product or a service.
  154. 154Personal sellingPersonal customer interactions by the firm’s sales force for the purpose of engaging customers, making sales, and building customer relationships.
  155. 155Public relations (PR)Building good relations with the company’s various publics by obtaining favorable publicity, building up a good corporate image, and handling or heading off unfavorable rumors, stories, and events.
  156. 156Direct and digital marketingEngaging directly with carefully targeted individual consumers and customer communities to both obtain and immediate response and build lasting customer relationships.
  157. 157Content marketingCreating, inspiring, and sharing brand messages and conversations with and among consumers across a fluid mix of paid, owned, earned, and shared channels.
  158. 158Integrated marketing communications (IMC)Carefully integrating and coordinating the company’s many communications channels to deliver a clear, consistent, and compelling message about the organization and its brands.
  159. 159Push strategyA promotion strategy that calls for using the sales force and trade promotion to push the product through channels. The producer promotes the product to channel members who in turn promote it to final consumers.
  160. 160Pull strategyA promotion strategy that calls for spending a lot on consumer advertising and promotion to induce final consumers to buy the product, creating a demand vacuum that “pulls” the product through the channel.
  161. 161Advertising objectiveA specific communication task to be accomplished with a specific target audience during a specific period of time.
  162. 162Advertising budgetThe dollars and other resources allocated to a product or a company advertising program.
  163. 163Affordable methodSetting the promotion budget at the level management thinks the company can afford.
  164. 164Percentage-of-sales methodSetting the promotion budget at a certain percentage of current or forecasted sales or as a percentage of the unit sales price.
  165. 165Competitive-parity methodSetting the promotion budget to match competitors’ outlays.
  166. 166Objective-and-task methodDeveloping the promotion budget by 1) defining specific promotion objectives, 2) determining the tasks needed to achieve these objectives, and 3) estimating the costs of performing these tasks. The sum of these costs is the proposed promotion budget.
  167. 167Advertising strategyThe strategy by which the company accomplishes its advertising objectives. It consists of two major elements: creating advertising messages and selecting advertising media.
  168. 168Madison & VineA term that has come to represent the merging of advertising and entertainment in an effort to break through the clutter and create new avenues for reaching customers with more engaging messages.
  169. 169Creative conceptThe compelling “big idea” that will bring an advertising message strategy to life in a distinctive and memorable way.
  170. 170Execution styleThe approach, style, tone, words, and format used for presenting an advertising message.
  171. 171Advertising mediaThe vehicles through which advertising messages are delivered to their intended audiences.
  172. 172Return on advertising investmentThe net return on advertising investment divided by the cost of the advertising investment.
  173. 173Advertising agencyA marketing services firm that assists companies in planning, preparing, implementing, and evaluating all or portions of their advertising programs.
  174. 174Chapter 14Chapter 14
  175. 175Direct and digital marketingEngaging directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer relationships.
  176. 176Digital and social media marketingUsing digital marketing tools such as Web sites, social media, mobile apps and ads, online video, email, and blogs to engage consumers anywhere, anytime via their digital devices.
  177. 177Omni-channel retailingCreating a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping.
  178. 178Online marketingMarketing via the Internet using company Web sites, online ads and promotions, email, online video and blogs.
  179. 179Marketing Web siteA Web site that engages consumers to move them closer to a direct purchase or other marketing outcome.
  180. 180Branded community Web siteA Web site that presents brand content that engages consumers and creates customer community around a brand.
  181. 181Online advertisingAdvertising that appears while consumers are browsing online, including display ads and search-related ads.
  182. 182Email marketingSending highly targeted, tightly personalized, relationship-building marketing messages via email.
  183. 183SpamUnsolicited, unwanted commercial email messages.
  184. 184Viral marketingThe digital version of word-of-mouth marketing: videos, ads, and other marketing content that is so infectious that customers will seek it out or pass it along to friends.
  185. 185BlogsOnline forums where people and companies post their thoughts and other content, usually related to narrowly defined topics.
  186. 186Social mediaIndependent and commercial online social networks where people congregate to socialize and share messages, opinions, pictures, videos, and other content.
  187. 187Mobile marketingMarketing messages, promotions, and other marketing content delivered to on-the-go consumers through mobile phones, smartphones, tablets, and other mobile devices.
  188. 188Direct-mail marketingMarketing that occurs by sending an offer, announcement, reminder, or other item directly to a person at a particular address.
  189. 189Catalog marketingDirect marketing through print, video, or digital catalogs that are mailed to select customers, made available in stores, or presented online.
  190. 190TelemarketingUsing the telephone to sell directly to customers.
  191. 191Direct-response television (DRTV) marketingDirect marketing via television, including direct-response television advertising (or infomercials) and interactive television (iTV) advertising.

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