COMM 296 - Midterm

look for products that enhance image of personal success

Achievement

what person feels about issue at hand - like/dislike of something

Affective Component

enduring evaluation of feelings about and behavioural tendencies toward object

Attitude

sell merchandise or services from one business to another

B2B Marketing

businesses sell to consumers

B2C Marketing

born after WWII, between 1946 and 1964

Baby Boomers

value of project

Before designing research project, what should you assess?

actions person takes with regard to issue at hand

Behavioural Component

divide based on how product used

Behavioural Segmentation

grouping based on benefits derived from products

Benefit Segmentation

data sets too large and complex to analyze with conventional data management and data mining software

Big Data

stars = heavy resource investment; cash cows = excess resources can be spun off to those products that need it; question marks = require significant resources to maintain and increase market share; dogs = generate enough resources to maintain themselves, but not "stars"

Boston Consulting Group Matrix

consumers sell to other consumers

C2C Marketing

yes

Can panel and scanner data be secondary and primary?

# of participants who discontinue use of service, divided by average # of total participants

Churn

what person believes to be true

Cognitive Component

trades off one characteristic against another such that good characteristics compensate bad ones

Compensatory Decision Rule

selecting single, primary target market and focusing energies on providing product to fit market needs

Concentrated Targeting Strategy

end purchaser

Consumer

criteria consumers use consciously/subconsciously to quickly and efficiently select from alternatives

Consumer Decision Rules

products used by people for personal use

Consumer Products

evaluate performance of marketing strategy and take necessary corrective actions

Control Phase

consumer isn't willing to spend any effort to evaluate prior to purchase, such as bread, soap, juice

Convenience Products

% of consumers who buy product after viewing it

Conversion Rate

parties that work with focal firm

Corporate Partners

easy-to-spot visible nuances particular to country (dress, language, food) and subtler aspects, which are hard to identify

Country Culture

too many people; too much merchandise; lineup too long

Crowding

shared meanings, beliefs, morals, values, and customs of people

Culture

retailer, such as Safeway

Customer

retaining loyal customers and providing excellent customer service

Customer Excellence

buy certain brands; shop at certain stores; include no other firms in evoked set

Customer Loyalty

raw numbers or facts

Data

report on past, analyze present, predict future

Data Analytics

use statistical analysis tools to uncover previous unknown patterns in data stored in databases

Data Mining

large computer files store millions of pieces of individual data

Data Warehouses

group consumers according to measured, objective characteristics, such as age, gender, income

Demographic Segmentation

characteristics of population used to identify consumer markets, such as age, gender, income, and education

Demographics

judgement that level of sweetness too much

Describe attitude with the use of an example.

level of sweetness you taste

Describe perception with the use of an example.

product features important to buyer and on which competing brands perceived to differ

Determinant Attributes

target several market segments with different offering for each

Differentiated Targeting Strategy

similar products to fulfill same need in same target segment

Direct Competition

perceive, then form attitude

Do you perceive something first or form an attitude first?

no

Does marketing research always happen in steps listed?

affects way consumers buy merchandise and spend money, both in home country and abroad

Economic Situation

enable people to fulfill their inner desires

Esteem Needs

salient, important attributes about particular product

Evaluative Criteria

alternative brands/stores consumers would consider when making purchase decision

Evoked Sets

trade things of value between buyer and seller so each better off

Exchange

quantitative research manipulates variables to determine which variables have causal effect

Experimental Research

purchase decision process during which consumer spends considerable time and effort analyzing alternatives

Extended Problem Solving

fate/external factors control outcomes; doesn't matter how much information gathered

External Locus of Control

buyer seeks information outside personal knowledge to help make buying decision

External Search for Information

automatically identifies individuals from video/digital images

Facial Recognition Software

monetary outlay; includes initial cost and costs of using item

Financial Risk

intensive discussion about topic, with conversation guided by trained moderator using unstructured method of inquiry

