B2B Marketing and Consumer Behavior Terms and Definitions, Quizzes of Principles of Marketing

Download B2B Marketing and Consumer Behavior Terms and Definitions and more Quizzes Principles of Marketing in PDF only on Docsity! TERM 1 What is B2B marketing DEFINITION 1 Is the use of E-Communication between companies, sharing into, buying and selling. TERM 2 Categories of business cutomers - divided into different markets producers, re sellers (which are both wholesalers and retailers), government and institutions DEFINITION 2 Producers = OemsResellers = Whole Salers, RetailersGoverment = Federal, State, Municipal, countryInstitutions = Foundations, Others, Non - profit TERM 3 Derived demand DEFINITION 3 The demand for a product that is used to produce consumer products TERM 4 Inelastic Demand DEFINITION 4 Is the demand of product based on price (Price has little effect on demand) TERM 5 Multiplier Effect DEFINITION 5 Is the effect that if one product make many of a product and demand goes up they may make more TERM 6 Roles in the buying center DEFINITION 6 iniator- person who suggest purchase implementer- people who influence the buyer Gate Keeper- regular ways flow of info Decider - Person who decides the selection of bramel Purchaser - Person who negotiats the purchase User - actually uses product TERM 7 Identify different buying situations DEFINITION 7 New Buyer - Purchase for a first timeModified Buyer - Whenpurchasingand need change where it complements the old systemsStraight Rebuy - Buying the exact same as last time TERM 8 Importance of market segmentation DEFINITION 8 Market Segmentation More precise definition of costumers needs and wantsMore accurate marketing objectivesImproved resouce allocationsBetter market results TERM 9 Criteria for segmentation DEFINITION 9 Sustainability - A market must be large enough to sustain and not just potential cotumers, but big enough to make it not failIdentifiability, Measearability - Segment must be identifiable and measered, you need to know the people in a ceratin area, age, incomeAccesability - You have to be able to find and read the targetsResponsiveness - Must be logical, different people respond different to different ideas and must be treated seperately. TERM 10 Types of consumer segments DEFINITION 10 Geopgraphy - pg 123Demographics - pg 124Pschographics pg 127Benefits Sought - 127usage rate - 129 TERM 21 Forms of survey research DEFINITION 21 In home Interviewed = Very high quality yet expensive and becoming obsoleteMall Intercept Interviews = Expensive and must rent spare also you need to keep them short so ppl stayTelephone Interview = Many people refuse to conduct, causeing it to become more expensive, TERM 22 Advantages of Internet Surveys DEFINITION 22 Rapiel Develpment = Real time reposting, can give interviewr to 1000s instantlyDramatically reduced costPersonalized questions and dataImroved respndent ParticipationContact with the hard to reach TERM 23 Role of blogs DEFINITION 23 -Refinded technologies allow companies to mine data available in internet blogs-Companies can use blogs to find out info from customers-Allow both + and - comments-Like and inexpensive focus group TERM 24 Uses of Internet by Researchers DEFINITION 24 -Recued the time and cost of collecting-Number of reseach application on the internet has measured-Broader geographically-Honesty-Accesability TERM 25 When to conduct research DEFINITION 25 Its depends on your perception of the quality of info on hand, so the manager needs to determine if the expected value of info is greater then the cost of obtaining TERM 26 3 Roles of marketing Research DEFINITION 26 Descriptive = Gathering and presenting factual statementsDiagnostic = Explaining DataPredictive = What if?