Grundkurs i marknadsföring 1

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• Adoption process The mental process through which an individual passes from first hearing about an innovation to final adoption.
• Age and life-cycle segmentation Dividing a market into different age and life-cycle groups.
• B-to-B digital and social media marketing Using digital and social media marketing approaches to engage business customers and manage customer relationships anywhere, any time.
• Behavioral segmentation Dividing a market into segments based on consumer knowledge, attitudes, uses of a product, or responses to a product.
• Behavioral targeting Using online consumer tracking data and analytics to target advertisements and marketing offers to specific consumers.
• Benchmarking Comparing the company's products and processes to those of competitors or leading firms in other industries to identify best practices and find ways to improve quality and performance.
• Benefit segmentation Dividing the market into segments according to the different benefits that consumers seek from the product.
• Big data The huge and complex data sets generated by today's sophisticated information generation, collection, storage, and analysis technologies.
• Brand equity The differential effect that knowing the brand name has on customer response to the product or its marketing.
• Break-even pricing (target return pricing) Setting price to break even on the costs of making and marketing a product, or setting price to make a target return.
• Business analysis A review of the sales, costs, and profit projections for a new product to find out whether these factors satisfy the company's objectives.
• Business buyer behavior The buying behavior of organizations that buy goods and services for use in the production of other products and services that are sold, rented, or supplied to others.
• Business buying process The decision process by which business buyers determine which products and services their organizations need to purchase and then find, evaluate, and choose among alternative suppliers and brands.
• Business portfolio The collection of businesses and products that make up the company.
• Buzz marketing Cultivating opinion leaders and getting them to spread information about a product or a service to others in their communities.
• By-product pricing Setting a price for by-products to help offset the costs of disposing of them and help make the main product's price more competitive.
• Captive-product pricing Setting a price for products that must be used along with a main product, such as blades for a razor and games for a video-game console.
• Channel level A layer of intermediaries that performs some work in bringing the product and its ownership closer to the final buyer.
• Cognitive dissonance Buyer discomfort caused by postpurchase conflict.
• Commercialization Introducing a new product into the market.
• Competition-based pricing Setting prices based on competitors' strategies, prices, costs, and market offerings.
• Competitive advantage An advantage over competitors gained by offering greater customer value either by having lower prices or providing more benefits that justify higher prices.
• Competitor-centered company A company whose moves are mainly based on competitors' actions and reactions.
• Complex buying behavior Consumer buying behavior in situations characterized by high consumer involvement in a purchase and significant perceived differences among brands.
• Consumer buyer behavior The buying behavior of final consumers—individuals and households that buy goods and services for personal consumption.
• Consumer market All the individuals and households that buy or acquire goods and services for personal consumption.
• Consumer-generated marketing Brand exchanges created by consumers themselves—both invited and uninvited—by which consumers are playing an increasing role in shaping their own brand experiences and those of other consumers.
• Consumer-oriented marketing A company should view and organize its marketing activities from the consumer's point of view.
• Convenience product A consumer product that customers usually buy frequently, immediately, and with minimal comparison and buying effort.
• Corporate VMS A vertical marketing system that combines successive stages of production and distribution under single ownership—channel leadership is established through common ownership.
• Cost-based pricing Setting prices based on the costs of producing, distributing, and selling the product plus a fair rate of return for effort and risk.
• Cost-plus pricing (markup pricing) Adding a standard markup to the cost of the product.
• Cultural environment Institutions and other forces that affect society's basic values, perceptions, preferences, and behaviors.
• Culture The set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions.
• Customer relationship management (CRM) Managing detailed information about individual customers and carefully managing customer touch points to maximize customer loyalty. & The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction.
• Customer satisfaction The extent to which a product's perceived performance matches a buyer's expectations.
• Customer value analysis An analysis conducted to determine what benefits target customers value and how they rate the relative values of various competitors' offers.
• Customer value marketing A company should put most of its resources into customer value-building marketing investments.
• Customer value-based pricing Setting price based on buyers' perceptions of value rather than on the seller's cost.
• Customer-centered company A company that focuses on customer developments in designing its marketing strategies and delivering superior value to its target customers.
• Demand curve A curve that shows the number of units the market will buy in a given time period at different prices that might be charged.
• Demands Human wants that are backed by buying power.
• Demographic segmentation Dividing the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.
• Demography The study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics.
• Differentiated (segmented) marketing A market-coverage strategy in which a firm targets several market segments and designs separate offers for each.
• Differentiation Actually differentiating the market offering to create superior customer value.
• Direct marketing channel A marketing channel that has no intermediary levels.
