KEYTERM for MARKETING (Midterm

Exam)
Key-words

Chap
ter

Pa
ge

Description

4 Ps of marketing
Actors in the
Microenvironment

1
3

34
93

Adoption process

178

The mental process through which an

individual passes from 1st hearing about
innovation to final adoption.

Alternative
evaluation

177

The stage of the buyer decision process in

which the consumer use to evaluate
alternative brands in the choice set.

Attitude

174

A person's consistently favorable or

unfavorable evaluations, feelings, and
tendencies toward an object or idea.

Baby Boomers

96

Barnacles
Belief

1
5

44
173

Brand personality

169

Business buyer
behavior
Business buying
process
Bussiness markets

190

190

96

Butterflies
Buyer Decision
Process
Buyers
Buying center
Causal research

1
5

44
176

6
6
4

194
194
129

Cause-Related
Marketing

109

Product, price, place, promotion

Figure 3.1

The 78 million people born during the year

following World War II and lasting until
1964
Highly loyal but not very profitable
A descriptive thought that a person hold
about something.
The specific mix of human traits that may
be attributed to a particular brand.

Buy goods and services for further

processing or use in their production
processes.
Potentially profitable but not loyal
Figure 5.6

Marketing research to test hypotheses

abou cause - effect relationships.

Citizen-action publics

95

A company's marketing decisions may be

questioned by consumer organizations,
environmental groups, minority groups,
and others. Its public relations department
can help it stay in touch with consumer
and citizen groups.
Offer member special benefits and create
member communities.

Club marketing
programs

36

Cognitive disonance

178

Competitive
marketing
intelligence

127

Competitors

94

Complex buying
behavior

174

Considerations
Underlying the
Societal Marketing
Concept
Consumer buyer
behavior

34

158

The buying behavior of final consumersindividuals and households that buy goods
and services for personal consumption.

Consumer market

158

All the individuals and households that buy

or acquire goods and services for personal
consumption.

Consumer markets

96

Consumer-generated
marketing

40

Cross-cultural
marketing

162

Consist of individuals and households that

buy goods and services for personal
consumption.
Brand exchanges created by consumers
themselves - both invited and uninvited by which consumers are playing an
incrasing role in shaping their own brand
experiences and those of other consumers.
The practice of including ethnic themes
and cross-culture perspectives within their
mainstream marketing.

Cultural environment

110

Buyer discomfort caused by postpurchase

conflict.
The systematic collection and analysis of
publicly available information about
consumers, competitors, and
developments in the marketing
environment.
Firms must gain strategic advantage by
positioning their offerings against
competitors' offerings.
Consumer buying behavior in situations
characterized by high consumer
involvement in a purchase and significant
perceived differences among brands
Figure 1.4

Instituition and other forces that affect

society's basic values, perceptions,
preferences, and behaviors.

Culture

160

Customer equity

43

Customer insights

125

Customer lifetime
value

42

Customer
relationship
management

34

Customer
relationship
management (CRM)

141

Customer
satisfaction

35

Customer-driven
Company

33

Customer-driven
marketing

33

Customer-managed
relationships

39

Customer-perceived
value

35

Deciders
Demands

6
1

194
28

Demographic
environment

96

The set of basic values, perceptions,

wants, and behaviors learned by a member
of society from family and other important
instituitions
The total combined customer lifetime
values of all of the company's customers.
Fresh understandings of customers and the
marketplace derived from marketing
information that become the basis for
creating customer value value and
relationships.
The value of the entire stream of
purchases a customer makes over a
lifetime of patronage.
The overall process of building and
maintaining profitable customer
relationships by delivering superior
customer value and satisfaction.
Managing detailed information about
individual customers and carefully
managing customer touch points to
maximize customer loyalty.
The extent to which a product's perceived
performance matches a buyer's
expectattions.
Resesrch customers' stated desires and
obvious needs
Understanding customer needs even better
than customers themselves do and
creating products and services that meet
both existing and latent needs, now and in
the future.
Marketing relationships in which
customers, empowered by today's new
digital technologies, interact with
companies and with each other to shape
their relationships with brands.
The customer's evaluation of the difference
between all the benefits and all the costs
of a marketing offer relative to those of
competing offers.
Human wants that are backed by buying
power.
Involves people, and people make up
markets.

