Marketing Test 2 Chapters 7-11
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31 terms
Terms | Definitions |
|---|---|
 market research | procedures to develop and analyze new information to help marketing managers make decisions |
| market research process | 1. Defining the problem 2. Analyze the situation 3. Getting problem-specific data 4. Interpreting the problem 5. Solving the problem |
| MIS (marketing information system) | an organized way of continually gathering, accessing and analyzing information that marketing managers need to make ongoing decisions |
| scientific method | a decision-making approach that focuses on being objective and orderly in testing ideas before accepting them |
| focus groups | A group interview technique that obtains data through discussion between research participants in a group setting. |
| product assortment | the set of all product lines and individual products that a firm sells |
| product line | a set of individual products that are closely related |
| example of product assortment | Sara Lee: beverages, luncheon meats, desserts, insecticides, body care, air care and shoe care. |
| brand name | A word, letter, or group of words or letters that differentiates one seller's goods and services from those of competitors |
| trademark | a name, symbol, or other device identifying a product; it is officialy registered with the U.S. government and its use is legally restricted to its owner |
| product life cycle | Four stages that product goes through over its life: introduction, growth, maturity, and decline. |
| fashion | currently accepted or popular style |
| channel of distribution | any series of firms or individuals who participate in the flow of products from producer to final user or consumer |
| place | making goods and services available in the right quantities and locations, when customers want them. |
| direct marketing | direct communication between a seller and an individual customer using a promotion method other than face-to-face personal selling |
| discrepancy of quantity | the difference between the quantity of products it is economical for a producer to make and the quantity final users or consumers normally want |
| logistics | transporting, storing, and handling of goods in ways that match target customers' needs with a firm's marketing mix -- both within individual firms and along a channel of distribution |
| customer service level | how rapidly and dependably a firm can deliver what they, the customers, want |
| total cost approach | evaluating each possible PD system and identifying all of the costs of each alternative |
| JIT delivery | reliably getting products there just before the customer needs them |
| retailing | all the activities involved in the sale of products to final consumers |
| specialty shop | a type of conventional limited-line store - usually small and with a distinct personality |
| market research process | A five-step application of the scientific method that includes (1) defining the problem, (2) analyzing the situation, (3) getting problem-specific data, (4) interpreting the data, (5) solving the problem |
| Product Life Cycle stages | 1. introduction 2. growth 3. maturity 4. decline |
| Entering International Markets | 1. Exporting 2. Licensing 3. Management Contracting 4. Joint Venture 5. Direct Investment |
| 5 Basic Transportation Modes | 1. Truck 2. Rail 3. Water 4. Air 5. Pipeline |
| Consumer Product Classes | 1. Convenience 2. Shopping 3. Specialty 4. unsought |
| Business Product Classes | 1. Installations 2. Accessories 3. Raw Materials 4. Components 5. Supplies 6. Professional Services |
| 5 Levels of Brand Acceptance | 1. Brand Rejection 2. Brand Nonrecognition 3. Brand Recognition 4. Brand Preference 5. Brand Insistence |
| Primary Data | Data collected directly by the firm wanting the data |
| Secondary Data | Data collected from an outside resource |
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