marketing Flashcards
Marketing Research:
Systematic design, collection, interpretation, and reporting of information to solve marketing problems
Primary Data:
Data collected directly from respondents for a specific research purpose.
Secondary Data:
Data collected for other purposes but used to support marketing research.
Probability Sampling:
A sampling method where every element has a known chance of being selected.
Nonprobability Sampling:
Sampling methods based on the researcher’s judgment or convenience.
Survey Methods:
Techniques for collecting data from respondents, including interviews and questionnaires.
Reliability
The extent to which research consistently produces the same results.
Validity
Validity: The extent to which the research measures what it is supposed to measure.
Reporting Findings
Reporting Findings: The process of summarizing research results in a formal document.
Ethical Standards in Research
Ethical Standards in Research: Considerations for conducting research within ethical boundaries.
Market Segmentation
Market Segmentation: Dividing a market into distinct groups with similar needs.
Heterogeneous Market
Heterogeneous Market: A market composed of individuals with diverse product needs.
Homogeneous Market:
Homogeneous Market: A market segment that shares similar needs for a product.
Market Density
Market Density: The number of potential customers within a unit of land area.
Differentiated Targeting Strategy
Differentiated Targeting Strategy: Targeting multiple market segments with specific marketing mixes.
Concentrated Targeting Strategy
Concentrated Targeting Strategy: Focusing on a single market segment.
Market Segments
Market Segments: Groups within a market that share one or more characteristics.
Segmentation Variables
Segmentation Variables: Characteristics used to divide a market into segments.
Geodemographic Segmentation
Geodemographic Segmentation: Clustering of people based on zip code for marketing purposes.
Benefit Segmentation
Benefit Segmentation: Dividing a market by the different benefits that consumers seek from the product.
Reseller Markets
Reseller Markets: Markets where intermediaries, like wholesalers and retailers, buy products to resell.
B2B Marketing:
B2B Marketing: Marketing products and services directly between businesses.
Producer Markets
Producer Markets: Markets that include industries that buy products to use in producing other products.
Government Markets
Government Markets: Markets encompassing government agencies that procure goods to fulfill their duties.
Institutional Markets
Institutional Markets: Non-profit organizations that purchase goods for operational needs.
Types of Business Purchases
Types of Business Purchases: Including new-task, straight rebuy, and modified rebuy.
Technical Complexity
Technical Complexity: The level of technical knowledge required to understand and use the product.
Demand Fluctuation
Demand Fluctuation: Changes in demand influenced by consumer demand patterns.
Supplier Relationships
Supplier Relationships: The importance of maintaining strong relationships with business customers.
Ethics in B2B Marketing
Ethics in B2B Marketing: The role of ethical behavior in maintaining long-term business relationships.
Global Marketing
Global Marketing: Marketing on an international scale, recognizing the vast potential outside domestic markets.
Exporting
Exporting: Selling domestic products to foreign markets.
Licensing
Licensing: Permitting another company to use a product, brand, or patent in exchange for a fee or royalty.
Importing
Importing: Bringing foreign products into domestic markets.
Franchising
Franchising: Allowing another business to operate using the brand and business model of the franchiser.
Joint Ventures
Joint Ventures: Collaborative ventures between domestic and foreign firms to enter new markets.
Strategic Alliances
Strategic Alliances: Partnerships formed to leverage synergistic opportunities in international markets.
Direct Ownership
Direct Ownership: A firm’s acquisition of foreign firms to establish a direct presence in international markets.
Contract Manufacturing
Contract Manufacturing: Outsourcing production to foreign firms.
Tariffs and Trade Barriers
Tariffs and Trade Barriers: Government-imposed regulations that affect international marketing.
Online Media Characteristics
Online Media Characteristics: Digital media allow for interactive, targeted communication that can be more easily controlled by consumers.
Benefits of Digital Marketing
Benefits of Digital Marketing: Engaging customers interactively and with greater segmentation accuracy.
Consumer-Generated Content
Consumer-Generated Content: The growing importance of user-generated content in marketing strategies.
Privacy Concerns
Privacy Concerns: The ethical and legal considerations in digital marketing, especially related to consumer data.
Intellectual Property
Intellectual Property: Challenges associated with protecting digital content like software, music, and videos.
SEO (Search Engine Optimization)
SEO (Search Engine Optimization): Techniques used to increase the visibility of websites in search engine results.
Mobile Marketing
Mobile Marketing: Marketing strategies specifically designed for mobile devices, including apps and mobile websites.
Social Networks
Social Networks: Using platforms like Facebook and Twitter to engage with customers and promote products.
