Key Terms for MARKETING (Midterm Exam)

3 perceptual processes 172 selective attention, selective distortion, selective

retention
4 Ps marketing 34 product, price, place, promotion
5 adopter groups 179 Innovators; Early adopters; Early mainstream; Late
mainstream; Lagging adopters
5 brand personality traits 169 sincerity, excitement, competence, sophistication,
ruggedness
5 Core costumer and marketplace 28 (1) needs, wants, and demands; (2) market
concepts offerings (products, services, and experiences); (3)
value
and satisfaction; (4) exchanges and relationships;
and (5) markets.
5 stages in the process of 179 Awareness; Interest, Evaluation, Trial, Adoption
adopting a new product

A
A Model of Business Buyer 192
Behavior
Actors in the Microenvironment 93
Adopter Categories Based on 180
Relative Time of Adoption of
Innovations
Adoption process 178 The mental process through which an individual
passes from first hearing about an innovation to
final adoption.
African American Consumers 161
AIO dimensions 169
Alternative evaluation 177 The stage of the buyer decision process in which
the consumer uses information to evaluate
alternative brands in the \choice set.
Asian American Consumers 161
Attitude 174 A person’s consistently favorable or unfavorable
evaluations, feelings, and tendencies toward an
object or idea

B
Baby boomers 96 The 78 million people born during the years
following World War II and lasting until 1964.
Belief 173 A descriptive thought that a person holds about
something.
Blank contract 199

brand personality
Business buyer behavior
169 The specific mix of human traits that may be
attributed to a particular brand
190 The buying behavior of organizations that buy
goods and services for use in the production of
other products and services that are sold, rented, or
supplied to others.
 Key Terms for MARKETING (Midterm Exam)
Business buying process 190 The decision process by which business buyers
determine which products and services their
organizations need to purchase and then find,
evaluate, and choose among alternative suppliers
and brands.
Business legislation (Government 107
regulation)
Business-to-business (B-to-B) 190
marketers
Buyer Decision Process 176
Buyers 194 People in an organization’s buying center who make
an actual purchase.
Buying center 194 All the individuals and units that play a role in the
purchase decision-making process.
Buzz Marketing 163

caring capitalism
caring capitalism
Causal research
Cause-Related Marketing
Cognitive dissonance
commercial online databases
Competitive marketing
intelligence
Complex buying behavior
Considerations Underlying
the Societal Marketing Concept
Consumer buyer behavior
Consumer market
Consumer Product Safety
Commission (CPSC)
Consumer-genareting marketing
C
49
109
129 Marketing research to test hypotheses about cause-
and-effect relationship
109
178 Buyer discomfort caused by postpurchase conflict.
130
127 The systematic collection and analysis of publicly
available information about consumers,
competitors, and developments in the marketing
environment.
174 Consumer buying behavior in situations
characterized by high consumer involvement in a
purchase and significant perceived differences
among brands.
34
158 The buying behavior of final consumers—
individuals and households that buy goods and
services for personal consumption.
158 All the individuals and households that buy or
acquire goods and services for personal
consumption.
106
40 Brand exchanges created by consumers
themselves—both invited and uninvited— by which
consumers are playing an increasing role in shaping
their own brand experiences and those of other
consumers.
 Key Terms for MARKETING (Midterm Exam)
Costumers Relationship
management (CRM)
Council of American Survey
Research Organizations (CASRO)
Cross-cutural Marketing
Cultural environment
cultural shifts
Culture
Customer equity
customer evangelists
Customer insights
customer insights teams
Customer lifetime value
Customer Relationship Groups
Customer Relationship Levels
Customer relationship
management
(CRM)
Customer satisfaction
Customer value
Customer-driven
Customer-driving
Customer-managed relationships
34 The overall process of building and maintaining
profitable customer relationships by delivering
superior customer value and satisfaction.
148
162 The practice of including ethnic themes and cross-
cultural perspectives within their mainstream
marketing
110 Institutions and other forces that affect society’s
basic values, perceptions, preferences, and
behaviors.
160
160 The set of basic values, perceptions, wants, and
behaviors learned by a member of society from
family and other important institutions.
43 The total combined customer lifetime values of all
of the company’s customers.
35 who spread the word about their good experiences
to others.
125 Fresh understandings of customers and the
marketplace derived from marketing information
that become the basis for creating customer value
and relationships.
125
42 The value of the entire stream of purchases a
customer makes over a lifetime of patronage.
44
36 basic relationships, full partnerships, frequency
marketing programs, club marketing programs
141 Managing detailed information about individual
customers and carefully managing customer touch
points to maximize customer loyalty.
35 The extent to which a product’s perceived
performance matches a buyer’s expectations.
35
33 Customer-driven companies research customers
deeply to learn about their desires, gather new
product ideas, and test product improvement.
33 understanding customer needs even better than
customers
themselves do and creating products and services
that meet both existing and latent needs,
now and in the future.
39 Marketing relationships in which customers,
empowered by today’s
new digital technologies, interact with companies
and with each other to shape their relationships
with brands.
 Key Terms for MARKETING (Midterm Exam)
Customer-perceived value
data mining
data warehouses
Deciders
Demands
Demography
Derived demand
Descriptive research
developing economies
Developing Marketing
Information
disciplined methods
Dissonance-reducing buying
behavior
Economic environment
Environmental Protection Agency
(EPA)
Environmental sustainability
E-procurement
Ethnographic research
Exchange
Experimental research
35 The customer’s evaluation of the difference
between all the benefits and all the costs of a
marketing offer relative to those of competing
offers.
D
141
141
194 People in an organization’s buying center who have
formal or informal power to select or approve the
final suppliers.
28 Human wants that are backed by buying power.
96 The study of human populations in terms of size,
density, location, age, gender, race, occupation, and
other statistics.
191 Business demand that ultimately comes from
(derives from) the demand for consumer goods.
129 Marketing research to better describe marketing
problems, situations, or markets, such as the
market potential for a product or the demographics
and attitudes of consumers.
103
126 Marketers can obtain the needed info from internal
data, marketing intelligence, and marketing
research
92 marketing research and marketing intelligence
175 Consumer buying behavior in situations
characterized by high involvement but few
perceived differences among brands.
E
103 Economic factors that affect consumer purchasing
power and spending patterns.
105
105 Developing strategies and practices that create a
world economy that the planet can support
indefinitely.
199 Purchasing through electronic connections between
buyers and sellers—usually online.
132 A form of observational research that involves
sending trained observers to watch and interact
with consumers in their “natural environments.”
29 The act of obtaining a desired object from someone
by offering something in return.
133 Gathering primary data by selecting matched
groups of subjects, giving them different
treatments, controlling related factors, and
checking for differences in group responses.
 Key Terms for MARKETING (Midterm Exam)
Exploratory research 129 Marketing research to gather preliminary
information that will help define problems and
suggest hypotheses.
external stimuli 176
extranet links 199
extranets 144