Focus Group Interviews

changes in value of country's currency relative to currency of another country

Foreign Currency Fluctuations

pertain to performance of product

Functional Needs

born between 1965 and 1976; grew up in homes where parents work and 50% divorced

Gen X

born between 1977 and 2000; biggest since postwar baby boom

Gen Y (Millennials)

born between 2001 and 2014; born into technology, such as Internet and social networks

Gen Z (Digital Natives)

people of same generation; have similar purchase behaviours because shared experiences and same stage of life

Generational Cohort

uses combination of geographic, demographic, and lifestyle characteristics

Geodemographic Segmentation

organizes customers into groups on basis of where they live

Geographic Segmentation

can physically touch

Goods

supply customers with environmentally friendly merchandise

Green Marketing

exploiting customers by dishonestly marketing products as environmentally friendly to increase public approval and sales

Greenwashing

purchase decision process in which consumers engage with little conscious effort

Habitual Decision Making

scrutinize all information provided and process key elements of message more deeply

High-Involvement Consumer

knowing how children influence food-buying decisions or which age cohorts shop at specific stores

How can "family" create an opportunity to make a difference in the bottom line?

b2c, b2b, and c2c

How can marketing be performed by individuals and organizations?

use financial metrics, such as sales and profits

How can you assess performance?

communication strategy

How can you effectively and easily portray a product's benefits?

through persuasive communication and personal experience

How can you influence attitude?

investing in brand; positioning product using clear, distinctive brand image; reinforcing image through merchandise

How can you maintain your competitive advantage through product excellence?

strong brand, unique merchandise, superior customer service, and loyalty programs

How can you retain loyal customers?

segment/divide into groups that are important

How can you satisfy customer needs and wants?

marketing research insights, excellent source of ideas and information

How do blogs help marketers?

lifetime value perspective, rather than transaction-by-transaction basis

How do you view customers, in order to retain them?

attract customer traffic to sites, better conversion methods

How does Google help firms?

better integrate data, visualize them, move to real-time insights

How does SAP help firms, in terms of data?

finds out what would happen to sales, if decrease price of unpopular product

How does scanner data help?

provide opinions about products, interests, polls, blogs; learn about likes, dislikes, preferences

How does social media help marketers?

first divide market, determine which to pursue, and decide how to position

How does the STP work?

use weighted average score based on importance of various attributes and performance on those issues

How does the multi-attribute model work?

randomly or based on characteristics, such as age

How is a sample chosen?

questions cannot be misleading, address one issue, layout professional, easy to follow

How should a questionnaire be designed?

profit margin % = (selling price - variable costs) / selling price

How to calculate profit margin %?

segment profitability = (segment size x segment adoption % x purchase behaviour x profit margin %) - fixed cost

How to calculate profitability of market segment?

purchase behaviour = purchase price x # of times buy in yr

How to calculate purchase behaviour?

guided by knowledge or principles

Ideal Motivation

position at which particular market segment's ideal product would lie on perceptual map

Ideal Point

thoughts, opinions, and philosophies

Ideas

identify who within market to design products to meet needs

Identifiable

identify and evaluate opportunities by engaging in STP; implement marketing mix using 4 Ps

Implementation Phase

buying decision made on the spot when see merchandise

Impulse Buying

time, resources available, amount of knowledge needed for project

In order to define objectives and research needs, what do you need to consider?

researchers ask questions, listen to and record answers, and pose additional questions for clarity

In-Depth Interviews

enticed to purchase because of special assistance from salespeople

In-Store Demonstrations

filling same need but in different product form, aimed at same target segment

Indirect Competition

increase in prices of goods and services

Inflation

organized, analyzed, interpreted data that offer value to marketers

Information

general ads, personal selling, sales promotion, public relations, direct marketing, electronic media = used to provide clarity, consistency, and maximum communicative impact

