Study sets matching "marketing chapter 8"

Study sets
Classes
Users

Study sets matching "marketing chapter 8"

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 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…
25 terms
Marketing Chapter 8
Market
market segment
market segmentation
segmentation bases (variables)
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…
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…
Marketing Essentials Chapter 8
Communication
Channels/Media
Advertising Channel
Feedback
Process of exchanging messages between a sender and receiver.
Ways in which messages are delivered.
Include television, radio, print media, and the Internet.
A receiver's response to a message.
Communication
Process of exchanging messages between a sender and receiver.
Channels/Media
Ways in which messages are delivered.
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…
25 terms
Chapter 8 Marketing Essentials
Communication
Body Language
Channels
Feedback
The process of exchanging information, ideas, and feelings.
Your gestures, movements and mannerisms that communicate your…
the avenues by which messages are delivered.
The receiver's response to the message.
Communication
The process of exchanging information, ideas, and feelings.
Body Language
Your gestures, movements and mannerisms that communicate your…
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…
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…
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…
Marketing chapter 8
Marketing research
Goal of Marketing Research:
Step 1 of a marketing research project
Step 2 of a marketing research project
is the process of defining a marketing problem and opportunit…
to identify problems and opportunities and to generate and im…
Define the problem ... - Set research objectives, identify possi…
Develop the research plan... a. Specify constraints... b. Identify…
Marketing research
is the process of defining a marketing problem and opportunit…
Goal of Marketing Research:
to identify problems and opportunities and to generate and im…
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
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…
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…
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…
17 terms
Marketing Chapter 8
Product
Service
Consumer product
Convenience product
Anything that can be offered to a market for attention, acqui…
Any activity or benefit that one party can offer to another t…
A product bought by final consumers for personal consumption
a consumer product that customers usually buy frequently, imm…
Product
Anything that can be offered to a market for attention, acqui…
Service
Any activity or benefit that one party can offer to another t…
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…
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
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.
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…
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
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…
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…
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…
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…
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…
42 terms
Marketing 300 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 requirem…
The set of all product lines and individual products a firm s…
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…
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…
13 terms
Marketing chapter 8
Idea generation
Idea screening
Concept development and testing
Marketing strategy development
which is the systematic search for new product ideas. Major s…
Screening new product ideas to spot good ones and drop poor o…
Testing new product concepts with a group target consumers to…
involves designing an initial marketing strategy for introduc…
Idea generation
which is the systematic search for new product ideas. Major s…
Idea screening
Screening new product ideas to spot good ones and drop poor o…
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…
B) idea generation
E) Customers, competitors, and suppliers are major sources of…
E) intrapreneurial programs
D) employees
The new product development process us…
B) idea generation
Which of the following statements is m…
E) Customers, competitors, and suppliers are major sources of…
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
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
25 terms
Marketing Vocab Chapter 8
Market
Market Segment
Market Segmentation
Segmentation Bases (Variables)
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…
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…
11 terms
Chapter 8 Marketing Terms
E-commerce
Click only business
brick and mortar business
brick and click business
involves business activities, including the exchange of goods…
aka: dot.com business; companies that complete almost all of…
companies that complete most of their business activities by…
companies that combine traditional business operations with t…
E-commerce
involves business activities, including the exchange of goods…
Click only business
aka: dot.com business; companies that complete almost all of…
19 terms
chapter 8 - Marketing 201
Marketing research
type of marketing research
exploratory research
descriptive research
is the process of defining a marketing problem and opportunit…
1. exploratory research ... 2. descriptive research... 3. causal re…
is preliminary research conducted to clarify the scope and na…
is research designed to describe the basic characteristics of…
Marketing research
is the process of defining a marketing problem and opportunit…