F
Factors Influencing Consumer 159
Behavior
Federal Trade Commission (FTC) 107
Focus group interviewing 134 Personal interviewing that involves inviting 6 to 10
people to gather for a few hours with a trained
interviewer to talk about a product, service, or
organization. The interviewer “focuses” the group
discussion on important issues.
Food and Drug Administration 106
(FDA)
Four Types of Buying Behavior 175

Gatekeepers
General need description
Generation X
Generational Marketing
Government market
Group
Group interviewing
G
194 People in an organization’s buying center who
control the flow of information to others.
198 The stage in the business buying process in which a
buyer describes the general characteristics and
quantity of a needed item.
96 The 49 million people born between 1965 and 1976
in the “birth dearth” following the baby boom.
100
203 Governmental units—federal, state, and local—that
purchase or rent goods and services for carrying out
the main functions of government.
162 Two or more people who interact to accomplish
individual or mutual goals.
134

Habitual buying behavior
Hispanic American Consumers
H
175 Consumer buying behavior in situations
characterized by low consumer involvement and
few significant perceived brand differences.
160

I
immersion groups 134
Individual interviewing 134
industrial economies 103
 Key Terms for MARKETING (Midterm Exam)
Influencers
Information search
information sources
Institutional market
integrated marketing program
194 People in an organization’s buying center who
affect the buying decision; they often help define
specifications and also provide information for
evaluating alternatives.
176 The stage of the buyer decision process in which
the consumer is motivated to search for more
information.
176 personal sources, commercial s, public s,
experiential s
202 Schools, hospitals, nursing homes, prisons, and
other institutions that provide goods and services
to people in their care.
34

Interactive Customer 39
Relationships
Internal databases 126 Electronic collections of consumer and market
information obtained from data sources within the
company network.
internal stimuli 176
Internet 47 A vast public web of computer networks that
connects users of all types all around the world to
each other and to an amazingly large information
repository.
Internet search engines 130

Interpersonal factors 195

interpretive consumer research 172
intranet 142

L
leading adopters 163
Learning 173 Changes in an individual’s behavior arising from
experience.
Lifestyle 169 A person’s pattern of living as expressed in his or
her activities, interests, and opinions.
lifestyles of health and 112
sustainability (LOHAS) Market