Demographic trends

96

shifts in age, family structure, geographic

population, educational characteristics,
and population diversity.

Demography

96

The study of human populations in terms

of size, density, location, age, gender,
race, occupation, and other statistics.

Derived demand

191

Business demand that ultimately comes

from the demand for consumer goods

Descriptive research

129

Developing
economies

103

Marketing research to better describe

marketing problems, situations, or
markets, such as the market potential for a
product or a demographics and attitudes of
consumers.
Offer outstanding marketing opportunities
for the right kinds of products.

Dissonance reducing buying

behavior
Economic
environment

175

103

Economic factors that effect consumer

purchasing power and spending patterns

Environmental
sustainability

105

Developing strategies and practices that

create the world economy that the planet
can support indefinitely.

E-procurement
Ethnographic
research

6
4

199
132

Exchange

29

Expanded Model of
the Marketing
Process
Experimental
research

50

133

Exploratory research

129

Factors Influencing
Consumer Behavior

159

A form of observational research that

involves sending trained observers to
watch and interact with consumers in their
"natural environment".
The act of obtaining a desired object from
someone by offering sth in return.
Figure 1.6
Gathering primary data by selecting
matched groups of subjects, giving them
different treatments, controlling related
factors, and checking for differences in
group responses.
Marketing research to gather preliminary
information that will help define problems
and suggest hypotheses.
Figure 5.2

Financial
intermediaries

94

Financial publics

95

Focus group
interviewing

134

Frequency marketing
program

36

Gatekeepers
General need
description
General public

6
6

194
198

95

Generation X

99

Generation Y

100

Generational
Marketing
Government markets

100

96

Government markets
Government publics

6
3

203
95

Group

162

Group interviewing
Habitual buying
behavior

4
5

134
175

Include banks, credit companies, insurance

companies, and other businesses that help
finance transactions or insure against the
risks associated with the buying and selling
of goods.
This group influences the company's ability
to obtain funds. Banks, investment
analysts, and stockholders are the major
financial publics.
Personal interviewing that involves inviting
6 to 10 people to gather for a few hours
with a trained interviewer to talk about a
product, service, or organization. Th
interviewer "focuses" the group discussion
on important issues.
Reward customers who buy frenquently or
in large amount.

A company needs to be concerned about

the general public's attitude toward its
products and activities. The public's image
of the company affects its buying.
The 49 million people born between 1965
and 1976 in the "birth dearth" following
the baby boom
Millennials

Consist of government agencies that buy

goods and services to produce public
services or transfer the goods and services
to other who need them.
Management must take government
developments into account. Marketers
must often consult the company's lawyers
on issues of product safety, truth in
advertising, and other matters.
Two or more people who interact to
accomplish individual or mutual goals.

Immersion groups

134

Small groups of consumers who interact

directly and informally with product
designers without a focus group moderator
present.

Individual
interviewing
Industrial economies

134

103

Influencers
Information search

6
5

194
176

Institutional market
Integrated marketing
program

202

Internal databases

126

Internal publics

95

International markets

96

Internet

47

Interpretive
consumer research

172

Learning

173

Changing in an individual's behavior

arising from experience.

Lifestyle

169

A person's pattern of living as expressed in

his or her activities, interests and opinions.

Local publics

95

Constitute rich markets for many different

kinds of goods.
The stage of the buyer decision process in
which the consumer is motivated to search
for more information.
communicates and delivers the intended
value to chosen customers
Electronic collections of consumer and
market information obtained from data
sources within the company network.
This group includes workers, managers,
volunteers, and the board of directors.
Large companies use newsletters and
other means to inform and motivate their
internal publics. When employees feel
good about the companies they work for,
this positive attitude spills over to the
external publics.
Consist of these buyers in other countries,
including consumers, producers, resellers,
and governments.
A vast public web of computer networks
that conect users of all types all around the
world to each other and to an amazingly
large information repository.

This group includes neighborhood

residents and community organizations.
Large companies usually create
departments and programs that deal with
local community issues and provide
community support.

