Chapter 1 (Intro) and 2 (Co.& Mktg. Strategy)
The process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities
strategic planning
Segmentation that uses an event like Easter, that can influence consumers' buying behavior
occasion segmentation
Disadvantages of secondary data
May be old/outdated, not relevant, not obtained properly, etc.
The influence of family members on purchases is an example of this influence of consumer behavior
Social
Types of consumer products that are quick, cheap, available widely, and for which consumers don't make much of an effort comparing brands.
convenience products
Should be market-oriented and defines the business in terms of satisfying basic customer needs
(Good) mission statement
The microenvironmental factor that involves who a company gets raw materials from
suppliers
A research method in which one or more factors (e.g., product color) to observe their effect on something; the only way to prove a causal relationship
experiment
The step of the consumer decision making process in which consumers are weighing various product attributes against competing brands
evaluation of alternatives stage
The step in the new product development process that involves creating a protoype of a product
product development
The orientation that says achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do.
marketing concept or orientation
Using the location of one's home to segment customers is an example of this type of segmentation method
geographic segmentation
The first, and often most difficult, step of the marketing research process
defining the problem and research objectives
Describes the factor influencing consumer behavior that consists of the changes in an individual’s behavior arising from experience; includes theories like classical conditioning.
learning
National brands or manufacturers’ brands that are marketed under the manufacturer’s own name.
Manufacturer's brands
Steps include: Understand the marketplace and customer needs and wants; Design a customer value-driven marketing strategy; Construct an integrated marketing program that delivers superior value.; Engage customers, build profitable relationships, and create customer delight.
the marketing process
This is the fastest changing macroenvironmental factor
technological
The research methodology that consists of having a group of participants answer several questions about their consumption experience
survey
The psychological factor that is defined as the process by which people select, organize, and interpret information to form a meaningful picture of the world
Perception
Brand development strategy that occurs when a company extends existing brand names to new forms, colors, sizes, ingredients, or flavors of an existing product category
Offering new products to new markets
diversification
Providing several different offerings for customers due to slight differences in their preferences is an example of this targeting strategy
differentiated (targeting strategy)
The research methodology that consists of having a group of participants answer several questions about their consumption experience via a moderator in the room
The category of factors such as occupation, age and life cycle, economic situation, lifestyle, personality and self-concept that influence consumer behavior
personal
growth