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Involves the marketing of goods and services to companies, governments, or non-profit organizations for use in the creation of goods and services that they can produce and market to others
Are those manufacturers, wholesalers, retailers, and gov. agencies that buy goods and services for their own use or for resale
Consists of standards for registration and certification of a manufacturer’s quality management and assurance system based on an on-site audit of practices and procedures
the deliberate effort by organizational buyers to build relationships that shape suppliers’products, services, and capabilities to fit a buyer’s needs and those of its customers.
A society's personally or socially preferable modes of conduct or states of existence that tend to persist over time
Involves a systematic appraisal of the design, quality, and performance of a product to reduce purchasing costs
The demand for industrial products and services is driven by, or derived from, demand for consumer products and services
consists of the distinct phases that a family progresses through from formation to retirement, each phase bringing with it identifiable purchasing behaviors
Most frequently used determents of social class are?
Consists of the actions a person takes in purchasing and using products and services, including the mental and social processes that come before and after these actions
Consist of factors that represent both the objective attributes of a brand and the subjective ones a consumer uses to compare different products and brands
The group of brands that the consumer thinks would satisfy the evaluative criteria
is the personal (e.g., safety consequences), social (e.g., reflect on social image/status), and economic significance (e.g. expensive) of the purchase to the consumer
Consist of the 5 aspects of the purchase situation that impacts the consumer's purchase decision process
An industrial buying practice in which 2 organizations agree to purchase each other's products and services
is a relationship that exists when a buyer and its supplier adopt mutually beneficial objectives, policies, and procedures for the purpose of lowering the cost or increasing the value of products and services delivered to the ultimate consumer.
Consists of a group of people in an organization who participate in the buying process and share common goals, risks, and knowledge important to a purchase decision
Includes ALL buyers except for "ultimate consumers" & accounts for much more than consumer sales overall
Monetary value of all goods and services produced in a country in one year
A permanent institution that sets rules governing trade between its members through panels of trade experts who decide on trade disputes between members and issue binding decisions
Exists when firms originate, produce, and market their products and services worldwide
Agreements among 2 or more independent firms to cooperate for the purpose of achieving common goals
Involves multinational firms that have as many different product variations, brand names, and advertising programs as countries in which they do business
involves transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ.
A brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs
Involves the study of similarities and differences among consumers in two or more nations or societies. Includes considering the following areas:
a law, amended by the International Anti-Dumping and Fair Competition Act (1998), that makes it a crime for U.S. corporations to bribe an official of a foreign government or political party to obtain or retain business in a foreign country
Field of study that examines the correspondence between symbols and their role in the assignment of meaning for people
Where a translated word or phrase is retranslated into the original language by a different interpreter to catch errors
The tendency to believe that it is inappropriate, indeed immoral, to purchase foreign-made products
a global market-entry strategy in which a foreign company and a local firm invest together to create a local business in order to share ownership, control, and profitsof the new company
A global market-entry strategy that entails a domestic firm actually investing in and owning a foreign subsidiary or division
Occurs when a firm sells a product in a foreign country below its domestic price or below its actual cost
A situation where products are sold through unauthorized channels of distribution
Generally involves trying to find the frequency that something occurs or the extent of a relationship between 2 factors
Most sophisticated, tries to determine the extent to which the change in one factor changes another one
Measures of success
In a decision, the restrictions placed on potential solutions to a problem
restrictions placed on potential solutions to a prob.
(limits on time, money available) exp: decision must be made in 10 weeks, and no research budget is available.
Technique to select a group of distributors, customers or prospects and treating the information they provide as typical of all those in whom they are interested
The facts and figures related to the problem that are divided into 2 main parts: secondary and primary data
-facts and figs related to prob
-2 parts: 2ndary and primary
- internal or external: depending on whether the data comes from inside or outside the organization
The facts and figures that have already been recorded before the project at hand
The facts and figures that are newly collected for the project
The facts and figures obtained by watching, either mechanically or in person, how people actually behave
Specialized observational approach in which trained observers seek to discover subtle behavioral and emotional reactions as consumers encounter products in their "natural environment"
Allows respondents to express opinions, ideas or behaviors in their own words without being forced to choose among alternatives that have been predetermined by a marketing researcher
involves operating computer networks that can store and process data
Consists of the total sales of a product that a firm expects to sell during a specified time period under specified environmental conditions and its
Involves estimating the value to be forecasted without any interviewing steps
Involves starting with the last known value of the item being forecasted, listing the factors that could affect the forecast, assessing whether they have a positive or negative impact, and making the final forecast
Involves asking prospective customers if they are likely to buy the product during some future time period
The act of consciously choosing between 2 alternatives
__________ data: often the starting point for a new marketing research study because using this information can result in huge time and cost savings
The facts and figures obtained by asking people about their attitudes, awareness, intentions and behaviors
Methods that attempt early identification of elusive consumer tastes or trends
Require respondents to select one or more response options from a set of predetermined choices
Simplest form of a fixed alternative question that requires Y or N
A five-point scale in which the opposite ends have one- or two-word adjectives that have opposite meanings
Respondent indicates the extent to which he or she agrees or disagrees with a statement
Involves operating computer networks that can store and process data
Core that is formed from the databases, where the ocean of data is collected and stored
Marketers use this to query the database with "what if" questions to determine how a hypothetical change in a drive such as advertising can affect sales
Involves extending a pattern observed in the past date into the future
When the pattern is described in a straight line
Uses high tech brain scanning instruments to record the brain's responses to various marketing stimuli via the five senses
Involves aggregating prospective buyers into groups, or segments, that (1) have common needs and (2) will respond similarly to a marketing action
The relatively homogeneous groups of prospective buyers that result from the market segmentation process
A marketing strategy that involves a firm using different marketing mix activities to help consumers perceive the product as being different and better than competing products
Two-teir marketing strategy, where companies offer different variations of the same basic offering to high-end and low-end segments
Tailoring goods or services to the tastes of individual customers on a high-volume scale
Manufacturing a product only when it is ordered by a customer
The increased customer value achieved through performing organizational functions such as marketing or manufacturing more efficiently
Increased customer value can take many forms: more product, improved quality on existing products, lower prices, easier access to products through improved distribution
When new products or new chains steal customers and sales from the older, existing ones
1. Simplicity and cost-effectiveness of assigning potential buyers to segments
2. Potential for increased profit
3. Simlarity of needs of potential buyers within a segment
4. Difference of needs of buyers among segments
5. Potential of a marketing action to reach a segment
Quantity consumed or store visits during a specific period also called Frequency marketing
a concept that suggests 80% of a firm's sales are obtained from 20% of its customers
A framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization
Running horizontally across the grid, each row represents an opportunity for efficiency in terms of a market segment
Running down the market-product grid, each column represents an opportunity for efficiency in research and development and production.