type of marketing research
1. exploratory research ... 2. descriptive research... 3. causal re…
Marketing Chapter 8
Innovation
Pioneers
First Movers
Diffusion of Innovation
Process by which ideas are transformed into new products
New product introductions that establish an entirely new mark…
Product pioneers that are the first to create a new market or…
Process by which the use of an innovation spreads throughout…
Innovation
Process by which ideas are transformed into new products
Pioneers
New product introductions that establish an entirely new mark…
23 terms
Chapter 8: Global Marketing
direct investment
exchange control
exchange rate
exporting
requires a firm to maintain 100% ownership of its plants, ope…
regulation of a country's currency's exchange rate
measure of how much one currency is worth in relation to anot…
producing goods in one country and selling them in another
direct investment
requires a firm to maintain 100% ownership of its plants, ope…
exchange control
regulation of a country's currency's exchange rate
30 terms
Marketing Chapter 8
Setting Objectives
Hierarchy of objectives
Marketing objectives
IMC objectives
- Specific Goals & Objectives SHOULD form the foundation upon…
Marketing objectives... ⇣... IMC objectives... ⇣... Advertising objective…
- Generally stated in the firm's marketing plan... - Achieved th…
- Derived from the overall marketing plan... - More narrow than…
Setting Objectives
- Specific Goals & Objectives SHOULD form the foundation upon…
Hierarchy of objectives
Marketing objectives... ⇣... IMC objectives... ⇣... Advertising objective…
Interactive Marketing Chapter 8
Broadcast
Cost Per Response (CPR)
Cost per Viewer (CPV)
Gross Rating Points (GRPs)
Electronic instrumentation of radio and television, including…
-The total promotion budget divided by the total number of or…
The total promotion budget divided by the total number of peo…
A mathematical value computed by multiplying reach by frequen…
Broadcast
Electronic instrumentation of radio and television, including…
Cost Per Response (CPR)
-The total promotion budget divided by the total number of or…
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…
28 terms
Marketing chapter 8
"Annual reports, speeches, blogs, and…
Which of the following promotion tools…
Which of the following promotional too…
"_____ is best defined as the dissemin…
Public relations
Coupons
Billboard banner
Narrowcasting
"Annual reports, speeches, blogs, and…
Public relations
Which of the following promotion tools…
Coupons
44 terms
Marketing 301 Chapter 8
Characteristic of a market... all market…
Marketing segmentation : Market
Marketing segmentation : Market segment
The Importance of Market segmentation
1. They are composed of a group of people... 2. They have wants…
People or organization with needs or want and the ability to…
A Subgroup of people or organization sharing one or more char…
Markets have a verity of product needs and preferences... marke…
Characteristic of a market... all market…
1. They are composed of a group of people... 2. They have wants…
Marketing segmentation : Market
People or organization with needs or want and the ability to…
Marketing Chapter 8
Product
Quality
Differences between Goods and Services
Product Assortment
The need-satisfying offering of a firm... -Customers think abou…
A product's ability to satisfy a customer's needs or requirem…
Goods:... - tangible... - you own it ... - generally mass-produced in…
The set of all product lines and individual products that a f…
Product
The need-satisfying offering of a firm... -Customers think abou…
Quality
A product's ability to satisfy a customer's needs or requirem…
Marketing Chapter 8
Design
Style
Width
product line filling
Contributes to a product's usefulness as well as to its looks.
A sensational ______ may grab attention and produce pleasing…
Product mix ______ refers to the number of different product…
An alternative to product line stretching is ______, adding m…
Design
Contributes to a product's usefulness as well as to its looks.
Style
A sensational ______ may grab attention and produce pleasing…
Digital Marketing - Chapter 8
Final word on website design changes b…
What design should be used on a website?
Website Analytics
Tracking website user behavior
user
The one that leads users to the desired behavior (purchases,…
data generated by website users... -used to make informed decisi…
-install an analytics program into every page of website (don…
Final word on website design changes b…
user
What design should be used on a website?
The one that leads users to the desired behavior (purchases,…
15 terms
Principles of Marketing Chapter 8
Marketing Research:
Step One: Defining the Problem
Measures of Success
Step Two: Develop Research Plan
process of defining a marketing problem and opportunity, syst…
Set objectives:... Exploratory research... Descriptive research... Cau…
criteria or standards used in evaluating proposed solutions t…
o Specify constraints... o Identify data ... o Determine how to col…
Marketing Research:
process of defining a marketing problem and opportunity, syst…
Step One: Defining the Problem
Set objectives:... Exploratory research... Descriptive research... Cau…
Marketing Chapter 8
Operational Database
Marketing Database
Internal Data Sources (3)
External Data Sources (2)
Contains: Customer transactions and follows accounting rules
Contains: Current customer information, former customer infor…
1) Email Addresses and other personal identification data... 2)…
1) Geocoding... 2) Rented Lists
Operational Database
Contains: Customer transactions and follows accounting rules
Marketing Database
Contains: Current customer information, former customer infor…
1 of 10