SIE CH 12

concentrated strategy

a marketing strategy in which a marketer selects one specific group of consumers and designs a marketing mix specifically for that group

differentiated strategy

a marketing strategy in which a marketer selects two or more distinct groups of consumers and designs specific marketing mixes to meet their needs

undifferentiated strategy

a marketing strategy that uses no segmentation; assumes that all consumers have virtually identical needs and can be reached by the same marketing mix.

open-ended questions

questions that allow the respondents to express themselves as they choose

categorical questions

questions that are answered by selecting the proper category, EX; What is your ethnicity?

scalar questions

questions that are answered by some sort of scale

dichotomous questions

questions that have only two possible choices

survey

a data-collection method using a questionnaire- in person, on phone, on paper, or on the internet.

focus group

a form of data gathering using a small group led by a moderator

marketing plan

a systematic written plan of all phases of marketing for a business, including information on the product, price, distribution, and promotion strategy, as well a clear identification of target market and competition.

bot

a web based program that uses artificial intelligence techniques to automate tasks such as searches.

indirect competition

companies that provide alternatives that are dissimilar to your product/service that consumers might choose to meet a similar need.

ethnographic research

data gathered by simple observation- seeing what customers do, rather than asking them.

secondary research

information already collected for some other purpose than the current problem or questions.

primary research

new information collected to solve a problem at hand or answer current questions.

direct competition

other companies that make a similar product or provide a similar service

marketing research

systematic collection and interpretation of data to support future marketing decisions.

differential advantage

the characteristic that separates one company from another in product, price, promotion, and/or distribution.