• Dissonance-reducing buying behavior Consumer buying behavior in situations characterized by high involvement but few perceived differences among brands.
• Diversification Company growth through starting up or acquiring businesses outside the company's current products and markets.
• Dynamic pricing Adjusting prices continually to meet changing conditions and situations in the marketplace.
• Economic environment Economic factors that affect consumer purchasing power and spending patterns.
• Exchange The act of obtaining a desired object from someone by offering something in return.
• Fixed costs (overhead) Costs that do not vary with production or sales level.
• Gender segmentation Dividing a market into different segments based on gender.
• Geographic segmentation Dividing a market into different geographical units, such as nations, states, regions, counties, cities, or even neighborhoods.
• Good-value pricing Offering just the right combination of quality and good service at a fair price.
• Government market Governmental units—federal, state, and local—that purchase or rent goods and services for carrying out the main functions of government.
• Growth-share matrix A portfolio-planning method that evaluates a company's SBUs in terms of market growth rate and relative market share.
• Horizontal marketing system A channel arrangement in which two or more companies at one level join together to follow a new marketing opportunity.
• Idea generation The systematic search for new product ideas.
• Idea screening Screening new product ideas to spot good ones and drop poor ones as soon as possible.
• Individual marketing Tailoring products and marketing programs to the needs and preferences of individual customers.
• Influencer marketing Enlisting established influencers or creating new influencers to spread the word about a company's brands.
• Information search The stage of the buyer decision process in which the consumer is motivated to search for more information.
• Innovative marketing A company should seek real product and marketing improvements.
• Institutional market Schools, hospitals, nursing homes, prisons, and other institutions that provide goods and services to people in their care.
• Intermarket (cross-market) segmentation Forming segments of consumers who have similar needs and buying behaviors even though they are located in different countries.
• Internal databases Collections of consumer and market information obtained from data sources within the company network.
• Macroenvironment The larger societal forces that affect the microenvironment—demographic, economic, natural, technological, political, and cultural forces.
• Market The set of all actual and potential buyers of a product or service.
• Market development Company growth by identifying and developing new market segments for current company products.
• Market offerings Some combination of products, services, information, or experiences offered to a market to satisfy a need or want.
• Market penetration Company growth by increasing sales of current products to current market segments without changing the product.
• Market segment A group of consumers who respond in a similar way to a given set of marketing efforts.
• Market segmentation Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors and who might require separate marketing strategies or mixes.
• Market targeting (targeting) Evaluating each market segment's attractiveness and selecting one or more segments to serve.
• Market-centered company A company that pays balanced attention to both customers and competitors in designing its marketing strategies.
• Market-penetration pricing Setting a low price for a new product in order to attract a large number of buyers and a large market share.
• Market-skimming pricing (price skimming) Setting a high price for a new product to skim maximum revenues layer by layer from the segments willing to pay the high price; the company makes fewer but more profitable sales.
• Marketing The process by which companies engage customers, build strong customer relationships, and create customer value in order to capture value from customers in return.
• Marketing channel (distribution channel) A set of interdependent organizations that help make a product or service available for use or consumption by the consumer or business user.
• Marketing channel design Designing effective marketing channels by analyzing customer needs, setting channel objectives, identifying major channel alternatives, and evaluating those alternatives.
• Marketing channel management Selecting, managing, and motivating individual channel members and evaluating their performance over time.
• Marketing control Measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are achieved.
• Marketing environment The actors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers.
• Marketing implementation Turning marketing strategies and plans into marketing actions to accomplish strategic marketing objectives.
• Marketing information system (MIS) People and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers to use the information to generate and validate actionable customer and market insights.
• Marketing intermediaries Firms that help the company to promote, sell, and distribute its goods to final buyers.
• Marketing management The art and science of choosing target markets and building profitable relationships with them.
• Marketing mix The set of tactical marketing tools—product, price, place, and promotion—that the firm blends to produce the response it wants in the target market.
• Marketing myopia The mistake of paying more attention to the specific products a company offers than to the benefits and experiences produced by these products.
• Marketing research The systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.
• Marketing return on investment (marketing ROI) The net return from a marketing investment divided by the costs of the marketing investment.
• Marketing strategy The marketing logic by which the company hopes to create customer value and achieve profitable customer relationships.
• Marketing strategy development Designing an initial marketing strategy for a new product based on the product concept.
• Maturity stage The PLC stage in which a product's sales growth slows or levels off.
• Microenvironment The actors close to the company that affect its ability to serve its customers—the company, suppliers, marketing intermediaries, customer markets, competitors, and publics.
• Micromarketing Tailoring products and marketing programs to the needs and wants of specific individuals and local customer segments; it includes local marketing and individual marketing.
