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40 terms

Marketing Management Final Exam

STUDY
PLAY
Activities, Interests, and Opinions
A measurable series of psychographic variables involving the interests and beliefs of users
Adopter Categories
Persons or agencies that adopt an innovation are often classified into five groups according to the sequence of their adoption of it
Advertising
The placement and purchase of announcements and persuasive messages in time or space in any of the mass media by business firms, nonprofit organizations
Aging
The length of time merchandise has been in stock
All-You-Can-Afford-Budgeting
An approach to the advertising budget that establishes the amount to be spent on advertising as the funds remaining after all other necessary expenditures and investments are covered
Ambiance
An overall feeling or mood projected by a store through its aesthetic appeal to human senses
Analysis
A variety of statistical and non statistical methods are used to break down data, instead of sheer intuition
Attitudes
Enduring systems of positive or negative evaluations, emotional feelings, and action tendencies with respect to an object
Atmospherics
The physical characteristics such as architecture, layout, signs and displays, color, lighting, temperature, access, noise, assortment, prices, special events that serve as stimuli
Audience
The number and or characteristics of the persons or households who are exposed to a particular type of advertising media or media vehicle
Audit
The process of reviewing the stores strengths and weaknesses and opportunities and threats to shed light on performance
Acculturation
The process by which people in one culture or subculture learn to understand and adopt to the norms, values, life styles and behaviors of people in another culture or subculture
Acquisition Value
The users perception of the relative worth of a product or service to them
Brand
A name, term, design, symbol, or any other feature that identifies one sellers good or service as distinct from those of other sellers
Budget
A budget assigns a dollar figure to each revenue and expense related activity
Balanced Stock
The composition of merchandise inventory in the colors, sizes, styles and other assortment characteristics that will satisfy users wants
Barcode
An information technology application that uniquely identifies various aspects of product characteristics, increasing speed, accuracy, and productivity of distribution process
Benefit Segmentation
The process of grouping users into market segments on the basis of the desirable consequences sought from the product
Body Language
The nonverbal signals communicated in interactions thought facial expressions, arms, legs and hands or nonverbal communication
Chanel of Distribution
An organized network of agencies and institutions which in combination perform all the functions required to link producers with end customers
Consumer
The ultimate user of goods, ideas or services. Also the buyer or decision maker.
Consumer Behavior
The behavior of the consumer or decision maker in the market lace of products or services
Consumer Characteristics
The demographic, lifestyle and personality characteristics of the consumer
Consumer Satisfaction
The degree to which a consumers expectations are fulfilled or surpassed by a product
Circulation
The number of copies of a print advertising medium that distributed
Classic Merchandise
The merchandise that is not influenced by style changes for which a demand virtually exists
Clustering
A statistical method of forming natural groupings in which a number of important characteristics of a large diverse group is identified in order to define target market
Community Analysis
This is a market research exercise reviewing statistics, population served characteristics, users to better profile the market area
Community Relations
The interactions with the locality in which it operates, with emphasis on disseminating related information to foster trust in the business
Competition
The rivalry among sellers trying to achieve such goals as increasing profits, market share and sales volume by varying the elements of the marketing mix
Copyright
A copyright offers the owner of original work that can be printed, recorded or fixed in any manner the sole right to reproduce and distribute the work, to display or perform it and to authorize others to do so
Core Product
The central benefit or purpose for which a consumer buys a product or service
Culture
The set of learned values, norms, and behaviors that are shared by a society and are designed to increase the probability of the societies survival
Census
A complete canvass of a population
Census Block
Usually a well defined rectangular area bounded by streets and roads. It may be irregular in shape and may be bounded by physical features.
Census Tract
A small relatively permanent area into which metropolitan statical areas are divided for the purpose of providing statistics for small areas between 2500 and 8000 residents
Chain Store System
A group of retail stores of essentially the same type, centrally owned and with some degree of centralized control of operation
Contingency Planning
Developing plans to provide alternative plans to the main plan. This is proactive management that deals with events considered unlikely to occur
Convenience Product
A consumer good and or service that is bought frequently, often on impulse, with little time effort spent on the buying process, usually is low priced and is widely available
Convenience Sample
A non-probablility sample of individuals who just happen to be where the study is being conducted when it is being conducted