M
Macroenvironment 93 The larger societal forces that affect the
microenvironment—demographic,
economic, natural, technological, political, and
cultural forces.
mail questionnaires 133
Major American Social Classes 163
 Key Terms for MARKETING (Midterm Exam)
Major Forces in the Company’s
Macroenvironment
Major Influences on Business
Buyer Behavior
Major U.S. Legislation Affecting
Marketing
Market
Marketing
Marketing concept
Marketing environment
Marketing Information System
Marketing information system
(MIS)
Marketing intermediaries
Marketing Management
marketing mix
marketing mix
Marketing Myopia
Marketing offerings
Marketing research
Marketing Research
Process
Maslow’s Hierarchy of Needs
96
195
108
29 The set of all actual and potential buyers of a
product or service.
27 The process by which companies create value for
customers and build strong customer relationships
in order to capture value from customers in return.
32 A philosophy in which achieving organizational
goals depends on knowing the needs and wants of
target markets and delivering the desired
satisfactions better than competitors do.
92 The actors and forces outside marketing that affect
marketing management’s ability to build and
maintain successful relationships with target
customers.
126
125 People and procedures dedicated to assessing
information needs, developing the needed
information, and helping decision makers to use the
information to generate and validate actionable
customer and market insights.
94 Firms that help the company to promote, sell, and
distribute its goods to final buyers including
resellers, physical distribution firms, marketing
services agecies, financial intemediaries.
30 The art and science of choosing target markets and
building profitable relationships with them.
27, 34 the set of marketing tools that work together to
satisfy customer needs and build customer
relationships. / the set of marketing tools the firm
uses to implement its marketing strategies
34
29 The mistake of paying more attention to the specific
products a company offers than to the benefits and
experiences produced by these products.
28 Some combination of products, services,
information, or experiences offered to a market to
satisfy a need or want.
128 The systematic design, collection, analysis, and
reporting of data relevant to a specific marketing
situation facing an organization.
129
172
 Key Terms for MARKETING (Midterm Exam)
mass marketing 38 selling in a standardized way to any customer who
comes along
Mechanical Instruments. 139
Microenvironment 93 The actors close to the company that affect its
ability to serve its customers— the company,
suppliers, marketing
intermediaries, customer markets, competitors, and
publics.
Millennials (Generation Y) 100 The 83 million children of the baby boomers born
between 1977 and 2000.
Model of Buyer Behavior 159
Model of the Marketing Process 50
(Expanded)
Model of the Marketing Process 27
(Simple)
Modern Marketing System 30
Modified rebuy 193 A business buying situation in which the buyer
wants to modify product specifications, prices,
terms, or suppliers.
motivation research 172
Motive (drive) 171 A need that is sufficiently pressing to direct the
person to seek satisfaction of the need.

N
Natural environment 104 The physical environment and the natural resources
that are needed as inputs by marketers or that are
affected by
marketing activities.
Need recognition 176 The first stage of the buyer decision process, in
which the consumer recognizes a problem or need.
Needs 28 States of felt deprivation
Netnography 132
neuromarketing 140
New product 178 A good, service, or idea that is perceived by some
potential customers as new.
New task 193 A business buying situation in which the buyer
purchases a product or service for the first time.

