Chapter 7 Terms & One you may not know...but should.
Chapter 8 Terms & another 1 you may not know...but should
Chapter 6, 7 or 8 Questions from Test
Marketing Facts. YOU NEED TO KNOW!
100
FIRST STEP IN PURCHASING PROCESS
What is NEED RECOGNITION
100
The demand for business products
What is Derived Demand
100
a principle holding that 20 percent of all customers generate 80 percent of the demand.
What is the 80/20 principle
100
This is the single largest consumer/customer in the World
What is the U.S. Federal Government.
100
This is the largest Retailer in the World
What is WAL-MART
200
What triggers your senses
What is Stimulus
200
The demand for two or more items used together in a final product.
What is Joint Demand
200
A situation that occurs when sales of a new product cut into the sales of a firm's existing products.
What is Cannibalization
200
When one product puts its brand name on several products.
What is Brand Extensions.
200
A television commercial for a Honda S2000 that makes you want to test drive one is an example of this kind of stimulus? (Hint: its not Internal)
What is External Stimulus
300
The way you would like to be seen
What is Ideal self image.
300
The practice of business purchasers choosing to buy from their own customers.
What is Reciprocity - .
300
Business customers who consider numerous suppliers, both familiar and unfamiliar, solicit bids, and study all proposals carefully before selecting one.
What are Optimizers
300
This is the marketing of goods and services to individuals and organizations for the purposes other than personal consumption.
What is Business Marketing.
300
This is A group of brands, resulting from an information search, from which a buyer can choose.
What is an Evoked Set
400
Processes we use to make purchase decisions, as well as to use and dispose of purchased goods.
What is Consumer Behavior.
400
A cooperative agreement between business firms
What is Strategic allience
400
Business customers who place an order with the first familiar supplier to satisfy product and delivery requirements.
What are Satisfiers.
400
If consumer behavior is not understood, the marketer will have a difficult time creating this...
What is the Marketing Mix.
400
Two (2) digit code used for industry classification
What is NAICS (North American Industry Classification)
500
Inner tension that a consumer experiences after recognizing an inconsistency behavior and values or opinions.
What is Cognitive Dissonance
500
A network of interlocking corporate affiliates.
(HINT - Toyota is considered to be the Masters of this technique)
What is Keirsetsu
500
Developing a specific marketing mix to influence potential customers’ overall perception of a brand, product line or organization in general
What is Positioning
500
Coca Cola offers over a dozen different products to the market based on the diverse customer market. This is an example of what...
What is Market Segmentation.
500
These are the four major categories of customers in business marketing.
What are Producers, Resellers, Government and Institutions.