General info
What is the process of creating, communicating, and delivering value to customers and managing those relationships in ways that benefit the organization and its employees, customers, investors, and society as a whole.
What is Marketing?
This is a measure of how optimistic consumers are about the overall state of the economy and their own personal finances.
What is consumer confidence?
This is the relatively homogenous groups of consumers that result from a segmentation process.
What are Market Segments?
This is the organizational activity that links the consumer, customer, and public to the marketer through information.
What is Market Research?
This is the specific combination of goods, services, or ideas that a firm offers to its target market.
What is a Product?
What is the perceived benefits, both monetary and nonmonetary, that customers receive from a product compared with the cost associated with obtaining it?
What is customer value?
This is the study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs.
What is Consumer Behavior?
This segmentation group divides markets by characteristics such as age, gender, and income.
What is demographic?
Gathering data about what competitors are doing in the marketplace.
What is Competitive Intelligence?
This technology displaces an established technology and shakes up the industry, or a groundbreaking product that creates a completely new industry.
What is Disruptive Technology?
This document guides the analysis, implementation, and control of the firm's marketing strategy.
What is a Marketing Plan?
When it comes to income distribution, this income class is particularly attractive to marketing professionals.
What are middle-income households?
These are the two most commonly used demographic variables used by marketers.
What are Age and Gender?
This is the use of statistical techniques and algorithms based on patterns of past behavior to predict future buying behavior.
What is Predictive Modeling?
A company can advertise a product as "new and improved" after it hits store shelves for this length of time.
What is 6 months?
This element of the marketing plan helps firms understand where they are currently and how best to move forward.
What is a Situation Analysis?
When evaluating choices, a consumer asking "How do I feel about it?" is using this evaluative criteria.
What is Affective Choice?
When a firm is reasonably certain that its marketing mix can inform consumers about the product, how it adds value to the consumer, and ultimately how to purchase it, then the firm rates favorably on this market segment criteria.
What is Actionable?
Business-to-business firms generally segment their markets according to these three variables.
What are demographic, geographic, and behavioral?
In this stage of the new-product development process a company would use a SWOT analysis and environmental scanning to determine where new products may be able to help strengthen the firm's marketing position.
What is new-product strategy development?
The five key components of the marketing plan.
What are executive summary, situation analysis, marketing strategy, financials, and controls.
Trevor went to the store to get a new pair of running shoes but the store was temporarily out of the brand he normally buys. Trevor has just experienced this.
What is a Stockout?
The group of American households that have between $100,000 and $250,000 in invest-able assets, and are one of the fastest growing segments in the United States is called this.
What is mass affluent?
This study measure how well an advertising campaign meets marketing objectives like increasing market share, generating consumer awareness of a product, or creating a favorable impression of the products.
What is Advertising Effectiveness?
A concept test is part of this stage of the new-product development process.
What is idea screening?