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Communication Term 333 > Chapter 10 Market > Flashcards

Chapter 10 Market Flashcards

1
Q

Marketing

A

Is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organisational objectives.

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2
Q

Marketing concept

A

Is that a customers needs and wants are met while achieving the businesses objectivities.

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3
Q

Market research

A

Is the process of Systematically collecting, recording and analysing information concerning a specific marketing problem.

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4
Q

Marketing data

A

Are the information usually expressed as facts and figures relevant to the defined marketing problems.

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5
Q

Primary data

A

Are the facts and figures collected from original sources.

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6
Q

Survey

A

Gathers data by asking questions or interviewing people.

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7
Q

Secondary data

A

Refers to information that some other person or organisation has already collected.

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8
Q

Internal data

A

Refers to information that has already been collected from inside the business.

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9
Q

External data

A

Refers to published data from outside the business.

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10
Q

Statistical interpretation analysis

A

Is the process of focusing on the data that represent average, typical or deviations typical patterns.

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11
Q

Market segmentation

A

Occurs when the total market is subdivided into groups who share one or more common characteristics

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12
Q

Target market

A

Is a group of customers with similar characteristics who currently purchase the product or may do so in the future.

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13
Q

Primary target market

A

Is the market segment at which most of the marketing resources are directed.

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14
Q

Secondary target market

A

Is usually a smaller and less important market segment.

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15
Q

Niche market

A

Is a narrowly selected target market segment.

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16
Q

Consumer buying behaviour

A

Refers to the decisions and actions of consumers when they purchase goods and services for personal or household use.

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17
Q

Psychological factors

A

Are influences within an individual that affect his/her buying behaviour.

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18
Q

Motives

A

Are the reasons that individuals do something.

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19
Q

Customer attitude

A

Is a persons overall feelings about an object or activity.

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20
Q

Personality

A

Is the collection of all behaviours and characteristics that make up that person.

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21
Q

Sociocultural influences

A

Are forces exerted by other people that affect customer behaviour.

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22
Q

Peer group

A

Is a group of people with whom a person closely identifies, adopting their attitude, values and beliefs

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23
Q

Culture

A

Is all the learned values, beliefs, behaviours and traditions shared by a society.

24
Q

Market share

A

Refers to the business’s share of the total industry sales for a particular market.

25
Q

Product mix

A

Is the total range of products offered by a business.

26
Q

Customer service

A

Responding to the needs and problems of the customer.

27
Q

Market

A

As the number of all actual and potential buyers of a product.

28
Q

Marketing mix

A

Is the combination of four elements - product, price, promotion and place.

29
Q

Product

A

Is a good or service that can be offered in an exchange for the purpose of satisfying a need or want.

30
Q

Marketing plan

A

A document that lists activities aimed to achieving particular marketing outcomes in relation to a good or service.

31
Q

Product positioning

A

Is the development of a product image compared with the image of competing products

32
Q

Brand

A

Is a name, term, symbol, design or any combination of these that identifies a specific product and distinguishes it from competition

33
Q

Brand name

A

Is that part of the brand that can be spoken

34
Q

Packaging

A

Involves the development of a container and the graphic design for a product

35
Q

Distribution channels

A

Are the routes taken to get the product from the factory to the customer.

36
Q

Non-store retailing

A

Is retailing activity conducted away from the traditional store.

37
Q

E-marketing

A

Is the practice of using the Internet to perform marketing activities.

38
Q

Market coverage

A

Refers to the number of outlets a business chooses for its product

39
Q

Promotion

A

Describes the methods used by a business in inform, persuade and remind a target market about its products.

40
Q

Promotion mix

A

Is the promotion methods a business uses in its promotional campaign. Methods include personal selling, advertising, and publicity and public relations.

41
Q

Personal selling

A

Involves the activities of a sale representative directed to a customer in an attempt to make a sale.

42
Q

Publicity

A

Is any free news story about a business product

43
Q

Public relations

A

Are those activities aimed at creating and maintaining favourable relations between a business and its customers

44
Q

Advertising

A

Is a paid, non-personal message communicated through a mass medium.

45
Q

Advertising

A

Is a paid, non-personal message communicated through a mass medium

46
Q

Advertising media

A

Refers to the many forms of electronic and print communication used to reach an audience.

47
Q

Exports

A

Are goods or services sold by one country to individuals, business or government in another country with the aim extending sales and market penetration

48
Q

Diversification

A

Occurs when business vary their range of products or their field of operations

49
Q

Sale analysis

A

Uses sales data to evaluate the business’s current performance and the effectiveness of marketing mix

50
Q

Marketing profitability analysis

A

Is a method used by the business to break down its total marketing costs into specific marketing activities

51
Q

Social media advertising

A

Is a form of online advertising the uses social media channels to deliver targeted commercial messages to potential customers

52
Q

Reach

A

Of an advertisement measures the number of people exposed to the message

53
Q

Frequency

A

Of an advertisement measures the average number of times someone is exposed to the message

54
Q

Globalisation

A

Is effect of ever more sophisticated communications technology, lower transport costs, and unrestricted trade and financial flows turning the whole world into a single market, producing a more integrated global economic system

55
Q

Materialism

A

Is an individual’s desire to acquire more possessions

56
Q

Product Placement

A

Is the inclusion of product advertising in entertainment

57
Q

Unconscionable Conduct

A

Is any practice by a business that is not reasonable and often illegal

Communication Term 333 (2 decks)

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