Marketing Test 2
Terms
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- a group to which a person wishes to belong
- aspirational group
- a person's enduring favorable or unfavorable cognitive evaluations, emotional feelings, and action tendencies toward some object or idea
- attitude
- a descriptive thought that a person hold about something
- belief
- the set of beliefs consumers hold about a particular branch
- brand image
- buyer discomfort caused by postpurchase conflict
- cognitive dissonance
- the set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions
- culture
- the stages through which families might pass as they mature
- family life cycle
- two or more people who interact to accomplish individual or mutual goals
- group
- changes in a person's behavior arising from experience
- learning
- a person's pattern of living as expressed in his or her activities, interests, and opinions
- lifestyle
- groups that have a direct influence on a person's behavior and to which a person belongs
- membership groups
- a need that is sufficiently pressing to direct a person to seek satisfaction of that need
- motive (or drive)
- people within a reference group who, because of special skills, knowledge, personality, or other characteristics, exert influence on others
- opinion leaders
- a person's distinguishing psychological characteristics that lead to relatively consistent and lasting responses to his or her environment
- personality
- groups that have a direct (face to face) or indirect influence on a person's attitude or behavior
- reference group
- the activities that a person is expected to perform according to the persons around him or her
- role
- self image, the complex mental pictures people have of themselves
- self-concept
- relatively permanent and order divisions in a society whose members share similar values, interests, and behaviors
- social class
- a group of people with shared value systems based on common life experiences and situations
- subculture
- dividing a market into groups based on customer's knowledge, attitude, use, or response to a product
- behavioral segmentation
- a market that is dived into two major market segments. E.g., in developing countries often a group of high-end hotels exist for international visitors and as a location for social occasions for high-income locals. a group of low-end hotels exist for local
- bifurcated market
- an advantage over competitors gained by offering consumers greater value either through lower prices or by providing more benefits that justify higher prices
- competitive advantage
- leaving buyers with a confused image of a company
- confused positioning
- undifferentiated marketing is more suited for homogeneous products. Products that can vary in design, such as restaurants and hotels, are more suited to differentiations and concentration
- degree of product homogeneity
- dividing the market into groups based on demographic variables such as age, gender, family size, family life cycle, income, occupation, education, religion, race, and nationality
- demographic segmentation
- diving a market into different geographic units such as nations, states, regions, countries, cities, or neighborhoods
- geographic segmentation
- diving a market on the basis or gender
- gender segmentation
- diving a market into different income groups
- income segmentation
- if buyers have the same tastes, buy a product in the same amounts, and react the same way to marketing efforts, undifferentiated marketing is appropriate
- market homogeneity
- formulating competitive positioning for a product and a detailed marketing mix
- market positioning
- diving a market into direct groups of buyers who might require separate products or marketing mixes
- market segmentation
- evaluating each market segment's attractiveness and selecting one or more segments to enter
- market targeting
- giving buyers a too-narrow picture of the company
- over positioning
- diving a market into different groups based on social class, lifestyle, or personality characteristics
- pyschographic segmentation
- price and product features can be used to position a product
- specific product attributes
- failing ever to position the company at all
- underpositioning
- additional consumer services and benefits built around the core and actual product
- augmented products
- the dimension of atmosphere relating to volume and pitch
- aural
- a name, term, sign, symbol, design, or comibation of these elemtns that is intneded to identify th goods or services of a seller and differentiate them from competitors
- brand
- the added value endowed on products and services. it may be reflected in the way consumers think, fell, and act with respect to the brand, as well as in the prices, market share, and profitability the brand commands for the firm
- brand equity
- the process of endowing products and services with the power of a brand. it's all about creating differences between products
- branding
- answers the question of what the buyer is really buying. every product is a package of problem-solving services
- core product
- the period when sales fall off quickly and profits drop
- decline
- when the customer is through using the products and departs
- detachment phase
- the action taken toward a product that may cause harm or customer dissatisfaction
- drop
- those services or goods that must be present for the guest to use the core product
- facilitating products
- the product life cycle stage when a new products sales start climbing quickly
- growth
- the product life cycle when a product is first distributed and made available for purchase
- introduction
- the prodcuct life cycle stage when the customer makes the initial inquiry contact
- joining stage
- the state in a product life cycle when sales growth slows or levels off
- maturity
- the dimension of atmosphere relating to scent and freshness
- olfactory
- the ideal method of removing an unpopular or unprofitable product. it enables a product to be removed in an orderly fashion
- phase-out
- a detailed version of a product idea stated in a meaningful consumer terms
- product concept
- developing the product concept into a physical product to ensure that the product idea can be turned into a workable product
- product development
- envisioning a possible product that company managers might offer to the market
- product idea
- the way that consumers picture an actual or potential product
- product image
- removing a product after existing stock has been depleted; used when sales for an items are low and costs exceed revenues; such as the case of restaurant serving crab meat cocktail with sales of only one ore two items per week
- runout
- extra products offered to add value to the core product and to help differentiate it from the competition
- supporting product
- the dimension of atmosphere relating to softness, smoothness, and temperature
- tactile
- the dimension of atmosphere relating to color, brightness, size, and shape
- visual