Marketing Terms and Concepts: A Comprehensive Glossary, Quizzes of Marketing

Download Marketing Terms and Concepts: A Comprehensive Glossary and more Quizzes Marketing in PDF only on Docsity! TERM 1 Consumption DEFINITION 1 Process by which goods, services, or ideas are used and transformed into value. TERM 2 Consumer Orientation DEFINITION 2 Business philosophy that puts customer value satisfaction first. TERM 3 Market Orientation DEFINITION 3 Organizational culture that emphasizes consumer orientation. TERM 4 Relationship Marketing DEFINITION 4 Style of marketing that believes repeat business is key for business success. TERM 5 Differentiated Marketing DEFINITION 5 Business orientation that serves multiple market segments. TERM 6 Touchpoints DEFINITION 6 Times of direct contact with the consumer. TERM 7 Myopia DEFINITION 7 Short sighted; defines the business in terms of products and not the value consumers receive. TERM 8 Undifferentiated Marketing DEFINITION 8 Type of marketing that is some basic product offered to all customers. TERM 9 Ethnography DEFINITION 9 Involves analyzing artifacts associated with consumption; living as the consumer, etc. TERM 10 Consumer Value Framework (CVF) DEFINITION 10 Model that shows how a variety of factors shape consumption and ultimately determine value associated with consumption. TERM 21 Perception DEFINITION 21 A consumer's awareness and interpretation of reality; the meaning attached to a stimulus. TERM 22 Attention DEFINITION 22 Element of perception. It does not always follow exposure because we are exposed to thousands of stimuli per day but only attend to a few. TERM 23 Comprehension DEFINITION 23 Consumer takes meaning from the information they see; marketers seek to control it. TERM 24 Organization DEFINITION 24 How we label and store information; changes our expectation of the product and our perception of benefit. TERM 25 Assimilation DEFINITION 25 A type of categorization; when something is easily recognized and categorized (bicycle). TERM 26 Accommodation DEFINITION 26 A type of categorization; when a product shares some features with another product (foldable bike). TERM 27 Contrast DEFINITION 27 A type of categorization; when a product has nothing in common with anything else (Segway). TERM 28 Just Noticeable Difference (JND) DEFINITION 28 How much stronger/different one stimulus has to be, relative to another, so that someone can notice a change (Morton Salt logo change over the years). TERM 29 Just Meaningful Difference DEFINITION 29 The smallest change in a stimulus that would influence consumer choice; for pricing, it is about 20%. TERM 30 Classical Conditioning DEFINITION 30 A change in behavior that occurs simply through associating some stimulus with another that naturally causes a reaction. TERM 31 Instrumental Conditioning DEFINITION 31 A change in behavior that occurs through reinforcement. TERM 32 Positive Reinforcement DEFINITION 32 A type of reinforcement; rewarding for good behavior; can increase loyalty (points programs). TERM 33 Punishment DEFINITION 33 A type of reinforcement; buying a bad product; sometimes hypothetical--comparative advertising. TERM 34 Negative Reinforcement DEFINITION 34 A type of reinforcement; rewarding good behavior by removing a bad stimulus; use our product to avoid a bad outcome. TERM 35 Comprehension DEFINITION 35 The understanding of a stimulus. TERM 46 Product DEFINITION 46 Type of consumer involvement; buying a TV vs. shampoo. TERM 47 Shopping DEFINITION 47 Type of consumer involvement; consuming for leisure vs. purpose. TERM 48 Situational DEFINITION 48 Type of consumer involvement; a temporary purchase; buying a new PC. TERM 49 Enduring DEFINITION 49 Type of consumer involvement; ongoing interest; may relate to your social schemata. TERM 50 Emotional DEFINITION 50 Type of consumer involvement; sports fans, enthusiasts. TERM 51 Emotions DEFINITION 51 Psychobiological reactions to appraisals. TERM 52 Mood DEFINITION 52 A transient and general affective state. TERM 53 Affect DEFINITION 53 Represents the feelings someone has about a thing or activity. TERM 54 Autonomic Measures DEFINITION 54 A way to measure consumption; Galvanic skin response (GSR), heart rate, etc. TERM 55 Self-Report Measures