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Study sets matching "marketing chapter 8"

26 terms
Marketing Chapter 8 Vocabulary
80/20 principle
Benefit Segmentation
Cannibalization
Concentrated Targeting Strategy
A principle holding that 20 percent of all customers generate…
The process of grouping customers into market segments accord…
A situation that occurs when sales of a new product cut into…
A strategy used to select one segment of a market for targeti…
80/20 principle
A principle holding that 20 percent of all customers generate…
Benefit Segmentation
The process of grouping customers into market segments accord…
60 terms
Marketing Chapter 8
The new product development process us…
Which of the following statements is m…
Which of the following is an internal…
Internal sources of new product ideas…
idea generation
Customers, competitors, and suppliers are major sources of ne…
intrapreneurial programs
employees
The new product development process us…
idea generation
Which of the following statements is m…
Customers, competitors, and suppliers are major sources of ne…
9 terms
Chapter 8 Marketing Dynamics
Competition
demand
law of demand
law of supply
Contest between two or more businesses to get customers.
Quantity of a specific product that a buyer is able and willi…
When prices fall, demand will rise (in a constant environment)
When prices are high, supply will rise (in a constant environ…
Competition
Contest between two or more businesses to get customers.
demand
Quantity of a specific product that a buyer is able and willi…
10 terms
Marketing Chapter 8
Market Segmentation
Segment Efficiently
Market Targeting
Target Market
1 Geographic ... 2 Demographic ... 3 Psychographic - Wealth ... 4 Beha…
1 measurable ... 2 accessible ... 3 substantial ... 4 differentiable…
Evaluating for profitability, growth, corporate objectives
1 Undifferentiated marketing -sugar ... 2 differentiated marketi…
Market Segmentation
1 Geographic ... 2 Demographic ... 3 Psychographic - Wealth ... 4 Beha…
Segment Efficiently
1 measurable ... 2 accessible ... 3 substantial ... 4 differentiable…
25 terms
Marketing Chapter 8
New Product development
Idea generation
Crowdsourcing
Idea screening
The development of original products, product improvements, p…
The systematic search for new product ideas
Inviting broad communities of people - customers, employees,…
Screening new product ideas to spot good ones and drop poor o…
New Product development
The development of original products, product improvements, p…
Idea generation
The systematic search for new product ideas
25 terms
Marketing Chapter 8
Actual product
Core product
Augmented Product
Attributes
Which of the following refers to the second layer of the prod…
Which the following refers to all the benefits the product wi…
Which of the following product layers might include a​ warran…
Which of the following terms refers to​ features, functions,​…
Actual product
Which of the following refers to the second layer of the prod…
Core product
Which the following refers to all the benefits the product wi…
60 terms
International Marketing Chapter 8
Cross-Cultural Communications
Marketing Research
International Marketing Research invol…
Foreign Market Research is broader in…
compares the communication styles and patterns of people from…
the systematic gathering, recording, and analyzing of data to…
1) Information must be communicated across cultural boundarie…
This is because of the higher levels of uncertainty in the fo…
Cross-Cultural Communications
compares the communication styles and patterns of people from…
Marketing Research
the systematic gathering, recording, and analyzing of data to…
42 terms
Chapter 8 Marketing
New Product Development
The Challenge of New Product Development
The Challenge of Product Life-Cycle St…
Acquisition
The development of original products, product improvements, p…
because all products eventually decline, a firm must be good…
a firm must be good at adapting its marketing strategies in t…
buying a whole company, a patent, or a license to produce som…
New Product Development
The development of original products, product improvements, p…
The Challenge of New Product Development
because all products eventually decline, a firm must be good…
26 terms
Marketing Chapter 8
market
market segment
market segmentation
segmentation bases
people or organizations with needs or wants and the ability a…
a subgroup of people or organizations sharing one or more cha…
the process of dividing a market into meaningful, relatively…
characteristics of individuals, groups, or organizations
market
people or organizations with needs or wants and the ability a…
market segment
a subgroup of people or organizations sharing one or more cha…
50 terms