Integrated Marketing Communications

cost of borrowing money

Interest Rates

have some control over outcomes of actions, so engage in more search activities

Internal Locus of Control

buyer examines own memory about product gathered through past experiences

Internal Search for Information

consumer's interest in product

Involvement

none, like filter/lens

Is perception negative or positive?

change in thought process or behaviour from experience

Learning

way consumers spend time and money to live

Lifestyle

way person lives to achieve goals

Lifestyles

purchase decision calls for moderate amount of time and effort

Limited Problem Solving

having strong physical location and Internet presence

Locational Excellence

expressed through interactions with others

Love Needs

process ad in less thorough manner; pay less attention to key elements; focus on brand name

Low-Involvement Consumer

feel so strongly that firm can meet needs best that competitors excluded from consideration

Loyal Customers

investing in loyalty initiatives to retain firm's most profitable customers

Loyalty Segmentation

external environment affects company's business, such as CDSTEP

Macroenvironment

annual rate of growth of specific market in which product competes

Market Growth Rate

defining marketing mix variable so that target customers have clear understanding of what product does or represents in comparison with competing products

Market Positioning

consumers who respond similarly to firm's marketing efforts

Market Segment

dividing market into groups of customers with different needs, wants, and characteristics; appreciate products geared for them

Market Segmentation

dividing market into groups of customers with different needs, wants, characteristics

Market Segmentation

% of market accounted for by specific entity (units, revenue, sales)

Market Share

focused on consumer needs and wants, before they designed, made, or attempted to sell products

Market-Oriented Era

activities, institutions, and processes for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society

Marketing

analysis of current marketing situation; OP and TH for firm; marketing objectives and strategy (4Ps); action programs; projected or proforma income statements

Marketing Plan (Advanced)

specifies marketing activities for specific period of time

Marketing Plan (Simplified)

techniques to collect, record, analyze, and interpret data that can aid decision makers involved in marketing

Marketing Research

identifies target market, marketing mix, and how firm plans to build sustainable competitive advantage

Marketing Strategy

classifies motives; when lower-level basic needs fulfilled, turn to satisfying higher-level human needs

Maslow's Hierarchy of Needs

quantifies trend, dynamic, or characteristic

Metric

extreme form of segmentation that tailors product to meet individual customer needs

Micromarketing (One-to-One Marketing)

monitors time in front of shelf, products touched/picked, added to cart

Microsoft Kinect Sensors

broad description of firm's objectives and scope of activities it plans to undertake

Mission Statement

seek social/physical activity or independence

Motivation of Self-Expression

need strong enough to cause person to seek satisfaction

Motives

model of customer decision making based on notion that customers see product as collection of attributes

Multi-Attribute Model

consumers have unsatisfied need and want to go from actual state to desired state

Need Recognition

consumers spread negative information about product to others

Negative Word of Mouth

examine consumer brain patterns to find responses to products to develop marketing strategies

Neuromarketing

choose product based on subset of its characteristics, regardless of values of other attributes

Noncompensatory Decision Rule

examining purchase + consumption behaviours through personal or video camera

Observation

based on when product purchased/consumed

Occasion Segmentation

efficient operations, excellent supply chain management, and strong relationships with suppliers

Operational Excellence

design and update packages to be more appealing and eye catching

Packaging

information collected from group of consumers

Panel Data

don't repeat purchase or recommend products to others

Passive Consumers

select, organize, interpret information to form meaningful picture of world

Perception

displays in two dimensions the position of products/brands in consumer's mind

Perceptual Map

perceived danger inherent in poorly performing product

Performance Risk

basic biological necessities of life: food, drink, rest, shelter

Physiological Needs

fear of actual harm should product not perform properly

Physiological Risk (Safety Risk)

delivering value proposition

Place

product readily accessible where and when customer wants it

Place and Value Delivery

define business mission and objectives; assess how other players affect firm's potential of success

Planning Phase

comprises political parties, government organizations, legislation and laws

Political/Regulatory Environment

psychologically uncomfortable state produced by inconsistency between beliefs and behaviours that evokes a motivation to decrease dissonance