DEFINITION 55 A way to measure consumption; less obtrusive; more recall based. TERM 56 Schema-Based Affect DEFINITION 56 Emotions are stored as part of the meaning for a category. TERM 57 Personality DEFINITION 57 The totality of thoughts, emotions, intentions, and behaviors that a person exhibits consistently as he adapts to his environment. TERM 58 Arranged Marriages DEFINITION 58 Fournier's typology of consumer-brand relationships; Karen's adoption of her ex-husband's preferred brands. TERM 59 Marriage of Convenience DEFINITION 59 Fournier's typology of consumer-brand relationships; Karen adopted regional baked beans brand. TERM 60 Compartmentalized Friendships DEFINITION 60 Fournier's typology of consumer-brand relationships; Karen had many perfumes for different situations. TERM 71 Ideal Social Self DEFINITION 71 Type of self-concept; what I hope everyone thinks I am. TERM 72 Possible Self DEFINITION 72 Type of self-concept; what a person thinks he could become. TERM 73 Extended Self DEFINITION 73 Type of self-concept; how a person defines himself through externals like possessions and jobs. TERM 74 Self-Congruency Theory DEFINITION 74 Theory that proposes that much of consumer behavior can be explained by the match between a consumer's self-concept and the image of typical users of a focal product. TERM 75 Attitude DEFINITION 75 A lasting, general evaluation of people, objects, advertisements, or issues. TERM 76 Modeling DEFINITION 76 A way attitude can be formed; copying the behavior of friends or media figures. TERM 77 Persuasion DEFINITION 77 The specific attempts to change attitudes. TERM 78 Performer Q DEFINITION 78 Type of Q-score; rates living community. TERM 79 Dead Q DEFINITION 79 Type of Q-score; rates current popularity of deceased celebrities. TERM 80 Sports Q DEFINITION 80 Type of Q-score; rates sports figures. TERM 81 Cartoon Q DEFINITION 81 Type of Q-score; rates caricatures' characteristics. TERM 82 Culture DEFINITION 82 Commonly held societal beliefs that define what is socially gratifying. TERM 83 Folkways DEFINITION 83 Type of norm; routine conventions of everyday life: dress codes, good manners, etc. TERM 84 Mores DEFINITION 84 Norms that are central to societal functioning: adultery, incest, etc. TERM 85 Power Distance DEFINITION 85 Hofstede's cultural values; how does the society deal with inequality TERM 96 Transnational Brands DEFINITION 96 Brands that are offered in multiple regions of the world under a common brand name, but with different pricing distribution or identification strategies. TERM 97 Global Brands DEFINITION 97 Brands that cross boundaries, easily maintaining a unified and consistent identity around the world. TERM 98 Microculture DEFINITION 98 A group of people who share similar values and tastes that are subsumed within a larger culture. TERM 99 Role Conflict DEFINITION 99 Occurs when a consumer experiences conflicting expectations based on cultural expectations. TERM 100 Divergence DEFINITION 100 Occurs when consumers choose membership in micro cultures in order to stand out or define themselves. TERM 101 Street Microcultures DEFINITION 101 Microcultures that arise from popular culture; sports, music, goth, gaming, virtual, etc. TERM 102 Brand Communities DEFINITION 102 People who develop relationships based on shared interests or product usage; ex- product (RED) TERM 103 Informational Influence DEFINITION 103 Type of reference group influence; consumers use the behaviors and attitudes of reference groups as information for making their own decisions. TERM 104 Utilitarian Influence DEFINITION 104 Type of reference group influence; consumers conform to group expectations to receive an award or avoid punishment. TERM 105 Value-Expressive Influence DEFINITION 105 Type of reference group influence; consumers internalize group values or join groups to express their own values and beliefs. TERM 106 Organic Word of Mouth DEFINITION 106 Word of mouth that occurs naturally; you liked something so you told others about it. TERM 107 Amplified Word of Mouth DEFINITION 107 Word of mouth, which marketers attempt to accelerate; taking part in discussions on a company website. TERM 108 Opinion Leaders DEFINITION 108 People who have great influence on the behavior