Observational research
Online focus groups
Online marketing research
O
131 Gathering primary data by observing relevant
people, actions, and situations.
136 Gathering a small group of people online with a
trained moderator to chat about a product, service,
or organization and gain qualitative insights about
consumer attitudes and behavior.
135 Collecting primary data online through Internet
surveys, online focus groups, Web-based
 Key Terms for MARKETING (Midterm Exam)
Online social networks
Opinion leader
Order-routine specification
Organizational factors
Partner relationship management
Perception
Performance review
Personal Factors
Personal interviewing
Personality
Planning Primary Data Collection
Political environment
Postpurchase behavior
postpurchase dissonance
Primary data
Problem recognition
experiments or tracking consumers’ online
behavior.
164 Online social communities—blogs, social
networking Web sites, and other
onlinecommunities—where people socialize or
exchange information and opinions.
163 A person within a reference group who, because of
special skills, knowledge,personality, or other
characteristics, exerts social influence on others.
199 The stage of the business buying process in which
the buyer writes the final order with the chosen
supplier(s), listing the technical specifications,
quantity needed, expected time of delivery, return
policies, and warranties.
195
P
41 Working closely with partners in other company
departments and outside the company to jointly
bring greater value to customers.
172 The process by which people select, organize, and
interpret information to form a meaningful picture
of the world.
199 The stage of the business buying process in which
the buyer assesses the performance of the supplier
and decides to continue, modify, or drop the
arrangement.
167 The buyer's age and life-circle stage, economic
situation, occupation, lifestyle, personality and self-
concept (self-image)
134
169 The unique psychological characteristics that
distinguish a person or group.
131
107 Laws, government agencies, and pressure groups
that influence and limit various organizations and
individuals in a given society.
178 The stage of the buyer decision process in which
consumers take further action after purchase,
based on their satisfaction or dissatisfaction.
175
130 Information collected for the specific purpose at
hand.
197 The stage of the business buying process in which
the company recognizes a problem or need that can
be met by acquiring a good or a service.
 Key Terms for MARKETING (Midterm Exam)
Product specification
Product value analysis
Production concept
Proposal solicitation
Psychological Factors
Public
public policy
Purchase decision
Questionnaires.
radio-frequency identification
(RFID)
research and development (R&D)
reverse auctions
Sample
Secondary data
Selective attention
Selective distortion
Selective retention
self-concept (self-image)
Selling and Marketing
Concepts Contrasted
Selling concept
198 The stage of the business buying process in which
the buying organization decides on and specifies
the best technical product characteristics for a
needed item.
198
31, 32 The idea that consumers will favor products that
are available and highly affordable; therefore, the
organization should focus on improving production
and distribution efficiency.
198 The stage of the business buying process in which
the buyer invites qualified suppliers to submit
proposals.
171 motivation, perception, learning, and beliefs and
attitudes
95 Any group that has an actual or potential interest in
or impact on an organization’s ability to achieve its
objectives.
107 sets of laws anf regulations that limit business for
the good of society as a whole
177 The buyer’s decision about which brand to purchase
Q
139
R
106
93
199
S
137 A segment of the population selected for marketing
research to represent the population as a whole.
130 Information that already exists somewhere, having
been collected for another purpose.
173 The tendecy for people to screen out most of the
information to which they are exposed
173 the tendency of people to interpret information in a
way that will support what they already believe
173 consumers are likely to remember good points
made about a brand they favor and forget good
points made about competing brands.
169
32
32 The idea that consumers will not buy enough of the
firm’s products unless the firm undertakes a large-
scale selling and protion effort
 Key Terms for MARKETING (Midterm Exam)
Share of customer
shared value
Social class
social marketing campaigns
Socially Responsible Behavior
Socially Responsible Behavior
Societal marketing concept
Stages of the Business Buying
Process
Straight rebuy
Strengths and Weaknesses of
Contact Methods
Subculture
subliminal advertising
subsistence economies
Substainable Marketing
Substainable Marketing
Supplier development
Supplier search
Supplier selection
supply chain
supply chain management
Survey research
42 The portion of the customer’s purchasing that a
company gets in its product categories.
33 recognizes that societal needs, not just economic
needs, defines markets
162 Relatively permanent and ordered divisions in a
society whose members share similar values,
interests, and behaviors.
48
109
109
33 The idea that a company’s marketing
decisions should consider consumers’
wants, the company’s requirements, consumers'
long-run interests and society's long-run interests
198
193 A business buying situation in which the buyer
routinely reorders something without any
modifications.
133
160 A group of people with shared value systems based
on common life experiences and situations.
173
103
49
33 socially and environmentally responsible marketing
that meets the present needs of consumers and
businesses
while also preserving or enhancing the ability of
future generations to meet their needs.
192 Systematic development of networks appropriate
and dependable supply of products and materials
for use in making products or reselling them to
others.
198 The stage of the business buying process in which
the buyer tries to find the best vendors.
198 The stage of the business buying process in which
the buyer reviews proposals and selects a supplier
or suppliers.
41
41
132 Gathering primary data by asking people questions
about their knowledge, attitudes, preferences, and
buying behavior.
 Key Terms for MARKETING (Midterm Exam)
Systems selling (or solutions 193 Buying a packaged solution to a problem from a
selling) single seller, thus avoiding all the separate decisions
involved in a complex buying situation.

T
Technological environment 106 Forces that create new technologies, creating new
product and market opportunities.
Telephone interviewing 134
the influentials 163
Theories of Sigmund Freud and 171
Abraham Malow
touch point 141
trading exchanges 199
Types of Customer markets 96 Consumer M, Business M, Reseller M, Gorvernment
M, International M
Types of Publics 95 Financial P, Media P, Gorvernment P, Citizen-action
P, Local P, General P, Internal P.
Types of Samples 137

U
Users 194 Members of the buying organization who will
actually use the purchased product or service.

value proposition
values-led business
Variety-seeking buying behavior
vendor-managed inventory
V
31 the set of benefits or values it promises to deliver to
consumers to satisfy their needs
109
175 Consumer buying behavior in situations
characterized by low consumer involvement but
significant perceived brand differences.
199

W
Wants 28 The form human needs take as they are shaped by
culture and individual personality.
Word-of-mouth influence 163 The impact of the personal words and
recommendations of trusted friends, associates,
and other consumers on buying behavior.