Postpurchase Cognitive Dissonance

capturing value

Price

charge price that customers see as giving good value for product

Price and Value Capture

collected to address specific research needs

Primary Data

creating value

Product

providing products with high perceived value; effective branding and positioning

Product Excellence

associated items, such as those consumers use/think of together

Product Lines

develop products that customers see as valuable enough to buy

Product and Value Creation Products

concerned with product innovation, not with satisfying consumer needs

Production-Oriented Era

market growth, market competitiveness, and market access

Profitable

communicating value proposition

Promotion

communicate value proposition

Promotion and Value Communication

"buy one, get one free"; coupons; free gift with purchase

Promotions

based on how they spend time and money, what activities they pursue, and attitudes and opinions about world they live in

Psychographic Segmentation

describe themselves using characteristics that help them choose how they spend time and underlying psychological reasons that determine choices

Psychographics

pertain to personal gratification consumers associate with product

Psychological Needs

way people feel if product doesn't convey right image

Psychological Risk

predisposed to purchase certain product because of psychological/social factor, but factors change in certain situations

Purchase Situation

informal research methods

Qualitative Research

structured responses can be statistically tested to confirm insights and hypotheses generated via qualitative research or secondary data

Quantitative Research

questions designed to gather information from respondents and accomplish objectives

Questionnaire

enables firm to track item from manufacturer, through distribution system, to retail store, and to consumers

Radio Frequency Identification Device

must know product exists, understand what it can do, recognize how to buy it

Reachable

people whom individual uses as basis for comparison regarding beliefs, feelings, behaviours

Reference Groups

influence area within country in which people live

Regional Culture

measure of product's strength in market; sales of focal product divided by sales of largest firm

Relative Market Share

must react similarly and positively

Responsive

brands/stores that consumer can readily bring forth from memory

Retrieval Sets

identify and evaluate opportunities to increase sales and profits

STP

conducting situation analysis within marketing plan in which both internal environment (ST and WK) and external environment (OP and TH) examined

SWOT Analysis

protection and physical wellbeing

Safety Needs

depended on personal selling and advertising

Sales-Oriented Era

educate consumers about product attributes; pointing out advantages of item; encouraging purchases

Salespeople

group of customers who represent customers of interest in research study

Sample

used in quantitative research obtained from scanner readings of UPC codes at checkout counters

Scanner Data

information that has already been collected from other sources and readily available

Secondary Data

completely satisfied with life; don't care about what others think; don't buy because of celebrities

Self-Actualization

image person has of themself

Self-Concept

goals for life, not just a day; overriding desires that drive how person lives life

Self-Values

data gathered by evaluating customer comments posted on social media sites

Sentiment Mining

intangible customer benefits that are produced by people or machines and cannot be separated from producer

Services

consumers will spend time comparing alternatives, such as apparel, fragrances, travel, appliances

Shopping Products

ready to purchase product, but completely derailed once arrive in store

Shopping Situation

specific to situation that may override or influence psychological and social issues

Situational Factors

worry others might not regard purchases positively

Social Risk

customer has strong preference and will expend considerable effort to search for best suppliers

Specialty Products

developed unique images that are based at least in part on internal environment

Store Atmosphere

division of firm that can be managed and operated independently and have different mission/objectives

Strategic Business Unit

closed-ended questions for which discrete responses or specific answers provided to evaluate

Structured Questions

market too small or buying power insignificant, won't generate sufficient profits or support marketing mix

Substantial

collecting information from people using questionnaire

Survey

advantage over competition that can't be easily copied and can be maintained over long time

Sustainable Competitive Advantage

available for fee from commercial research firms

Syndicated Data

classifies US residential neighbourhoods into 65 distinctive segments based on demographics and lifestyles

Tapestry Segmentation

evaluating attractiveness of segments and then deciding which to pursue as market

Targeting

greatly contributed to improvement of value of both products and services in past few decades