The place an offering occupies in consumers' minds on important attributes relative to competitive products
Involves changing the place an offering occupies in a consumer's mind relative to competitive products
Involves competing directly with competitors on similar product attributes in the same target market
Involves seeking a less-competitive, smaller market niche in which to locate a brand
Means of displaying in two dimensions the location of product or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands, as well as its own product or brand to develop marketing actions to move its product or brand to an ideal position
a branding strategy where a firm markets products under its own name(s) and that of a reseller because the segment attracted to the reseller
is different from its own market.
are independently owned firms that take title to the merchandise
consists of agreements and procedures among channel members for ordering and physically distributing a producer’s products through the channel to the ultimate consumer.
is the practice of organizing the cost-effective flow of raw materials,
in-process inventory, finished goods, and related information from point of origin to point of consumption to satisfy customer requirements.
consists of a sequence of firms that perform activities required to create and deliver a product or service to consumers or industrial users.
is the ability
of logistics management to satisfy users in terms of time, dependability, communication, and convenience.
personally or socially preferable modes of conducts or states of existence that tend to persist over time.
1. Changing beliefs about the extent to which a brand has certain attributes.
2. Changing the perceived importance of attributes3. Adding new attributes to the product
4 major trends that affect the global market
4 major trends that affect world trade
4 major trends that affect world trade
Order of pyramid - (bottom to top)
Physiological needs: food, water, oxygen, shelter
Safety needs: freedom from harm, financial security
Social needs: friendship, belonging, love
Personal needs: status, respect, prestige
Self- actualization needs: self-fulfillment
the anxiety felt because the consumer cannot anticipate the outcomes of a purchase but believes there may be negative consequences
A test of if mkting research should be done…
If diff outcomes lead to diff mkting actions’-waste of $ if research outcomes lead to same action
Badforecasts can lead to…
Lost sales from understocks or overstocks
Problems in mkting research…
-if obj too broad, problem may not be researchable.
-if too narrow, research results can be lessened too much.
-WHY mkting researchers spend time defining mkt prob and write formal proposal for research to be done.
S2- Develop the research plan: 3 requirements for researcher:
1-specify constraints on MR activity 2-ID data needed for mktig decisions 3-determine how to collect the data
2-ID data needed:
3-Deremine how to collect data
often important as collecting data2 elements: 1-concepts (ideas about products) can use new-product concept(pic or verbal description of new product) 2-methods (approaches used to collect data to solve probs)
method issues MR face:
-better off not asking ?’s and observing, -when observing how get info w/o bias. –ask young kids meaningful ?’s they’ll answer.
-info for avoiding these and on useful methods is in tradebooks, textbooks, and handbooks exp: Journal of MR.
2 special methods vital to mkting:
1-sampling (tech to select grp of customers and distributers and treating info they give as typical of all those that’re interested) 2-statistical inference (generalize results from samp to lrger grps to help decide mkting actions.
S3: Collect relevant info:
-sometimes use knowledge to decide, other times collect enormous amount of info at great expense.
facts and figs already recorded
1) internal-in firm data. Starting point. Broken by product line, region, customer, sales rep, and complaints. [finance statements, research reports, files, cutomer letters and lists])
2)external-outside firm. Best is Census 2000, every 10 yrs [US Census reports, trade assoc studies, mags, internet reports]) (syndicated panel data-pay HH to record purchases w/diary)
P&G use services such as…
Info resources, info scan and ACNielsen’s scantrack to collect product sales and coupons that are scanned.
-important b/c critical to allocate scarce mkting resources when a big firm. Adv=lil firms can get info themselves
1. Define the problem
2. Develop the research plan
3. Collect relevant information
4. Develop findings
5. Take marketing actions
- Geographic segmentation
- Demographic Segmentation
- Psychographic Segmentation
- Behavioral Segmentation
Cost of reaching the segment
Compatibility with the organization's objectives and resources
Intensive - Firm tries to place its products and services in as many outlets as possible
Exclusive - Only one retail outlet in a specific geographical area carries a firm's product
Selective - firm selects a few retail outlets in a specific geographical area to carry its products - most common form
3 degrees of distribution density
3. Discrepancy in quantity & assortment
4. Product Variety & Assortment