Ch. 9
People's self-image or _________ is the image people ideally have of themselves.
self-concept
Data in large quanitites.
Volume
Components of a Country Market Assessment
Infrastructure and technology
Governmental actions
Sociocultural analysis
Econominic analysis using metrics
The greater the discreprancy between the desired state and the needy state, the great the WHAT?
need recognition
This step develops different segments which helps firms to better understand the customer profiles.
What are the segments?
Geographic, demographic,
psychographic, benefit, and behavioral.
Marketers can purchase this type of data for a fee?
Syndicated data
Higher level of exports than imports is referred to as what?
a trade surplus
Pretains to the personal gratification
When looking at consumer behavior, often times consumers are divided into groups on the basis of how they use a product or service. What are the two common behavioral measures?
occasion and loyalty
At what point do you decide the type of data needed?
Step 2, Designing the Research
When evaluating the general market economy, this is the most commonly used metric to gauge the size and potential of a market economy.
GDP
Internal conflict that arrises from an inconsistency between two beleifs, or between beliefs and behaviors.
postpurchase cognitive dissonance
SRRPI is how to evaluate sergmentation attractiveness
Substanial
Reachable
Response
Profitable
Identiable
Observation, In-depth interviews, Focus groups
Qualitative research
Review 10.5 Qualitative vs Quantitative
This global entry strategy is formed when a firm entering the market pools its resources with those of a local firm.
Joint venture
Social factors that can influence the consurmer decsion process.
Family
Refernce Groups
Culture
This strategy invovles providing products or services that appeal to multiple segments which helps diversify the businss and therefore lowers the company's overall risk.
Differentiated Target Strategy
The 5 Vs of Big Data
Volume, Variety, Velocity, Veracity, Value
Review 10.10
A theory that states that if the exchange rate of two countries are in equilbrium, a product purchased in one will cost the same if expressed in the same currency.
purchasing power parity
Factors affecting the consumer search process
Preceived Benefits vs Precieved Costs of Search
The Locus of Control
Actual or Precieved Risk