Macroenvironment

93

The larger societal forces that affect the

microenvironment-demographic,
economic, natural, technological, political,
and cultural forces.

Mail questionnaires
Major American
Social Classes

4
5

133
163

Figure 5.3

Major forces in the

company's
macroenvironment

96

Figure 3.2

Major Influences on
Business Buyer
behavior
Market

195

Figure 6.2

29

The set of all actual and potential buyers of

a product or services

Market segmentation

31

Marketing

27

Marketing concept

32

Marketing
environment

92

Divide the market into segments of

customers
The process the process by which
companies create value for customers and
build strong customer relationships in
order to capture value from customers in
return.
A philosophy in which achieving
organizational goals depends on knowing
the needs and wants of target markets and
delivering the desired satisfactions better
than competitors do.
The actors and forces outside marketing
that affect marketing management's ability
to build and maintain successful
relationships with target customers.

Marketing
information system
(MIS)

125

Marketing
information system
(MIS)
Marketing
intermediaries

126

94

Marketing
Management

30

People and procedures dedicated to

assessing information needs, developing
the needed information, and helping
decision makers to use the information to
generate and validate actionable customer
and market insights
Figure 4.1
Firms that help the company to promote,
sell, and distribute its goods to final
buyers.
The art and science of choosing target
markets and building profitable
relationships with them.

Marketing mix

34

The set of marketing tools the firm uses to

implement its marketing strategy.

Marketing myopia

29

Marketing offering

28

The mistake of paying more attention to

the specific products a company offers
than to the benefits and experiences
produced by these products
Some combination of products, services,
information, or experiences offered to a
market to satisfy a need or a want.

Marketing Process
Marketing research

1
4

27
128

Figure 1.1
The systematic design, collection, analysis,
and reporting of data relevant to a specific
marketing situation facing an organization.

Marketing Research
Process

129

Figure 4.2

Marketing services
agencies

94

Maslow's Hierachy of
Needs

172

Media publics

95

This group carries news, features, and

editorial opinion. It includes newspaper,
magazines, television stations, and blogs
and other Internet media.

Microenvironment

93

Millennials

100

The actors close to the company that

affect its ability to serve its customers-the
company, suppliers, marketing
intermediaries, customer markets,
competitors, and publics.
The 83 million children of the baby
boomers born btw 1977 and 2000.

Model of Business
Buyer behavior

192

Figure 6.1

Model of Buyer
Behavior
Modern Marketing
System

159

Figure 5.1

30

Figure 1.2

Modified rebuy
Motivation research

6
5

193
172

The marketing research firms, advertising

agencies, media firms, and marketing
consulting firms that help the company
target and promote its products to the
right markets.
Figure 5.4

Refers to qualitative research designed to

probe consumers' hidden, subconcious
motivations.

Motive

171

A need that is sufficiently pressing to direct

the person to seek satisfaction of the need.

Natural environment

104

Need recognition

176

Needs
Netnography
research

1
4

28
132

The physical environment and the natural

resources that are needed as inputs by
marketers or that are affected by
marketing activities.
The 1st stage of the buyer decision
process, in which the consumer recognizes
a problem or need.
States of felt deprivation
Observing consumers in a natural context
on the internet.

New product

178

New task
Observational
research

6
4

193
131

Online focus group

136

Online marketing
research

135

Online social
networks

164

Online social communities - blogs, social

networking Web sites, and other online
communities - where people socialize or
exchange information and opinions

Opinion leader

163

A person within a reference group who,

because of special skills, knowledge,
personality and other characteristics,
exerts social influence on others.

Order - routine
specification

199

Partner relationship
management

41

Perception

172

Performance review
Personal interviewing

6
4

199
134

A good, service, or idea that is perceived

by some potential customers as new.
Gathering primary data by observing
relevant people, actions and situations.
Gathering a small group of people online
with a trained moderator to chat about a
product, service, or organization and gain
qualitative insights about consumer
attitudes and behavior.
Collecting primary data online through
Internet surveys, online focus groups, Webbased experiments, or tracking consumers'
online behavior.

Working closely with partners in other

company departments and outside the
company to jointly bring greater value to
customers.
The process by which people select,
organize and interpret information to form
a meaningful picture of the world.