Technological Advances

state of mind at particular time can change preconceived notions; mood swings alter consumer behaviour

Temporal State

true

True or False: Attitude has the ability to influence decisions/actions.

true

True or False: The value proposition is the same as positioning.

product perceived to provide same benefits to everyone with no need to develop separate strategies

Undifferentiated Targeting Strategy (Mass Marketing)

all possible choices for product category

Universal Sets

consumers don't normally think of these products or don't know about

Unsought Products

open-ended questions that allow respondents to answer in own words

Unstructured Questions

relationship of benefits to cost

Value

customers act as collaborators to create product

Value Cocreation

unique value that product provides to customers and how it's better than and different from those of competitors

Value Proposition

classifies consumers into 8 segments: innovators, thinkers, believers, achievers, strivers, experiencers, makers, survivors

Value and Lifestyle Survey

market oriented; transcended production or selling orientation and try to discover and satisfy customer needs

Value-Based Marketing Era

online networks of people who communicate about specific topics

Virtual Community

occasion, loyalty, benefits

What are common measures of behavioural segmentation?

don't sell/fundraise under research; avoid omitting data; produce unbiased, factual information

What are ethical ways of using customer information?

loyalty cards; put garden hose and sprinklers together

What are examples of data mining?

yoga, meditation, books

What are examples of esteem needs?

family, salesperson, consumer reports, magazines

What are examples of external search for information?

observation, following social media sites, in-depth interviews, focus groups, projective techniques

What are examples of qualitative research?

experiments, surveys, scanner and panel data

What are examples of quantitative research?

self-respect, self-fulfillment, sense of belonging

What are examples of self-values?

focus groups, in-depth interviews, surveys

What are examples of sources collecting primary data?

universal sets, retrieval sets, evoked sets

What are some attribute sets of evaluation of alternatives?

compensatory and noncompensatory decision rule

What are some consumer decision rules?

fair trade by prohibiting monopolies, abstain from false ads, refrain from using harmful materials

What are some examples of a political/regulatory environment?

data warehouses, data mining

What are some examples of internal sources of secondary data?

census, information from trade associations, reports in magazines

What are some external sources of secondary data?

perceived benefits vs. costs of search; locus of control; actual/perceived risk

What are some factors affecting consumers' search processes?

produce food in reasonable sizes, have basic nutrients, no added sweetners, yoga

What are some health and wellness concerns?

sales invoices, customer lists, other reports

What are some internal sources of secondary data?

hackers, place "cookies"

What are some privacy concerns?

motives, attitude, perception, learning, lifestyle

What are some psychological factors?

purchase situation, shopping situation, temporal state

What are some situational factors?

family, reference groups, culture

What are some social factors?

health and wellness concerns; green consumers; privacy concerns

What are some social trends?

build realistic expectations; show correct product use; give money-back guarantees; encourage feedback; thank customers for support

What are some steps to ensure postpurchase satisfaction?

scanner data, panel data

What are some syndicated external sources of secondary data?

loyalty, defection rate, costs of replacing lost customers

What are some variables you would look at over a lifetime to determine profitability?

product, price, place and promotion

What are the 4 P's of the marketing mix?

helps open business

What are the benefits of a census?

helps get bigger market share, increases market for products, decreases risk

What are the benefits of a differentiated targeting strategy?

common, easy to identify, easy to reach

What are the benefits of demographic segmentation?

useful for finding new locations; retailers identify best locations and determine what types of people live in area surrounding stores

What are the benefits of geodemographic segmentation?

decreases uncertainty, provides link between firms and environments, monitors competitors

What are the benefits of marketing research?

save costs, broader range of customers

What are the benefits of online focus groups?

popular, many responses, good for small budgets and tight deadlines, generate reports quickly

What are the benefits of online surveys?

identifiable, substantial, reachable, responsive, profitable

What are the characteristics to evaluate segment attractiveness?

cognitive, affective, behavioural

What are the components of attitude?

