Chapter 6
A strategy in which an organization designs a single marketing mix and directs it at the entire market for a particular product
What is an Undifferentiated Targeting Strategy
A five-stage purchase decision process that includes problem recognition, information, search, evaluation of alternatives, purchase and post purchase evaluation
What is the Consumer Buying Decision Process
Individuals and business organizations that purchase products to make profits by using them to produce other products or using them in their operation
What is Producer Markets
Developing and performing marketing activities across national boundaries
What is International Marketing
Electronic Media that function using digital codes...media available via computers, cellular phones, smartphones and other digital devices that have been released in recent years
What is Digital Media
The process of dividing a total market into groups consisting of people or organizations which relatively similar product needs in order to design a marketing mix that matches those needs
What is Market Segmentation
An unplanned buying behavior, involving no conscious planning, resulting from a powerful urge to buy something immediately
What is Impulse Buying
Organizations with charitable, educational, community or other nonbusiness goals
What is Institutional Markets
The difference in value between a nation's exports and its imports
What is Balance of Trade
The use of all digital media, including the internet and mobile and interactive channels, to develop communcation and exchanges with customers.
What is Digital Marketing
The total amount of a product that customers will purchase within a specified period at a specific level of industry-wide marketing activity
What is Market Potential
An individual's degree of interest in a product and the importance of the product to that person
What is the Level of Involvement
An organization's initial purchase of an item to be used to perform a new job or solve a new problem
What is a New-Task Purchase
Selling products at unfairly low prices
What is Dumping
The strategic process of distributing, promoting and pricing products and discovering the desires of customers using digital media and digital marketing
What is Electronic Marketing or E-Marketing
The amount of a product a company expects to sell during a specific period at a specified level of marketing activity
What is Sales Forecasting
The five levels of needs that humans seek to satisfy, from most to least important
What is Maslow"s Hierarchy of Needs
A new-task purchase that is changed on subsequent orders or when the requirements of a straight rebuy purchase are modified
What is a Modified Rebuy Purchase
The sale of products to foreign markets
What is Exporting
A website where users can create a profile and interact with other users, post information, and engage in other forms of web-based communication
What is Social Networking
Making a product available to buyers in one or more test areas and measuring purchases and consumer responses to marketing efforts
What is Market Testing
A member of an informal group who provides information about a specific topic to other group members
What is an Opinion Leader
An evaluation of each component of a potential purchase
What is Value Analysis
Partnerships that are formed to create a competitive advantage on a worldwide basis
What are Strategic Alliances
Any attempt to conduct dishonest activities online, including deceiving consumers into releasing personal information
What is Online Fraud