Marketing part 1

Customers connect with companies and with each other to help forge and share their own brand experiences

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The portion of the customer's spending in its product categories that a company captures

People born between 1997 and 2012

The stage of the business buying process in which the buyer tries to find the best vendors

Achieving organizational goals depends on knowing the needs and wants of target markets and delivering satisfaction

The four Ps

Brand exchanges created by the customer themselves. By which customers play a role in shaping their own brand experience

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Dividing a market into districts of buyers who have different Neds, characteristics, or behaviors

Evaluating each market segment's attractiveness and selecting one or more segments to serve

The form human needs take as they are shaped by culture and individual personality

Forces that create new technologies, leading to new products and market opportunities

A form of observational research that involves sending observers to watch consumers in their "natural environments"

The stage of the business buying process in which the buyer reviews proposals and selects a supplier or suppliers

The actors and forces outside marketing that affect marketing management's relationship with target customers

Systematic design and execution of initiatives to collect analyse and report data to a specific marketing situation

Some combination of products, services, solutions, and experiences offered to a market to satisfy a need or want

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A person that serves as a point of comparison or reference in shaping a person's attitudes or behavior

Measuring and evaluating the results of marketing strategies and plans and taking corrective action

Designing the market offering to create superior customer value that is distinct from that offered by competitors

The 65 million people born between 1965 and 1980 in the "birth dearth" following the baby boom

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The overall process of building and maintain profitable customer relationships

The process by which people select, organize, and interpret information form a meaningful picture of the world

Consumer buying behavior in situations characterized involvement and few significant perceived differences among brands

Making the brand a meaningful part of customers' conversations and lives by fostering customer involvement

Service are produced and consumed at the same time and cannot be separated from their providers

Marketing research to test hypotheses about cause-and-effect relation

Using online consumer tracking data and analytics to target advertisements and marketing offers to specific consumers

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A fraction of the population selected for marketing research to represent the population as a whole

Company growth by offering modified or new products to current market segments

An overall evaluation of the company's strengths, weaknesses, opportunities, and threats.

The marketing logic by which the company hopes to create customer value and achieve profitable customer relationships

A need that is sufficiently pressing that the person seeks to satisfy it

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systematic monitoring, collection, and analysis of available information about competitors and development in the market

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The actor close to the company that affect its ability to serve its customers

All the individuals and units that play a role in the purchase decision-making process

Are high-growth, high share business or products. They often need heavy investments to finance their rapid growth.

A business buying situation in which the buyer routinely reorders something without modification

People in an organization's buying center who control the flow of information to others

Gathering a small group of people online with a moderator to chat about a product, service, or organization for insight

The stage of the buyer decision process in which the consumer uses information to evaluate alternative brands

A group of consumers who are expected to respond in a similar way to given set of marketing efforts

Gathering primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior

Service cannot be stored for later sale or use

The process of developing a profitable strategic fit between organization's goals and capabilities

Schools, hospitals, nursing homes, prisons, and other institutions that provide goods and services

Are low-share, high-growth markets. They require a lot of cash to hold their share, let alone increase it

A good, service, or idea that is perceived by some potential customers as new

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The act of obtaining a desired object from a person or an organization by offering something in return

The impact of the personal recommendation of trusted friends, family, associates, and other consumers on buying behavior

Laws, government agencies, and pressure groups that influence various organizations and individuals in a given society

Changes in an individual's behavior arising from experience

Dividing a market into different age and life-cycle groups

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Are low-growth, high-share businesses or products. These successful SBUs need less investments to hold their share.

Business demand that ultimately comes from (deprives from) the demand for consumer goods

Company growth by increasing sales of current products to current market segments without changing the product.

low-growth, low-share. They may generate enough cash to just maintain themselves but do not promise to be a cash source

Working closely with partners in other company departments and outside company to jointly bring greater value

Turning marketing strategies and plans into marketing actions to accomplish strategic marketing objective.

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A marketing coverage strategy in which a firm goes after a large share of one or a few segments or niches

Actually differentiating the market offering to create superior customer value relative to the competition.

Company growth through starting up or acquiring businesses outside the company's current products and markets

Inviting a small, carefully chose group of people to meet with a moderator to discuss an exchange views about a product

A descriptive thought that a person holds about something

Developing strategies and practices that create a world economy that the planet cans support indefinitely

Information that already exists somewhere, having been collected for another purpose

A market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market

Dividing a market into different geographical units, such as nations, states, regions, countries, or cities

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The set of strategies and activities by which companies acquire and engage customers, build customer relationships

Are highly loyal but not profitable. Create drag and reduce profitability, if they cannot be made profit of "fire" them

The stage of the buyer decision process in which the consumer is motivated to search for more information

The study of human populations in term of size, density, location, age, gender, race, occupation, other characteristics

Forming segments of consumers who have similar needs and buying behaviors even though they are located in differently

The larger societal forces that affect the microenvironment

Technology by which machines think and learn in a way that looks and feels human but with a lot more analytic capacity

A portfolio planning tool for identifying growth opportunities through market penetration, product development

A consumer product that the consumer either does not know about or knows about but does not normally consider buying. 

Dividing the market into segments according to the different benefits that consumers seek from the product

The process through which an individual passes from first hearing about an innovation to final adoption

Stage of the buyer decision process in which consumers take further actions after purchase based on their satisfaction

A portfolio planning method that evaluates a company's SBUs in terms of market growth rate and relative market share

Human wants that are backed by buying power

Institutions and other forces that affect society's basic values, perceptions, preferences, and behaviors

Dividing the market into segments according to occasions when buyers get the idea to by, actually make their purchase

The stage in the business buying process in which a buyer describes the general characteristics of a need item

Gathering primary data by engaging participants in one-on-one, semi-structured, bur open-ended conversations

The stage of the business buying process in which the buyer invites qualified suppliers to submit proposals.

