Marketing basics
Consumer Behavior
Objectives & Strategy
100
A(n) ________ is a road map for the marketing activities of an organization for a specified future time period, such as one year or five years.
Marketing Plan
100
Marriage, Parenting, Children, Teenagers, Family, Empty Nesters, and Retirement.
Stages of the Family Life Cycle
100
The collection, recording, and analysis of information to aid in making marketing decisions
Marketing Research
200
The era that believed that consumer satisfaction is the central focus of business is called:
The Marketing era
200
Refers to the extent to which firms exploit opportunities, neutralize threats, and reduce expenses relative to the competition.
Competitive Advantage
200
A portfolio-planning model based on the premise that an organization’s products or services can be classified into four categories in relation to its largest competitor. The four categories are based on combinations of market growth and market share.
Boston Consulting Group Growth-Share Matrix (BCG Matrix)
300
The type of market segmentation that breaks down the population by age, income, ethnicity and gender is called:
Demographic segmentation
300
Need identification, gathering of information, assessment of alternatives, the purchase decision, and post-purchase behavior
Stages of Purchasing Decision Process
300
A tool that uses two or three variables to graph the position of a brand in comparison to its competitors based upon consumer perceptions.
Perceptual Map
400
The group of consumers most likely to purchase an organization's goods and service is called the:
Target market
400
A group of similar products that may be sold to the same market segment or to different market segments to meet similar needs.
A product line
400
Business professionals now realize that actual value is less important than what kind of value?
What is Perceived value
500
The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
Marketing
500
The way in which consumers receive, understand, and retain information
Selective perception
500
Gathering of information in a structured way to answer marketing research questions
Data collection
600
Sponsoring a community event, creating print or broadcast advertising, or distributing a direct mail campaign
Examples of traditional marketing activities
600
Selective exposure, selective attention, and selective retention
The three specific filters of selective perception
600
A framework that matches market segments and their relative size on one side of a table to products offered on the other side in order to spot underserved needs.
The market-product grid
700
Examines the effect of marketing in the context of the external environment
Macro marketing
700
A product in the growth stage is experiencing periods of:
Rising sales and profits
700
Developing a marketing mix (product, price, place, promotion, people, processes, and physical evidence) that satisfies a target market and creates "top of mind" awareness for the product, service, or brand.
Positioning
800
This era (1920 - 1960) was defined by having more goods than there were customers. Companies hired salespeople to actively promote products and find buyers.
The Sales Era
800
Cohort born 1946 to 1964
Baby Boomers
800
The process that establishes marketing objectives and has measurement tools in place for analysis to measure actual performance and to allow for adjustments where needed.
Control
900
A market of many sellers with similar products
Pure competition
900
Purchases that involve previously purchased goods or services that are subjected to some significant change, typically involving pricing or volume.
Modified rebuy
900
helps marketers define their growth strategies into four key quadrants: market penetration, product development, market development, and diversification 
The Ansoff Matrix
1000
A long-term strategy that touches on each stage of the customer cycle. Relationship marketing activities include soliciting feedback and testimonials from current customers, developing a loyalty program that rewards customers, emailing prospective clients, or meeting with current customers or prospective clients face-to-face.
Relationship Marketing
1000
Studying the various reasons why personal, situational, psychological, and social interactions affect how people shop for products, use them, and potentially replace them.
Consumer buying behavior.
1000
Provides a sense of where an organization sits related to the quality and relevance of its products, where it stands against its competitors, and where the market itself is going; a thorough situation analysis involves an accurate assessment of internal and external factors.
Situation Analysis