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MKTG Exam 2 Study Guide COLORS

Cross tabulation a method of analyzing data that lets

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Cross-tabulation = a method of analyzing data that lets the analyst look at the responses to one question in relation to the responses to one or more other questions (EX: what is the association between gender and the brand of microwave popcorn bought) The Profound Impact of the Internet on Marketing Research Consumer-generated media (CGM) = media that consumers generate and share among themselves (EX: blogs, message boards etc…more trusted than traditional forms of advertising) Scanner-Based Research 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 the things they buy (2 major scanner based suppliers: Information Resources, Inc. & A.C. Nielsen Company) BahaviorScan = a scanner-based research program that tracks the purchases of 3,000 households through store scanner in each research market (IRI 1 st product) InfoScan = a scanner-based sales-tracking service for the consumer packaged-goods industry (IRI) Neuromarketing = a field of marketing that studies the body’s responses to marketing stimuli Competitive Intelligence Competitive Intelligence (CI) = an intelligence system that helps managers assess their competition and vendors in order to become more efficient an defective competitors Chapter 10: Product Concepts - Product offering (heart of marketing program) is the starting point in creating a marketing mix Product = everything, both favorable and unfavorable, that a person receives in an exchange Types of Consumer Products Business product (industrial product) = a product used to manufacture other goods or services, to facilitate an organization’s operations, or to resell to other customers Consumer product = a product bought to satisfy an individual’s personal wants Convenience product = a relatively inexpensive item that merits little shopping effort (EX: candy, asprin, dry cleaning, etc) Shopping product = a product that requires comparison shopping because it is usually more expensive than a convenience product and is found in fewer stores (homogeneous – washers, dryers, refrigerators; heterogeneous- furniture, clothing, housing, universities) Specialty product = a particular item that consumers search extensively for and are very reluctant to accept substitutes Unsought product = a product unknown to the potential buyer or a known product that the buyer does not actively seek Product Items, Lines and Mixes Product item = a specific version of a product that can be designated as a distinct offering among an organization’s products (EX: Campbell’s Cream of Chicken soup) Product line = a group of closely related product items (EX: one of Campbell’s product lines “soups”) Product mix = all products that an organization sells (EX: all of Campbell’s products- soups, sauces etc) Product mix width = the number of product lines an organization offers (EX: Campbell offering 5 product lines) Product line depth = the number of product items in a product line (EX: sauces has 4 product items)
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