Marketing Chapter 8
Good
Attributes
Core Product
Actual Product
A tangible product that we can see, touch, smell, hear, or ta…
The packaging, brand name, benefits, and supporting features…
All the benefits the product will provide for consumers or bu…
The physical good or the delivered service that supplies the…
Good
A tangible product that we can see, touch, smell, hear, or ta…
Attributes
The packaging, brand name, benefits, and supporting features…
Chapter 8 Marketing
What are the 5 areas for segmenting co…
Geographic Segmentation
Demographic Segmentation
Psychographic Segmentation
1. Geography... 2. Demographics... 3. Psychographics... 4. Benefits... 5.…
-Segmenting markets by region of the country or world, market…
-Segmenting markets by age, gender, income, ethnic background…
-Market segmentation on the basis of personality, motives, li…
What are the 5 areas for segmenting co…
1. Geography... 2. Demographics... 3. Psychographics... 4. Benefits... 5.…
Geographic Segmentation
-Segmenting markets by region of the country or world, market…
41 terms
Marketing - Chapter 8
What is the new product development st…
What is required to create successful…
What external sources do companies use…
What are the major stages in new produ…
Developing new products through the firms own research and de…
Understanding consumers, markets, and competitors. Developing…
Competitors offerings, ideas from distributors and suppliers,…
Idea generation, idea screening, concept development and test…
What is the new product development st…
Developing new products through the firms own research and de…
What is required to create successful…
Understanding consumers, markets, and competitors. Developing…
48 terms
Marketing Chapter 8
Product
Quality
Product assortment
Product line
A good, service, or idea consisting of a bundle of tangible a…
A product's ability to satisfy a customer's needs or requirem…
The set of all product lines and individual products that a f…
A group of closely related products manufactured or sold by a…
Product
A good, service, or idea consisting of a bundle of tangible a…
Quality
A product's ability to satisfy a customer's needs or requirem…
23 terms
Marketing 120 - Chapter 8
direct investment
duty
exchange control
exchange rate
When a firm maintains 100 percent ownership of its plants, op…
See tariff.
Refers to the regulation of a country's currency exchange rate.
The measure of how much one currency is worth in relation to…
direct investment
When a firm maintains 100 percent ownership of its plants, op…
duty
See tariff.
28 terms
Marketing Chapter 8
New product development
Idea generation
Major strategies in new product develo…
Crowdsourcing
The development of original products, product improvements, p…
the systematic search for new product ideas
Idea generation->Idea screening->Concept development and test…
Inviting broad communities of people—customers, employees, in…
New product development
The development of original products, product improvements, p…
Idea generation
the systematic search for new product ideas
25 terms
Marketing Chapter 8
New product development
Idea generation
Crowdsourcing
Idea screening
The development of original products, product improvement, pr…
the systematic search for new product ideas
Inviting broad communities of people—customers, employees, in…
Screening new product ideas to spot good ones and drop poor o…
New product development
The development of original products, product improvement, pr…
Idea generation
the systematic search for new product ideas
21 terms
Marketing Vocab Chapter 8
New product development
Idea generation
Crowdsourcing
Idea screening
The development of original products, product improvements, p…
The systematic search for new product ideas
Inviting broad communities of people--customers, employees, i…
Screening new product ideas to spot good ones and drop poor o…
New product development
The development of original products, product improvements, p…
Idea generation
The systematic search for new product ideas
30 terms
Marketing Chapter 8
Marketing Channel
Channel Members
Intermediaries
Supply Chain
group of organizations involved in selling and promoting good…
firms a company partners with to actively promote and sell a…
third party that facilitate the supple and sale of products f…
all organizations that participate in the production, promoti…
Marketing Channel
group of organizations involved in selling and promoting good…
Channel Members
firms a company partners with to actively promote and sell a…
19 terms
Principles of Marketing Chapter 8
Bullwhip Effect
Competitive Intelligence
Consumerism
Cross Channel
The impact on supply chains that occurs when changing demand…
Market research goal of systematically gathering data and inf…
