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Business Law > marketing > Flashcards

marketing Flashcards

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1
Q

Marketing Research:

A

Systematic design, collection, interpretation, and reporting of information to solve marketing problems

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2
Q

Primary Data:

A

Data collected directly from respondents for a specific research purpose.

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3
Q

Secondary Data:

A

Data collected for other purposes but used to support marketing research.

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4
Q

Probability Sampling:

A

A sampling method where every element has a known chance of being selected.

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5
Q

Nonprobability Sampling:

A

Sampling methods based on the researcher’s judgment or convenience.

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6
Q

Survey Methods:

A

Techniques for collecting data from respondents, including interviews and questionnaires.

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7
Q

Reliability

A

The extent to which research consistently produces the same results.

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8
Q

Validity

A

Validity: The extent to which the research measures what it is supposed to measure.

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9
Q

Reporting Findings

A

Reporting Findings: The process of summarizing research results in a formal document.

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10
Q

Ethical Standards in Research

A

Ethical Standards in Research: Considerations for conducting research within ethical boundaries.

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11
Q

Market Segmentation

A

Market Segmentation: Dividing a market into distinct groups with similar needs.

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11
Q

Heterogeneous Market

A

Heterogeneous Market: A market composed of individuals with diverse product needs.

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12
Q

Homogeneous Market:

A

Homogeneous Market: A market segment that shares similar needs for a product.

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13
Q

Market Density

A

Market Density: The number of potential customers within a unit of land area.

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14
Q

Differentiated Targeting Strategy

A

Differentiated Targeting Strategy: Targeting multiple market segments with specific marketing mixes.

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15
Q

Concentrated Targeting Strategy

A

Concentrated Targeting Strategy: Focusing on a single market segment.

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16
Q

Market Segments

A

Market Segments: Groups within a market that share one or more characteristics.

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17
Q

Segmentation Variables

A

Segmentation Variables: Characteristics used to divide a market into segments.

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18
Q

Geodemographic Segmentation

A

Geodemographic Segmentation: Clustering of people based on zip code for marketing purposes.

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19
Q

Benefit Segmentation

A

Benefit Segmentation: Dividing a market by the different benefits that consumers seek from the product.

20
Q

Reseller Markets

A

Reseller Markets: Markets where intermediaries, like wholesalers and retailers, buy products to resell.

20
Q

B2B Marketing:

A

B2B Marketing: Marketing products and services directly between businesses.

21
Q

Producer Markets

A

Producer Markets: Markets that include industries that buy products to use in producing other products.

22
Q

Government Markets

A

Government Markets: Markets encompassing government agencies that procure goods to fulfill their duties.

23
Q

Institutional Markets

A

Institutional Markets: Non-profit organizations that purchase goods for operational needs.

24
Q

Types of Business Purchases

A

Types of Business Purchases: Including new-task, straight rebuy, and modified rebuy.

25
Q

Technical Complexity

A

Technical Complexity: The level of technical knowledge required to understand and use the product.

26
Q

Demand Fluctuation

A

Demand Fluctuation: Changes in demand influenced by consumer demand patterns.

27
Q

Supplier Relationships

A

Supplier Relationships: The importance of maintaining strong relationships with business customers.

28
Q

Ethics in B2B Marketing

A

Ethics in B2B Marketing: The role of ethical behavior in maintaining long-term business relationships.

29
Q

Global Marketing

A

Global Marketing: Marketing on an international scale, recognizing the vast potential outside domestic markets.

30
Q

Exporting

A

Exporting: Selling domestic products to foreign markets.

31
Q

Licensing

A

Licensing: Permitting another company to use a product, brand, or patent in exchange for a fee or royalty.

31
Q

Importing

A

Importing: Bringing foreign products into domestic markets.

32
Q

Franchising

A

Franchising: Allowing another business to operate using the brand and business model of the franchiser.

33
Q

Joint Ventures

A

Joint Ventures: Collaborative ventures between domestic and foreign firms to enter new markets.

34
Q

Strategic Alliances

A

Strategic Alliances: Partnerships formed to leverage synergistic opportunities in international markets.

35
Q

Direct Ownership

A

Direct Ownership: A firm’s acquisition of foreign firms to establish a direct presence in international markets.

36
Q

Contract Manufacturing

A

Contract Manufacturing: Outsourcing production to foreign firms.

37
Q

Tariffs and Trade Barriers

A

Tariffs and Trade Barriers: Government-imposed regulations that affect international marketing.

38
Q

Online Media Characteristics

A

Online Media Characteristics: Digital media allow for interactive, targeted communication that can be more easily controlled by consumers.

39
Q

Benefits of Digital Marketing

A

Benefits of Digital Marketing: Engaging customers interactively and with greater segmentation accuracy.

40
Q

Consumer-Generated Content

A

Consumer-Generated Content: The growing importance of user-generated content in marketing strategies.

41
Q

Privacy Concerns

A

Privacy Concerns: The ethical and legal considerations in digital marketing, especially related to consumer data.

42
Q

Intellectual Property

A

Intellectual Property: Challenges associated with protecting digital content like software, music, and videos.

43
Q

SEO (Search Engine Optimization)

A

SEO (Search Engine Optimization): Techniques used to increase the visibility of websites in search engine results.

44
Q

Mobile Marketing

A

Mobile Marketing: Marketing strategies specifically designed for mobile devices, including apps and mobile websites.

45
Q

Social Networks

A

Social Networks: Using platforms like Facebook and Twitter to engage with customers and promote products.

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