Personality

169

Physical distribution
firms

94

Political environment

107

Postpurchase
behavior

178

Primary data

130

Problem recognition
Product concept

6
1

197
32

Product specification
Production Concept

6
1

198
31

Proposal solicitation
Public

6
3

198
95

Purchase decision

177

Qualitative Internetbased research

136

Quantitative research
Research
Instruments
Reseller markets
Resellers

4
4

135
139

3
3

96
94

Sample

137

The unique psychological characteristics

that distinguish a person or group.
Help the company stock and move goods
from their points of origin to their
destinations.
Laws, government agencies, and pressure
groups that influence and limit various
organizations and individuals in a given
society.
The stage of buyer decision process in
which consumers take further action after
purchase, based on their satisfaction or
dissatisfaction.
Information collected for the specific
purpose at hand.
The idea that consumers will favor
products that offer the most quality,
performance, and features; therefore, the
organization should devote its energy to
making continuous product improvement.
The idea that consumers will favor
products that are available and highly
affordable; therefore, the organization
should focus on improving production and
distribution efficiency.
Any group that has an actual or potential
interest in or impact on an organization's
ability to achieve its objectives.
The buyer's decision about which brand to
purchase.

Buy goods and services to resell at a profit.

Distribution channel firms that help the
company find customers or make sales to
them, including wholesalers and retailers
who buy and resell merchandise.
A segment of the population selected for
marketing research to represent the
population as a whole.

Secondary data

130

Information that already exists somewhere,

having been collected for another purpose.

Selective attention

173

Selective distortion

173

The tendency for people to screen out

most of the information to which they are
exposed - means that marketers must
work especially hard to attract the
consumer's attention.
Describes the tendency of people to
interpret information in the way that will
support what they already believe.

Selective retention

173

Selling and Marketing

Concept Contrasted

32

Selling concept

32

Share of customer

42

Shared value

33

The concept of shared value focuses on

creating economic value in a way that also
creates value for society.

Social class

162

Relative permanent and ordered divisions

in a society whose members share family
values, interests, and behaviors.

Socially Responsible
Behavior

109

Societal marketing
concept

33

Stages of the
Business Buying
Process
Straight rebuy
Strangers

198

6
1

193
44

Subculture

160

Subliminal
advertising

173

Consumers are likely to remember good

points made about the brand they favor
and forget good points made about
competing brands.
Figure 1.3
The idea that consumers will not buy
enough of the firm's products unless the
firm undertakes a large-scale selling and
promotion effort.
The portion of customer's purchasing that
a company gets in its product categories.

The idea that a company's marketing

decisions should consider consumers'
wants, the company's requirements,
consumers' long-run interests, and
society's long-run interests.
Figure 6.3

Low potential profitability and little

projected loyalty,
A group of people with shared value
systems based on common life
experiences and situations

Subsistence
economies

103

They consume most of their own

agriculture and industrial output and offer
few market opportunities.

Supplier
development
Supplier search
Supplier selection
Suppliers

192

6
6
3

198
198
93

Survey research

132

Gathering primary data by asking people

questions about their knowledge, attitudes,
preferences, and buying behavior.

Sustainable
marketing

33

Socially and environmentally responsible

marketing that meets the present needs of
consumers and businesses while also
preserving or enhancing the ability of
future generations to meet their needs.

System selling
Target marketing
Technology
environment

6
1
3

193
31
106

Telephone
interviewing
The company

134

93

Marketers must work in hormony with

other company departments to create
value and relationships.

True believers

44

Come back regularly and tell others about

their good experiences with the company.

True friends
Users
Value proposition

1
6
1

44
194
31

Variety - seeking
buying behavior

175

Wants

28

Word-of-mouth
influence

163

In creating value for customers, marketers

must partner with other firms in the
company's value delivery network.

Select which segments it will go after

Forces that create new technologies,
creating new product and market
opportunities.

Both profitable and loyal

The set of benefits or values the brand
promises to deliver to consumers to satisfy
their needs

the form human needs take as they are

shaped by culture and individual
personality
The impact of personal words and
recommendations of trusted friends,
associates, and other consumers on buying
behaviors.