Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
69 Cards in this Set
- Front
- Back
world trade
|
flow of goods and services among different countries, value of all the world's imports and exports
|
|
countertrade
|
type of trade in which goods are paid for with other terms instead of with cash
|
|
protectionism
|
policy adopted by a government to give domestic companies an advantage
|
|
import quotas
|
limitations set by a government on the amount of a product allowed to enter or leave a country
|
|
embargo
|
quote completely prohibiting specified goods from entering or leaving the country
|
|
tariffs
|
taxes on imported goods
|
|
economics communities
|
groups of countries that band together to promote trade among themselves and to make it easier to member nations to compete elsewhere
|
|
competitive intelligence
|
process of gathering and analyzing publicly and available information about rivals
|
|
discretionary income
|
the portion of the income people have left over after paying for necessities such as housing, utilities, food and clothing
|
|
product competition
|
when firms offering different products compete to satisfy the same consumer wants or needs
|
|
brand competiton
|
when firms offering similar goods or services compete on the basis of their brand's reputation or perceived benefits
|
|
local content rules
|
form of protectionism stipulating that a certain proportion of a product must consist of components supplied by industries in the host country or economic community
|
|
bribery
|
when someone voluntarily offers payments to get an illegal advantage
|
|
extortion
|
when someone in authority extracts payment under duress
|
|
export merchants
|
intermediaries a firm uses to represent it in other countries
|
|
straight extension strategy
|
product strategy in which a firm offers the same product in both domestic and foreign markets
|
|
product adaptation strategy
|
product strategy in which a firm offers a similar but modified product in foreign markets
|
|
product invention strategy
|
product strategy in which a firm develops a new product for foreign markets
|
|
marketing information system
|
process that first determines what information marketing managers needs and then gathers, sorts, analyzes, stores, and distributes relevant and timely marketing information to system users
|
|
intranet
|
an internal corporate communication network that uses internet technology to link company departments, employees and databases
|
|
marketing intelligence system
|
method by which marketers get info about everyday happenings in the marketing environment
|
|
syndicated research
|
research by firms that collect data on a regular basis and sell the reports to multiple firms
|
|
custom research
|
research conducted for a single firm to provide specific information its managers need
|
|
prediction markets
|
approach to forecasting and trend identification that pools opinions from a group of knowledgeable people about a product or service
|
|
Marketing information system components
|
1. internal company data
2. marketing intelligence 3. marketing research 4. acquired databases |
|
Marketing decision support system
|
the data, analysis software, and interactive software that allow managers to conduct analyses and find the information they need
|
|
data mining
|
sophisticated analysis techniques to take advantage of the massive amount of transaction information now available
|
|
behavioral targeting
|
practice of using data to track a user's on-line travels in order to show an ad for a product to someone who has visited a related website
|
|
what marketers can do with data mining
|
1. customer acquisition
2. customer retention and loyalty 3. customer abandonment 4. market basket analysis |
|
steps in marketing research process
|
1. define the research problem
2. determine the research design 3. choose the method to collect primary data 4. design the sample 5. collect the data 6. analyze and interpret data 7. prepare the research report |
|
steps to defining the research problem
|
1. specify the objectives
2. identify consumer population of interest 3. place the problem in an environmental context |
|
research design
|
a plan that specifies what information marketers will collect and what type of study they will do
|
|
secondary data
|
data that have been collected previously for some other purpose
|
|
primary data
|
data from research conducted to help make a specific decision
|
|
exploratory research
|
technique that marketers use to generate insights for future, more rigorous studies
|
|
projective technique
|
test that marketers use to explore people's underlying feelings about a product
|
|
case study
|
comprehensive exam of a particular firm or organization
|
|
ethnography
|
approach to research based on observations of people in their own homes or communities
|
|
descriptive research
|
tool that probes more systematically into the problem and bases its conclusions on large numbers of observations
|
|
cross-sectional design
|
type of descriptive technique that involves the systematic collection of quantitative info
|
|
longitudinal design
|
technique that tracks the responses of the same sample of respondents over time
|
|
causal research
|
technique that attempts to understand cause and effect relationships
|
|
involvement
|
relative importance of perceived consequences of the purchase to a consumer
|
|
perceived risk
|
belief that choice of a product has potentially negative consequences, whether physical, financial or social
|
|
Decision making steps
|
1. problem recognition
2. info search 3. evaluation of alternatives 4. product choice 5. postpurchase evaluation |
|
problem recognition
|
initiates decision making process
|
|
information search
|
process when a consumer searches for appropriate info to make a reasonable decision
|
|
behavioral targeting
|
marketing practice by which marketers deliver advertisements for products a consumer is looking for by watching what the consumer does online
|
|
evaluative criteria
|
dimensions consumers use to compare competing product alternatives
|
|
heuristics
|
mental rule of thumb that leads to a speedy decision by simplifying the process
|
|
cognitive dissonance
|
anxiety or regret a consumer may feel after choosing from among several similar attractive choices
|
|
Internal influences on consumers decisions
|
perception
motivation learning attitudes personality age lifestyle |
|
perception
|
process by which people select, organize, and interpret info from the outside world by using our sensory receptors
first impression |
|
motivation
|
internal state that drives us to satisfy needs by activating goal-oriented behavior
|
|
hierarchy of needs
|
physiological
safety belongingness ego needs self-actualization what motivates us to purchase something |
|
classical conditioning
|
the learning that occurs when a stimulus eliciting a response is paired with another stimulus that initially does not elicit response on its own but will cause a similar response over time because of its association with the first stimulus
|
|
operant conditioning
|
learning that occurs as the result of rewards or punishments
|
|
stimulus generalization
|
behavior caused a reaction to one stimulus occurs in the presence of other similar stimuli
|
|
cognitive learning theory
|
theory of learning that stresses the importance of internal mental processes and that views people as problem solvers who actively use information from the world around them to master their environment
|
|
observational learning
|
learning that occurs when people watch the actions of others and note what happens to them as a result
|
|
attitude
|
learned predisposition to respond favorably or unfavorably to stimuli on the basis of relatively enduring
evaluations of people, objects, and issues long-term impression |
|
affect
|
feeling of component of attitudes, refers to the overall emotional response a person has to a product
|
|
cognition
|
knowing component of attitudes, refers to the beliefs or knowledge a person has about a product and its important characteristics
|
|
beahvior
|
the doing of attitudes, involves consumer's intention to do something
|
|
family life cycle
|
means of characterizing consumers within a family structure on the basis of different stages thru with people pass as they grow older
|
|
lifestyle
|
pattern of living that determines how people choose to spend their time, money, and energy and that reflects their values, tastes and preferences
|
|
pyschographics
|
use of psychological, sociological, and anthropological factors to construct market segments
|
|
Kyoto Protocol
|
global agreement among countries that aims at reducing greenhouse gases that create climate change
|
|
consumer-to-consumer e-commerce
|
communications and purchases that occur among individuals without directly involving the manufacturer or retailer
|