Show low potential profitability and little projected loyalty. "Don't invest anything in them; try to make money"

The collection of business and products that make up the company

Are potentially profitable but not loyal. "Enjoy it in the moment and create satisfying and profitable transactions"

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People in an organization's buying center who make an actual purchase

The set of perhaps 10 or more brands that consumers begin evaluating in order to generate smaller choice set

An activity, benefit, or satisfaction offered for sale that is essentially intangible and does not result in ownership

Firms that help the company promote, finance, sell, and distribute its goods to final buyers

physical environment and the natural resources that are needed as input by marketers or that affect marketing activities

The psychological characteristics that distinguish a person that are expressed in traits

Anything that can be offered to a market for attention, use, or consumption that might satisfies a want or need

Arranging for a product to occupy a clear, distinctive and desirable place relative to competing products

The value of the entire stream of purchases a customer makes over a lifetime patronage

Purchasing through electronic connections between buyer and sellers - usually online

People in an organization's buying center who affect the buying decision

A market coverage strategy in which a firm targets several market segments and designs separate offers for each

Marketing decisions should consider consumers' wants, consumers' long-run interest and society's long-run intere

Kids born after 2012, largely the children of millennials

Enlisting established influencers or creating new influencers to spread positive information about a company's brands

Gathering primary data by observing relevant people, actions, and situations

Tailoring brands and marketing to the needs and wants of local customer segments

The smaller set of brands that consumers carefully evaluate in order to make their final choice

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People in an organization's buying center who have formal or informal power to select or approve the final suppliers

Dividing a market into different segments based on gender

Economic factors that affect consumers purchasing power and spending patterns

Deep understanding of customers' stated and unstated needs and wants that become the basis for creating value

A global environment where everything and everyone is digitally connected to everything and everyone else

The total combined customer lifetime values of all of the company's customers

States of felt deprivation

The chain that links customer satisfaction and profits for service firms with employee satisfaction. 

A set of buyers who share common needs or characteristics that company decides to serve

Government units - federal, state, and local - that purchase or rent goods and services

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Location-based targeting to consumers in local communities or neighborhoods using digital and social media

Consumers will not buy enough of the firm's products unless the firm undertakes large-scale selling and promotion effort

A product bought by final consumer for personal consumption

The mistake of paying more attention to the specific product a company offers than to the benefits and experiences

The full positioning of a brand - the full mix of benefits on which it is positioned

Information collected for the specific purpose at hand

The way a product is defined by consumers on important attributes - the place it occupies in consumers' minds

Dividing a market into different segments based on lifestyle or personality characteristics

Tailoring products and marketing programs to the needs and preferences of individual customers

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The organization should devote its energy to making continuous product improvements

The quality of services may vary greatly depending on who provides them and when, where, and how they are provided. 

The buyer's decision about which brand to purchase

A business buying situation in which the buyer wants to modify product specifications, prices, terms, or suppliers

Evaluating each market segment's attractiveness and selecting one or more segments to serve

The sense of pleasure a buyer feels when a product's perceived performance matches or exceeds their expectations

Online social communities where people socialize and exchange information and opinions

A group that serves as a point of comparison or reference in shaping a person's attitudes or behavior

A group of people with shared value system based on common life experiences and situations

A market offering with a strong sensory or emotional component that plays out for the customer over time

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Company growth by identifying and developing new market segments for current products.

Collection of consumer and market information obtained from data sources within the company network

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Actions by which satsified customers initiate favorable interactions with others about a brand

Service cannot be seen, tasted, felt, heard, or smelled before they are bought

The set of all product lines and item that a seller offers for sale

A network composed of the company, suppliers, distributors, and customers to improve the performance of the system

The set of all actual and potential buyers of a product or service

The set of internal departments that carry out value-creating activities to design, produce, market firm's products

The first stage of the buyer decision process in which the consumer recognizes a problem or need

A statement of the organization's purpose - what it wants to accomplish in the larger environment

The process by which management evaluates and plans for the future of the products and businesses

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All the individuals and households that buy or acquire goods and services for personal consumption

Dividing a market into segments based on consumer knowledge, attitudes, uses of a product or responses to a product

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A product bought by individuals and organizations for further processing or for use in conducting a business.

The net return from a marketing investment divided by the cost of the marketing investment

Huge and complex data sets generated by sophisticated information generation, collection, storage, analysis technologies

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Buyer discomfort caused by post purchase conflict

The buying behavior of final consumers - individuals and households that buy goods and services for personal consumption

The 73 million children of the baby boomers between 1981 and 1996

Dividing a market into different income segments

Members of the buying organization who will actually use the purchased product or service

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Any group that has an actual or potential interest in or impact on an organization's ability to achieve its objectives.

Designing and producing the container or wrapper of a product

Are both profitable and loyal. "Make continuous relationship investments to delight these customers and engage"

Marketing research to gather preliminary information that will help define the research problems and suggest hypotheses

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Customer's evaluation of differences in benefits delivered by, and costs of obtaining, relative to competing offerings

A business buying situation in which the buyer purchases a product or service for the first time

The set of basic values, perceptions, wants, and behaviors learned by a member of society form family and institutions

Marketing research to better describe market and consumers characteristics

Collecting primary marketing research data through internet and mobile surveys

The businesses that make the company

The set of marketing tools that the firms blends to produce the response it wants in the target market.

The organization should focus on improving production and distribution efficiency

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A person's pattern of living as expressed in his or her activities, interests, and opinions