brand A name, term, symbol, design, or combination thereof that identifies a seller’s products and differentiates them from competitors’ products. brand name That part of a brand that can be spoken, including letters, words, and numbers. brand mark The el
of goods and services to
individuals and organizations
for purposes other than personal
U.S. business marketers
acquisition (62 percent), creating
brand awareness (19 percent), and
customer retention (12 percent).1
exchange of goods, services, and
information between organizations.
recently are more likely to purchase again in the near future than customers who haven’t
purchased for a while.
are definitely more likely to repeat their purchasing behavior in the future.
customers for a business.
effectiveness; calculated by
multiplying the frequency of visits
times the duration of a visit times
the number of pages viewed during
each visit (site reach).
Stickiness = Frequency × Duration × Site Reach
such as wholesalers or distributors from a marketing channel. A prime example of
disintermediation is Dell, Inc., which sells directly to business buyers and consumers.
Large retailers such as Wal-Mart use a disintermediation strategy to help reduce costs
of an intermediary between producers and users. They realized that providing
direct online purchasing only was similar to having only one store in a city selling a
that entails seeking and establishing ongoing partnerships
between business firms. Strategic alliances can take the form of licensing or distribution
agreements, joint ventures, research and development consortia, and partnerships.
relationship with another firm is so
important that the relationship
warrants maximum efforts at
maintaining it indefinitely.
The condition that exists when
one party has confidence in an
exchange partner’s reliability and
and dependence on, another
a keiretsu, executives may sit on the boards of their customers or their
governments, and institutions.
buy business goods and incorporate
them into the products that they
produce for eventual sale to other
producers or to consumers.
purchasers choosing to buy from
their own customers
who become involved in the
with (2) needs or wants and with (3) the ability and (4) the willingness to buy. A group of
people or an organization that lacks any one of these characteristics is not a market.
one or more characteristics that cause them to have similar product needs.
into meaningful, relatively similar,
and identifiable segments or groups.
than single-variable segmentation.
personality, motives, lifestyles, and
neighborhood lifestyle categories.
into market segments according
to the benefits they seek from the
order with the first familiar supplier
to satisfy product and delivery
numerous suppliers, both familiar
and unfamiliar, solicit bids, and
study all proposals carefully before
for which an organization designs,
implements, and maintains a
marketing mix intended to meet the
needs of that group, resulting in
mutually satisfying exchanges.
the market as one big market with
no individual segments and thus
uses a single marketing mix.
segment of a market for targeting
of a new product cut into sales of a
firm’s existing products.
that utilizes customer information to
build long-term, personalized, and
profitable relationships with each
mix to influence potential customers’
overall perception of a brand,
product line, or organization in
group of products occupies in
consumers’ minds relative to
in two or more dimensions, the
location of products, brands, or
groups of products in customers’
attribute, product feature, or customer benefit.
Kleenex has designed a tissue that contains substances
to kill germs in an effort to differentiate its
product from competing tissues
some firms use to distinguish their
products from those of competitors.
depends on four basic criteria
have enough potential customers to be viable; (2) a market segment must be identifiable
and measurable; (3) members of a market segment must be accessible to
marketing efforts; and (4) a market segment must respond to particular marketing
efforts in a way that distinguishes it from other segments.
(2) choosing a basis or bases for segmenting the market; (3) selecting segmentation
descriptors; (4) profiling and evaluating segments; (5) selecting target markets;
and (6) designing, implementing, and maintaining appropriate marketing mixes.
markets using three different strategies:
assumes that all members of a market have similar needs that can be met with a single marketing mix. A concentrated targeting strategy focuses all marketing efforts on a single market segment. Multisegment targeting is a strategy that uses
two or more marketing mixes to target two or more market segments.
computerized file of customers’
and potential customers’ profiles
and purchase patterns.
and analyzing data relevant to a marketing decision
needed and how that information
can be obtained efficiently and
solve a marketing research problem;
the objective should be to provide
insightful decision-making information.
marketing research in order for
managers to take proper actions.
reformats, segments, and resells
reports already published by
marketing research firms.
must be answered, how and when
the data will be gathered, and how
the data will be analyzed.
time; used for solving the particular
problem under investigation.
gathering primary data, in which a
researcher interacts with people to
obtain facts, opinions, and attitudes.
sample will be drawn.
in the population has a known
statistical likelihood of being
that every element of the population
has an equal chance of being
selected as part of the sample.
no attempt is made to get a
representative cross section of the population.
using respondents who are
convenient or readily accessible
to the researcher—for example,
employees, friends, or relatives.
difference between the information
desired by the researcher and
the information provided by the
somehow does not represent the
drawn from a population differs
from the target population.
selected sample is an imperfect
representation of the overall
interviewing respondents on a
lets the analyst look at the responses
to one question in relation to the
responses to one or more other questions.
consumers who agree to participate
in an ongoing dialogue with a
and share among themselves.
research that uses data mining
coupled with identifying Web surfers by their IP addresses.
from a single group of respondents
by continuously monitoring the
advertising, promotion, and pricing
they are exposed to and the things
that tracks the purchases of 3,000
households through store scanners in
each research market.
service for the consumer packaged goods
managers assess their competition
and vendors in order to become
more efficient and effective
unfavorable, that a person receives
in an exchange.
other goods or services, to facilitate
an organization’s operations, or to
resell to other customers.
individual’s personal wants.
merits little shopping effort.
shopping because it is usually more
expensive than a convenience product
and is found in fewer stores.
search extensively and are very
reluctant to accept substitutes.
buyer, or a known product that the
buyer does not actively seek.
can be designated as a distinct offering among an organization’s products.`
combination thereof that identifies a
seller’s products and differentiates
them from competitors’ products.
spoken, including letters, words,
the product is sold outside its home
country or region.
brand over all others.
wholesaler or a retailer.
of a retailer’s affiliation, is
manufactured by a third party, and
is sold exclusively at the retailer.
or part of a brand.
focuses on a promotional theme
or logo with consumer information
designed to help consumers make
proper product selections and lower
their cognitive dissonance after the
performance of a good or service.
good or service is fit for the purpose
market, the producer, the seller, or
some combination of these.
development process with the
objectives of the marketing
department, the business unit,
and the corporation.
the creation of marketable new
products; the process of converting
applications for new technologies
into marketable products.
think of unlimited ways to vary a
product or solve a problem.
development process, which
eliminates ideas that are inconsistent
with the organization’s newproduct
strategy or are obviously
inappropriate for some other reason.
idea, usually before any prototype
has been created.
process where preliminary figures
for demand, cost, sales, and
profitability are calculated.
development process in which
a prototype is developed and a marketing strategy is outlined.
and a marketing program to
determine the reactions of potential customers in a market situation.
other promotion materials for several
products, including a test product,
to members of the product’s target
enough with his or her trial
experience with a product to use
of an innovation spreads.
traces the stages of a product’s
acceptance, from its introduction
(birth) to its decline (death).
would be a brand that was the first and last competitor in a product form market.
type of need.
life cycle in which the full-scale
launch of a new product into the
life cycle when sales typically
grow at an increasing rate, many
competitors enter the market, large
companies may start acquiring small
pioneering firms, and profits are
a decreasing rate.
cycle during which sales increase at
a decreasing rate.
cycle, characterized by a long-run
drop in sales
determining the success of a new product is the extent to which the product
matches the needs of the market. Good matches are frequently successful. Poor
matches are not.
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