An organized movement of individuals, groups, and governments…
Marketing approach of engaging consumers across all available…
Bullwhip Effect
The impact on supply chains that occurs when changing demand…
Competitive Intelligence
Market research goal of systematically gathering data and inf…
22 terms
Marketing 320 chapter 8
International entry mode
Going international, evaluating opport…
Selecting intl entry mode (pyramid)
Selecting the International Entry Mode…
indirect exporting and direct exporting, no risk, no control
-consider drivers of intl expansion in the environment (compe…
indirect, direct exporting, licensing franchising, joint vent…
company uses home country intermediaries who in turn sell pro…
International entry mode
indirect exporting and direct exporting, no risk, no control
Going international, evaluating opport…
-consider drivers of intl expansion in the environment (compe…
18 terms
Marketing Chapter 8
Idea Generation
New Product Development Process
Crowdsourcing
Idea Screening
search for a new product
Idea generation, idea screening, concept development and test…
inviting people into the new product innovation process... Ex: C…
Screening new product ideas to spot good ones and drop poor o…
Idea Generation
search for a new product
New Product Development Process
Idea generation, idea screening, concept development and test…
11 terms
Marketing Chapter 8 Vocabulary
constraints
cross tabulation
data
information technology
In a decision, the restrictions placed on potential solutions…
A method of presenting and analyzing data involving two or mo…
The facts and figures related to the project that are divided…
Involves operating computer networks that can store and proce…
constraints
In a decision, the restrictions placed on potential solutions…
cross tabulation
A method of presenting and analyzing data involving two or mo…
25 terms
Marketing Chapter 8
Creating successful new products requi…
New product can mean...
FIGURE 7.6
8 stages of new product development
Understanding customers, markets, and competitors & developin…
Innovative benefits, different and better than existing produ…
...
Idea generation, idea screening, concept development and test…
Creating successful new products requi…
Understanding customers, markets, and competitors & developin…
New product can mean...
Innovative benefits, different and better than existing produ…
35 terms
Marketing Chapter 8
Product
Service
Experience
Three levels of product and services
Anything that can be offered to a market for attention or con…
An activity, benefit, or satisfaction offered for sale that i…
"customers are really buying much more than products and serv…
core customer value, actual product, augmented product
Product
Anything that can be offered to a market for attention or con…
Service
An activity, benefit, or satisfaction offered for sale that i…
21 terms
Sports Marketing ~ Chapter 8 Terms
Amateur athlete
Amphitheater
Art-house movies
Broadcast webs
someone who is not paid, but plays for enjoyment and challeng…
oval-shaped outdoor theater with tiered seating around a cent…
movies whose subjects are outside the mainstream (p. 215)
groups (called affiliations) of television networks, producti…
Amateur athlete
someone who is not paid, but plays for enjoyment and challeng…
Amphitheater
oval-shaped outdoor theater with tiered seating around a cent…
24 terms
Marketing, Chapter 8
Convenience products are consumer prod…
Shopping products are
Specialty products are consumer produc…
Unsought products are consumer product…
the customer usually buys frequently, immediately, and with a…
less frequently purchased consumer products and services that…
with unique characteristics or brand identification for which…
the consumer does not know about or knows about but does not…
Convenience products are consumer prod…
the customer usually buys frequently, immediately, and with a…
Shopping products are
less frequently purchased consumer products and services that…
25 terms
Marketing Chapter 8
market
market segment
market segmentation
segmentation bases (variables)
people or organization with needs or wants and the ability an…
a subgroup of people or organizations sharing one or more cha…
the process of diving a market into meaningful, relatively si…
characteristics of individuals, groups, or organizations
market
people or organization with needs or wants and the ability an…
market segment
a subgroup of people or organizations sharing one or more cha…
32 terms
Chapter 8 - Marketing
adult (adj.)
apparent (adj.)
attribute (v.)
code (n.)
being a person who is physically and mentally mature
obvious; clear
to explain the reason for something
set of rules for behavior
adult (adj.)
being a person who is physically and mentally mature
apparent (adj.)
