Download MARK 3000 Grantham UGA test 2 Study Guide Review and more Study Guides, Projects, Research Marketing in PDF only on Docsity!
1 /
MARK 3000 Grantham UGA test 2 Study Guide Review
1. Marketing Research: set of techniques and principles for systematically collecting, recording, analyzing, and interpreting
data that can aid decision makers involved in marketing goods, services, and ideas
2. Marketing research process: 1. Defining the problem and research objectives
2. Developing the research plan for collecting information
3. Implementing the research plan - collecting and analyzing the data
4. Interpreting and reporting the findings
3. Secondary data: pieces of information that have already been collected from other sources and usually are readily
available
4. primary data: data collected to address specific research needs
5. sample: a group of customers who represent the customers of interest in a research study
6. data: raw numbers or facts
7. information: organized, analyzed, interpreted data that otter value to marketers
8. Syndicated data: Data available for a fee from commercial research firms such as Information Resources Inc. (IRI), National
Purchase Diary Panel, and ACNielsen.
9. Scanner data: a type of syndicated external secondary data used in quantitative research that is obtained from scanner
readings of UPC codes at check-out counters
10. Panel data: information collected from a group of consumers
11. Datawarehouse: large computer files that store millions or even billions of pieces of individual data
2 /
12. data mining: the use of a variety of statistical analysis tools to uncover previously unknown patterns in the data
stored in databases or relationships among variables
13. churn: the number of consumers who stop using a product or service, divided by the average number of
consumers of that product or service
14. big data: data sets that are too large and complex to analyze with conventional data management and data mining
software
15. qualitative research: informational research methods, including observation, following social media sites, in depth
interviews, focus groups, and projective techniques
16. quantitative research: structured responses that can be statistically tested to confirm insights and
hypotheses generated via qualitative research or secondary data
17. observation: an exploratory research method that entails examining purchase and consumption behaviors through
personal or video camera scrutiny
18. virtual community: online networks of people who communicate about specific topics
19. sentiment mining: data gathered by evaluating customer comments posted through social media sites such as
Facebook and Twitter
20. in depth interview: an exploratory research technique in which trained researchers ask questions, listen to and
record the answers, and then pose additional questions to clarify or expand on a particular issue
21. focus group interview: A research technique in which a small group of persons (usually 8 to 12) comes together for
an intensive discussion about a particular topic, with the conversation guided by a trained moderator using an unstructured method of inquiry.
22. survey: a systematic means of collecting information from people that generally uses a questionnaire
23. questionnaire: A form that features a set of questions designed to gather information from respondents and thereby
accomplish the researchers' objectives; questions can be either unstructured or structured.
4 /
37. product mix: the complete set of all products offered by a firm
38. product lines: groups of associated items, such as those that consumers use together or think of as part of a group
of similar products
39. breadth: number of product lines offered by a firm, also known as variety
40. depth: number of categories within a product line
41. brand equity: the set of assets and liabilities linked to a brand that add to or subtract from the value provided by
the product or service
42. brand awareness: Measures how many consumers in a market are familiar with the brand and what it stands
for; created through repeated exposures of the various brand elements (brand name, logo, symbol, character, packaging, or slogan) in the firm's communications to consumers.
43. perceived value: the relationship between a product's or service's benefits and its cost
44. brand association: the mental links that consumer make between a brand and its key product attributes; can
involve a logo, slogan, or famous personality
45. brand loyalty: occurs when a consumer buys the same brand's product or service repeatedly over time rather than
buying from multiple suppliers within the same category
46. manufacturer brands (national brands): brands owned and managed by the same manufac- turer
47. retailer/ store brands: Products developed by retailers. Also called private-label brands.
48. private label brands: Brands developed and marketed by a retailer and available only from that retailer; also called
store brands.
49. family brand: a firm's own corporate name used to brand its product lines and products
50. individual brands: the use of individual brand names for each of a firm's products
5 /
51. brand extension: use of same brand name for new products being introduced to the same or new markets
52. line extension: the use of the same brand name within the same product line and represents an increase in a
product line's depth
53. brand dilution: occurs when a brand extension adversely affects consumer perceptions about the attributes the
core brand is believed to hold
54. co-branding: the practice of marketing two or more brands together, on the same package or promotion
55. brand licensing: a contractual arrangement between firms, whereby one firm allows another to use its brand
name, logo, symbols, or characters in exchange for a negotiated fee
56. brand repositioning: a strategy in which marketers change a brand's focus to target new markets or realign the
brand's core emphasis with changing market preferences
57. primary package: the packaging the consumer uses, such as the toothpaste tube, from which he or she typically
seeks convenience in terms of storage, use, and consumption
58. secondary package: the wrapper or exterior carton that contains the primary package and provides the UPC label
used by retail scanners; can contain additional product information that may not be available on the primary package
59. sustainable packaging: product packaging that is ecologically responsible
60. **the product developing process: step 1: idea generation
step 2: concept testing step 3: product development Step 4: market testing Step 5: product launch step 6: evaluation of results
61. innovation: the process by which ideas are transformed into new products and services that will help firms grow
7 /
71. lead users: innovative product users who modify existing products according to their own ideas to suit their
specific needs
72. concept: brief written description of a product or service; its technology, working principles, and forms; and what
customer needs it would satisfy
73. concept testing: the process in which a concept statement that describes a product or a service is presented to
potential buyers or users to obtain their reactions
74. product development: Also called product design; entails a process of balancing various engineering,
manufacturing, marketing, and economic considerations to develop a product's form and features or a service's features.
75. prototype: the first physical form or service description of a new product, still in rough or tentative form, that has the
same properties as a new product but is produced through ditterent manufacturing processes, sometimes even crafted individually
76. alpha testing: An attempt by the firm to determine whether a product will perform according to its design and
whether it satisfies the need for which it was intended; occurs in the firm's research and development (R&D) department.
77. beta testing: having potential consumers examine a product prototype in a real-use setting to determine its
functionality, performance, potential problems, and other issues specific to its use
78. premarket test: conducted before a product or service is brought to market to determine how many
customers will try and then continue to use it
79. test marketing: introduces a new product or service to a limited geographical area (usually a few cities) prior to
a national launch
80. product life cycle: defines the stages that new products move through as they enter, get established in, and
ultimately leave the marketplace and thereby otters marketers a starting point for their strategy planning
81. introduction stage: stage of the product life cycle when innovators start buying the product
8 /
82. growth stage: stage of the product life cycle when the product gains acceptance, demand and sales increase, and
competitors emerge in the product category
83. maturity stage: stage of the product life cycle when industry sales reach their peak, so firms try to rejuvenate their
products by adding new features or repositioning them
84. decline stage: stage of the product life cycle when sales decline and the product eventually exits the market
85. marketing channel management: also called supply chain management, refers to a set of ap-
proaches and techniques firms employ to efficiently and effectively integrate their suppliers
86. wholesaler: Firm engaged in buying, taking title to, often storing, and physically handling goods in large
quantities, then reselling the goods (usually in smaller quantities) to retailers or industrial or business users.
87. viral marketing program: a promotional strategy that encourages people to pass along a marketing
message to other potential consumers
88. distribution center: a facility for the receipt, storage, and redistribution of goods to company stores or customers;
may be operated by retailers, manufacturers, or distribution specialists
89. fulfillment center: warehouse facilities used to ship merchandise directly to customers
90. direct marketing channel: manufacturer sells directly to the buyer
91. indirect marketing channel: when one or more intermediaries work with manufacturers to provide goods
and services to customers