of others relating to product adoption and purchase. TERM 109 Market Maven DEFINITION 109 A consumer who spreads information about all types of products and services. TERM 110 Shilling DEFINITION 110 A type of stealth marketing where companies pay others to spread word of mouth. TERM 121 Experiential Perspective DEFINITION 121 Perspective on consumer decision making; consumers are influenced by feelings associated with consumption. TERM 122 Behavioral Perspective DEFINITION 122 Perspective on consumer decision making; consumer decisions are responses to environmental influences. TERM 123 Exhibit DEFINITION 123 Decision making approaches and involvement TERM 124 Extended Decision Making DEFINITION 124 A lengthy process of search and evaluation that occurs when there is high involvement and risk. TERM 125 Limited Decision Making DEFINITION 125 A low-search based process where buying is based on previous experience; involves little brand comparison and occurs when there is low risk and product involvement. TERM 126 Habitual Decision Making DEFINITION 126 A process in which choice is based on habit or brand loyalty and is involved in making routine decisions. TERM 127 Brand Inertia DEFINITION 127 When a consumer buys a product repeatedly without attachment. It is generally bad for marketers and is the arch- rival of involvement. TERM 128 Status Quo Bias DEFINITION 128 Situation that claims that in order for consumers to change their products and stop brand inertia, their benefits must outweigh costs by 10x. Must change people from loss-frame to gain-frame. TERM 129 Need Recognition DEFINITION 129 The perceived difference between actual and desired states. TERM 130 Ongoing Search DEFINITION 130 Type of search behavior; consumers continually stay up to date with their products. TERM 131 Prepurchase Search DEFINITION 131 Type of search behavior; specific to the consumer's current purchase. TERM 132 Internal Search DEFINITION 132 Type of search behavior; consumer searches his own experiences to gather info. TERM 133 External Search DEFINITION 133 Type of search behavior; a consumer gathers information from a variety of outside sources. TERM 134 Consideration/Evoked Set DEFINITION 134 The set at the top of a consumer's mind; marketers want their brand to be in this set. TERM 135 Evaluative Criteria DEFINITION 135 The attributes, features, or potential benefits that consumers consider when reviewing possible solutions to a problem. TERM 146 Satisfaction DEFINITION 146 A mild, positive emotional state resulting from a favorable appraisal of a consumption outcome. TERM 147 Dissatisfaction DEFINITION 147 A mild, negative, affective reaction, resulting from an unfavorable appraisal of a consumption outcome. TERM 148 Predictive Expectation DEFINITION 148 Type of expectation; what will actually occur. TERM 149 Normative Expectation DEFINITION 149 Type of expectation; based on past experiences. TERM 150 Ideal Expectation DEFINITION 150 Type of expectation; what we want to happen. TERM 151 Equitable Expectation DEFINITION 151 Type of expectation; what should happen given the effort we put into it. TERM 152 Confirmatory Bias DEFINITION 152 Claims that we seek out evidence to support our expectations. TERM 153 Equity Theory DEFINITION 153 Claims that consumers cognitively compare their own level of inputs and outcomes to those of the other party in the exchange. TERM 154 Attribution Theory DEFINITION 154 Theory that focuses on explaining why a certain event has occurred. TERM 155 Locus DEFINITION 155 In the attribution theory; who the consumer deems is responsible for the event. TERM 156 Control DEFINITION 156 In the attribution theory; the extent to which the outcome was controllable or not in the consumer's eyes. TERM 157 Stability DEFINITION 157 In the attribution theory; likelihood that an event will occur again in the consumer's eyes. TERM 158 Cognitive Dissonance DEFINITION 158 Buyers' remorse; lingering doubts about a decision that has already been made. TERM 159 Procedural Switching Costs DEFINITION 159 Type of switching cost; the time and effort it takes to switch products. TERM 160 Financial Switching Costs DEFINITION 160 Type of switching cost; sunk costs the consumer has put into his current product.