obvious; clear
28 terms
Marketing Chapter 8
market
market segment
market segmentation
Criteria for Successful Market Segment…
people or organizations with needs or wants and the ability a…
a subgroup of people or organizations sharing one or more cha…
the process of dividing a market into meaningful, relatively…
1. must be substantial and have enough potential customers... 2…
market
people or organizations with needs or wants and the ability a…
market segment
a subgroup of people or organizations sharing one or more cha…
15 terms
Marketing Chapter 8
product
core product
expected product
augmented product
any offering that can satisfy consumers needs and wants
the fundamental benefit or problem solution that consumers seek
the basic physical product, including styling, features, bran…
product enchanted by the addition of extra or unsolicited ser…
product
any offering that can satisfy consumers needs and wants
core product
the fundamental benefit or problem solution that consumers seek
18 terms
Marketing Chapter 8
Product
Service
Levels of product and services
Unsought products
anything that can be offered in a market for attention, acqui…
a product that consists of activities, benefits or satisfacti…
consumer products that the consumer does not know about or kn…
Product
anything that can be offered in a market for attention, acqui…
Service
a product that consists of activities, benefits or satisfacti…
19 terms
Marketing 372 Chapter 8
Alternative workplace
Cross training
Empowerment
Ergonomics
a combination of nontraditional work location, settings and p…
an employee learns more than one job in the organization
the authority and responsibility of the workers to alert mana…
the application of human sciences like anatomy, physiology, a…
Alternative workplace
a combination of nontraditional work location, settings and p…
Cross training
an employee learns more than one job in the organization
24 terms
Marketing Chapter 8
Idea Generation
Idea Screening
Fashion
Product development
The systematic search for new product idea
Screening new product ideas to spot good ones and drop poor o…
A currently accepted or popular style in a given field
Developing the product concept into a physical product to ens…
Idea Generation
The systematic search for new product idea
Idea Screening
Screening new product ideas to spot good ones and drop poor o…
21 terms
Marketing Chapter 8
New-product development
Idea generation
Crowdsourcing
Idea screening
the development of original products, product improvements, p…
the systematic search for new product ideas
inviting broad communities of people- customers, employees, i…
screening new-product ideas to spot good ideas and drop poor…
New-product development
the development of original products, product improvements, p…
Idea generation
the systematic search for new product ideas
12 terms
marketing chapter 8
idea screening
product concept
concept testing
test marketing
screening new product ideas to spot good ones and drop poor o…
a detailed version of the new product idea stated in meaningf…
Testing new-product concepts with a group of target consumers…
the stage of new product development in which the product and…
idea screening
screening new product ideas to spot good ones and drop poor o…
product concept
a detailed version of the new product idea stated in meaningf…
Chapter 8 Marketing
Product
Service
Business analysis
Consumer Products
Anything that can be offered to a market for attention, acqui…
An activity, benefit, or satisfaction offered for sale that i…
A review of the sales, costs, and profit projections for a ne…
Products bought by final consumers for personal (i.e. non bus…
Product
Anything that can be offered to a market for attention, acqui…
Service
An activity, benefit, or satisfaction offered for sale that i…
21 terms
Marketing Chapter 8
Major Stages in New Product Development
Idea Generation (Step 1)
Internal Idea Sources
External Idea Sources
1. Idea Generation... 2. Idea Screening... 3. Concept Development a…
The systematic search for new product ideas.
Internal social networks, research and development, pick thro…
Distributers ans Suppliers - Often have a pulse of what's goi…
Major Stages in New Product Development
1. Idea Generation... 2. Idea Screening... 3. Concept Development a…
Idea Generation (Step 1)
The systematic search for new product ideas.
44 terms
Chapter 8- Marketing
Product
Quality
Product Assortment
Product Line
The need-satisfying offering of a firm.
A product's ability to satisfy a customer's needs or requirem…
The set of all individual products and product lines that a f…
A set of individual products that are closely related.
Product
The need-satisfying offering of a firm.
Quality
A product's ability to satisfy a customer's needs or requirem…
44 terms
Marketing Chapter 8
Marketing Research
Decision
Exploratory Research
Descriptive research
the process of defining a marketing problem and opportunity,…
a conscious choice from a among two or more alternatives
provides ideas about a relatively vague problem
involves trying to find the frequency that something occurs o…
Marketing Research
the process of defining a marketing problem and opportunity,…
Decision
a conscious choice from a among two or more alternatives
12 terms
International Marketing Chapter 8
marketing research
research process
secondary data
back translation
The systematic gathering, recording, and analyzing of data to…
The process of obtaining info; it should begin with a definit…
Data collected by an agency or individual other than the one…
The process in which a document, such as a questionnaire, or…
marketing research
The systematic gathering, recording, and analyzing of data to…
research process
The process of obtaining info; it should begin with a definit…
Marketing Chapter 8
Product
Quality
Product Assortment
Product Line
the need-satisfying offering of a firm.
a product's ability to satisfy a ... customer's needs or require…
the set of all product lines and individual products that a f…
a set of individual products that are closely related.