satisfying customer needs and wants; entails exchange; requires product, price, place, and promotion decisions; performed by individuals and organizations; affects various stakeholders; helps create value

What are the components of marketing?

not always appropriate or cost-effective

What are the cons of psychographic segmentation?

difficulty understanding cultural nuances, subcultures, view products and consumer roles differently

What are the difficulties of choosing a global marketing strategy?

inadequate to meet researchers' needs because collected for other purpose, so irrelevant

What are the disadvantages of a census?

expensive and time-consuming

What are the disadvantages of in-depth interviews?

specialty, shopping, convenience, and unsought

What are the four types of consumer products?

geographic, demographic, psychographic, and behavioural

What are the four types of segmentation?

production-oriented era, sales-oriented era, market-oriented era, and value-based marketing era

What are the four ways marketing helps create value?

customer excellence, operational excellence, product excellence, and location excellence

What are the four ways you can develop sustainable competitive advantages?

self-actualization, esteem, love, safety, physiological

What are the levels in Maslow's Hierarchy of Needs from top to bottom?

target market, offering name/brand, product/service category or concept, unique point of differences/benefits

What are the main components of the value proposition?

self-values, self-concept, lifestyles

What are the three components of psychographic segmentation?

planning phase, implementation phase, and control phase

What are the three components of the marketing plan?

goods, services, and ideas

What are the three types of products?

qualitative and quantitative research

What are the two components of primary data collection techniques?

internal and external sources

What are the two components of secondary data?

performance risk, financial risk, social risk, physiological risk, psychological risk

What are the types of actual/perceived risks?

product (features), services (speedy), channels (coverage), people (training staff), image (distinctive values and benefits)

What are the types of differentiation factors?

internal and external locus of control

What are the types of locus of control?

service, packaging, brand name, warranties

What are ways of creating value of products?

site selection, inventory control, warehousing

What are ways of delivering value of place?

store atmosphere; salespeople; crowding; in-store demonstrations; promotions; packaging

What can impact a shopping situation?

dietary tastes and preferences

What can regional culture impact?

up-to-date news about company, products, services, competitors

What can social media gather?

have products identifiable by and relevant to particular group of people

What challenge does culture pose for marketers?

strengths, weaknesses, and reactions to marketing activities

What components should you assess, when evaluating competitors?

offer information and enhance consumer's self-image

What do reference groups do?

satisfying customer needs that match their core competencies

What do successful marketing firms focus on (company capabilities)?

prepare results and present to appropriate decision makers

What do you do in the fifth step of the marketing research process?

wall

What does a competitive advantage act like?

attitudes and perception

What does learning affect?

how attractive particular market is

What does market growth really measure?

weekly consumption by person

What does panel data focus on?

items purchased and responses to survey

What does panel data record?

supply chain management

What does place deal with?

weekly consumption of product in store

What does scanner data focus on?

finding balance of functional and psychological needs that appeal to firm's target markets

What does successful marketing require?

value of research; committed to project and abide by results

What factors should you consider, before conducting market research?

shifting brand preferences, product usage in households

What information does syndicated data provide?

demographics

What is Value and Lifestyle Survey more useful than to predict consumer behaviour?

consistent

What is a component of excellent customer service?

more costly

What is a con of a differentiated targeting strategy?

multi-attribute model

What is an example of a compensatory model?

census

What is an example of an inexpensive external source of secondary data?

milk affects entire industry of milk and provides health benefits to society

What is an example of marketing affecting various stakeholders?

spend more time researching for house than dollhouse

What is an example of perceived benefits vs. costs of search?

if your goal is to belong, then you want to be seen as fun-loving

What is an example of self-concept?

Cheesecake Factory

What is an example of store atmosphere?

