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.