Product
the need-satisfying offering of a firm.
Quality
a product's ability to satisfy a ... customer's needs or require…
56 terms
marketing chapter 8
product
quality
product assortment
a product line
means the need satisfying offering of a firm
means a products ability to satisfy a customers needs or requ…
is the set of all product lines and individual products that…
is a set of individual products that are closely related
product
means the need satisfying offering of a firm
quality
means a products ability to satisfy a customers needs or requ…
Chapter 8: Marketing Research
P&G's Tide (Example)
Marketing Resaerch
Questions to be asked by a critical us…
Why Marketing Research
Competitors can quickly copy product benefits... But, they can'…
Intended to address carefully defined marketing problems or o…
-What are the research objectives? ... -Will the data to be col…
-Improve Quality of Decision Making... -Trace Problems... -Focus…
P&G's Tide (Example)
Competitors can quickly copy product benefits... But, they can'…
Marketing Resaerch
Intended to address carefully defined marketing problems or o…
21 terms
Chapter 8 Marketing 362
Fashion
Style
Team-Based New Product Development
Product Development
A currently accepted or popular style in a given field
A basic and distinctive mode of expression
New product development in which various company departments…
Developing the product concept into a physical product to ens…
Fashion
A currently accepted or popular style in a given field
Style
A basic and distinctive mode of expression
10 terms
Chapter 8 Marketing
Promotion is one of the components tha…
Wesley Electronics Inc. manufactures e…
Volten Inc. is an online apparel store…
The purpose of market segmentation is…
True
Designing and implementing marketing mixes
Product User
True
Promotion is one of the components tha…
True
Wesley Electronics Inc. manufactures e…
Designing and implementing marketing mixes
Marketing Chapter 8
marketing information
decision support system (DSS)
database marketing
marketing research
everyday information about developments in the marketing envi…
an interactive, flexible computerized information system that…
the creation of a large computerized file of customers' and p…
the process of planning, collecting, and analyzing data relev…
marketing information
everyday information about developments in the marketing envi…
decision support system (DSS)
an interactive, flexible computerized information system that…
28 terms
Marketing Chapter 8
4 characteristics that affect marketin…
Variability
Intangibility
Inseparability
Variability, intangibility, inseparability, perishability
Quality of service depends on who provides them and when, whe…
Services cannot be seen, tasted, heard, felt, etc. before pur…
Services cannot be separated from their providers
4 characteristics that affect marketin…
Variability, intangibility, inseparability, perishability
Variability
Quality of service depends on who provides them and when, whe…
24 terms
Chapter 8 Marketing
Business analysis
New-product development
Diffusion of innovation
Technology Adoption Life Cycle
A review of the sales, costs, and profit projections for a ne…
The development of original products, product improvements, p…
A social sciences theory that divides members of a social gro…
A marketing theory that proposes that when marketing a techno…
Business analysis
A review of the sales, costs, and profit projections for a ne…
New-product development
The development of original products, product improvements, p…
Principles of Marketing Chapter 8
Product
Quality
Relative Quality
Product Assortment
The need-satisfying offering of a firm
A product's ability to satisfy a costumer's needs or requirem…
The quality and grade of the material of a product as compare…
The set of all product lines and individual products that a f…
Product
The need-satisfying offering of a firm
Quality
A product's ability to satisfy a costumer's needs or requirem…
23 terms
marketing chapter 8
acquisition
New product development
Idea generation
Crowdsourcing
by buying a whole company, patent, or a license to produce so…
The development of original products, product improvements, p…
The systematic search for new product ideas.
Inviting broad communities of people--customer, employees, in…
acquisition
by buying a whole company, patent, or a license to produce so…
New product development
The development of original products, product improvements, p…
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