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the buying center participant whose views influence other members of the buying center
in making the final decision
influencer
the buying center participant who first suggests buying the particular product/service
initiator
those buyers who want to be the first to have the new product/service
innovators
A characteristic of a service: it is produced and consumed at the same time; that is,
service and consumption are inseparable.
inseparable
services, can't be touched
intangible product offering
a strategy designed to get products into as many outlets as possible
intensive distribution
a group of consumers who respond similarly to a firm's marketing efforts
market segments
The set of institutions that transfer the ownership of and move goods from the point of
production to the point of consumption; consists of all the institutions and marketing
activities in the marketing process.
marketing channel
define the objectives and research needs
designing the research
collecting the data
analyzing the data and developing insights
developing and implementing an action plan
marketing research steps
A paradigm for classifying people's motives. It argues that when lower-level, more basic
needs (physiological and safety) are fulfilled, people turn to satisfying their higher-level
human needs (social and personal)
Maslow's heirarchy of needs
the actual purchase of airtime or print pages
media buy
the combination of the media used and the frequency of advertising in each medium
media mix
the process of evaluating and selecting the media mix that will deliver a clear,
consistent, compelling message to the intended audience
media plan
Refers to when the buyer has purchased a similar product in the past but has decided to
change some specifications, such as the desired price, quality level, customer service
level, options, or so forth.
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modified rebuy
Occurs when there are many firms that sell closely related but not homogeneous
products; these products may be viewed as substitutes but are not perfect substitutes.
monopolistic competition
one firm provides the product or service in a particular industry
monopoly
In a B2B setting, a purchase of a good or service for the first time; the buying decision is
likely to be quite involved because the buyer or the buying organization does not have
any experience with the item.
new buy
an exploratory research method that entails examining purchase and consumption
behaviors through personal or video camera scrutiny
observational study
a type of behavioral segmentation based on when a product or service is purchased or
consumed
occasion segmentation
a type of retailer that offers an inconsistent assortment of merchandise at relatively low
prices
off-price retailers
occurs when only a few firms dominate a market
oligopolistic competition
?
online ads
involves a firm's focus on efficient operations and excellent supply chain management
operational excellence
a strategy used to attract customers to a new product/service
penetration pricing
the relationship between a product's or service's benefits and its cost
perceived value
a characteristic of a service: it cannot be stored for use in the future
perishable
a merchandise display located at the point of purchase, such as at the checkout counter
in a grocery store
point of purchase displays
a competitor-based pricing method by which the firm deliberately prices a product above
the prices set for competing products to capture those consumers who always shop for
the best or for whom price does not matter
premium pricing
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involves the process of defining the marketing mix variables so that target customers
have a clear, distinctive, desirable understanding of what the product does or represents
in comparison with competing products
positioning
Consumer pricing tactic of selling more than one product for a single, lower price than
what the items would cost sold separately; can be used to sell slow-moving items, to
encourage customers to stock up so they won't purchase competing brands, to
encourage trial of a new product, or to provide an incentive to purchase a less desirable
product or service to obtain a more desirable one in the same bundle.
price bundling