CDSTEP

What is another component the SWOT Analysis assesses?

target market and differentiation

What is brand positioning?

reference groups

What is culture similar to?

buyers' remorse

What is postpurchase cognitive dissonance also known as?

identify and develop positioning strategy

What is the fifth step of the STP process?

postpurchase

What is the fifth step of the consumer decision process?

evaluate performance of marketing strategy and take necessary corrective actions

What is the fifth step of the marketing plan?

developing and implementing action plan

What is the fifth step of the marketing research process?

select the position

What is the fifth step of the perceptual map?

define business mission and objectives

What is the first step in the marketing plan?

establish overall strategy/objectives

What is the first step of the STP process?

need recognition

What is the first step of the consumer decision process?

define objectives and research needs

What is the first step of the marketing research process?

determine consumers' perceptions and evaluations of product in relation to competitor's product

What is the first step of the perceptual map?

customer information and purchase history

What is the focus of internal sources of secondary data?

select target market

What is the fourth step of the STP process?

purchase and consumption

What is the fourth step of the consumer decision process?

implement marketing mix using 4 Ps

What is the fourth step of the marketing plan?

analyzing data and developing insights

What is the fourth step of the marketing research process?

determine consumer preferences

What is the fourth step of the perceptual map?

degree of perceived risk associated with purchasing product

What is the length and intensity of search based on?

generalize opinions to describe customers with same characteristics

What is the purpose of a sample?

gather qualitative data about initial reactions to products, opinions about competitive offerings, reactions to marketing stimuli

What is the purpose of focus group interviews?

understand nature of industry, trends, consumer preferences

What is the purpose of in-depth interviews?

figure out how much customers willing to pay to be satisfied, while sellers earn reasonable profit

What is the purpose of pricing?

informs, persuades, and reminds buyers about product or service

What is the purpose of promotion?

use segmentation methods

What is the second step of the STP process?

search for information

What is the second step of the consumer decision process?

assess how other players affect firm's potential of success

What is the second step of the marketing plan?

designing research

What is the second step of the marketing research process?

identify market's ideal points and size

What is the second step of the perceptual map?

monitor the positioning strategy

What is the sixth step of the perceptual map?

evaluate segment attractiveness

What is the third step of the STP process?

evaluation of alternatives

What is the third step of the consumer decision process?

identify and evaluate opportunities by engaging in STP

What is the third step of the marketing plan?

collecting data

What is the third step of the marketing research process?

identify competitor's positions

What is the third step of the perceptual map?

culture, tradition, upbringing, past experiences, attitudes, interests

What makes up perception?

what type of business are we? what do we need to do to accomplish goals and objectives?

What questions does a mission statement ask?

mission/objectives/SWOT

What should the overall strategy/objectives be consistent with?

focus on opportunities that build strengths relative to those of competition

When are firms successful in positioning a product?

research necessary to collect them

When designing research, what should you find?

type of data needed

When designing research, what should you identify?

when consumers engaged in process of information search

When does evaluation of alternatives occur?

consumer perceives purchase as risky

When does extended problem solving occur?

have prior experience or perceived risk is moderate

When does limited problem solving occur?

consumer questions appropriateness of purchase after decision made

When does postpurchase cognitive dissonance occur?

have more access to data; ease of collecting and storing data; manipulating data in real time

Which changes has the field of marketing research seen in the last few years?

ones that respond quickly, accurately, and sensitively to consumers

Which marketers succeed in constantly changing market environment?

observation

Which method determines how customers use products?

expensive, infrequently purchased, don't work as intended, with high levels of risk

Which products is postpurchase cognitive dissonance likely for?

value-based marketing

Which type of marketing provides greater value to consumers than competitors offer?

young consumers

Who are reference groups powerful among?

entrepreneurial start-up ventures

Who benefits from a concentrated targeting strategy?

company, competition, corporate partners, and consumers

Who is a part of the immediate environment?

culture, political/legal, economic, technology, social, demographics

Who is a part of the macroenvironment?

managers

Who is accountable for performance when they can control situation?

non-profit; political parties

Who, other than marketers, use marketing research?

entails actual rather than potential customers

Why are marketers interested in postpurchase?