Marketing exam 2 terms

• target market: a group of people or organizations for which an organization designs, implements, and maintains a marketing mix intended to meet the needs of that group
• niche: one segment of a market
• Marketing research problem: determining what information is needed and how that information can be obtained efficiently and effectively
• Marketing research objective: the specific information needed to solve a research problem. should be able to provide decision making information
• research design: specifies which research questions must be answered, how and when the data will be gathered, and how the data will be analyzed
• behavioral targeting: a form of observation marketing research that combines a consumer's online activity with psychographic and demographic profiles compiled in databases.
• scanner-based research: a system for gathering information from a single group of respondents by continuously monitoring the advertising, promotion, and pricing they are exposed to and the things they buy
• neuromarketing: a field of marketing that studies the body's responses to marketing stimuli
• competitive intelligence: an intelligence system that helps managers assess their competition and vendors in order to become more efficient and effective competitors
• product modification: changing one or more of a product's characteristics
• Planned obsolescence: The practice of modifying products so those that have already been sold become obsolete before they actually need replacement
• Product line extension: adding additional products to an existing product line in order to compete more broadly in the industry
• brand mark: the elements of a brand that cant be spoken
• brand loyalty: consistent preference for one brand over all others
• manufacturer's brand: brand name of a manufacturer
• captive brand: a brand manufactured by a third party for an exclusive retailer, without evidence of that retailer's affiliation
• trademark: the exclusive right to use a brand or part of a brand
• service mark: a trademark for a service
• generic product name: identifies a product by class or type and cannot be trademarked
• persuasive labeling: a type of package labeling that focuses on a promotional theme or logo; and consumer information is secondary.
• informational labeling: a type of package labeling designed to help consumers make proper product selections and lower their cognitive dissonance after the purchase
• warranty: a confirmation of the quality or performance of a good or service
• new product: a product new to the world, the market, the producer, the seller, or a combination thereof
• product development: a marketing strategy that entails the creation of marketable new products. It is the process of converting applications for new technologies into marketable products
• concept test: a test to evaluate a new product idea usually before any prototype has been created
• brainstorming: the process of getting a group to think of unlimited ways to vary a product or solve a problem
• diffusion: the process by which the adoption of an innovation spreads
• innovation: a product perceived as new by a potential adopter
• product category: all brands that satisfy a particular type of needs