• Modified rebuy A business buying situation in which the buyer wants to modify product specifications, prices, terms, or suppliers.
• Motive (drive) A need that is sufficiently pressing to direct the person to seek satisfaction of the need.
• Multichannel distribution system A distribution system in which a single firm sets up two or more marketing channels to reach one or more customer segments.
• Natural environment The physical environment and the natural resources that are needed as inputs by marketers or that are affected by marketing activities.
• Need recognition The first stage of the buyer decision process, in which the consumer recognizes a problem or need.
• Needs States of felt deprivation.
• New task A business buying situation in which the buyer purchases a product or service for the first time.
• Opinion leader A person within a reference group who, because of special skills, knowledge, personality, or other characteristics, exerts social influence on others.
• Perception The process by which people select, organize, and interpret information to form a meaningful picture of the world.
• Political environment Laws, government agencies, and pressure groups that influence and limit various organizations and individuals in a given society.
• Portfolio analysis The process by which management evaluates the products and businesses that make up the company.
• Positioning Arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.
• Postpurchase behavior The stage of the buyer decision process in which consumers take further action after purchase, based on their satisfaction or dissatisfaction.
• Price The amount of money charged for a product or service, or the sum of the values that customers exchange for the benefits of having or using the product or service.
• Price elasticity A measure of the sensitivity of demand to changes in price.
• Primary data Information collected for the specific purpose at hand.
• Product Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need.
• Product adaptation Adapting a product to meet local conditions or wants in foreign markets.
• Product development Company growth by offering modified or new products to current market segments.
• Product development Developing the product concept into a physical product to ensure that the product idea can be turned into a workable market offering.
• Product invention Creating new products or services for foreign markets.
• Product life cycle (PLC) The course of a product's sales and profits over its lifetime.
• Product line A group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlets, or fall within given price ranges.
• Product line pricing Setting the price steps between various products in a product line based on cost differences between the products, customer evaluations of different features, and competitors' prices.
• Product mix (or product portfolio) The set of all product lines and items that a particular seller offers for sale.
• Product position The way a product is defined by consumers on important attributes—the place it occupies in consumers' minds relative to competing products.
• Product quality The characteristics of a product or service that bear on its ability to satisfy stated or implied customer needs.
• Promotional pricing Temporarily pricing products below the list price, and sometimes even below cost, to increase short-run sales.
• Psychographic segmentation Dividing a market into different segments based on lifestyle or personality characteristics.
• Psychological pricing Pricing that considers the psychology of prices and not simply the economics; the price is used to say something about the product.
• Sales force management Analyzing, planning, implementing, and controlling sales force activities.
• Secondary data Information that already exists somewhere, having been collected for another purpose.
• Segmented pricing Selling a product or service at two or more prices, where the difference in prices is not based on differences in costs.
• Selective distribution The use of more than one but fewer than all of the intermediaries that are willing to carry the company's products.
• Service An activity, benefit, or satisfaction offered for sale that is essentially intangible and does not result in the ownership of anything.
• Service inseparability Services are produced and consumed at the same time and cannot be separated from their providers.
• Service intangibility Services cannot be seen, tasted, felt, heard, or smelled before they are bought.
• Service perishability Services cannot be stored for later sale or use.
• Service variability The quality of services may vary greatly depending on who provides them and when, where, and how they are provided.
• Shopping product A consumer product that the customer, in the process of selecting and purchasing, usually compares on such attributes as suitability, quality, price, and style.
• Social marketing The use of traditional business marketing concepts and tools to encourage behaviors that will create individual and societal well-being.
• Straight rebuy A business buying situation in which the buyer routinely reorders something without modifications.
• Strategic planning The process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities.
• Subculture A group of people with shared value systems based on common life experiences and situations.
• SWOT analysis An overall evaluation of the company's strengths (S), weaknesses (W), opportunities (O), and threats (T). Systems selling (or solutions selling) Buying a packaged solution to a problem from a single seller, thus avoiding all the separate decisions involved in a complex buying situation.
• Technological environment Forces that create new technologies, creating new product and market opportunities.
• Undifferentiated (mass) marketing A market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer.
• Unsought product A consumer product that the consumer either does not know about or knows about but does not normally consider buying.
• Value chain The series of internal departments that carry out value-creating activities to design, produce, market, deliver, and support a firm's products.
• Value delivery network A network composed of the company, suppliers, distributors, and, ultimately, customers who partner with each other to improve the performance of the entire system in delivering customer value.
• Value proposition The full positioning of a brand—the full mix of benefits on which it is positioned.
• Value-added pricing Attaching value-added features and services to differentiate a company's offers and charging higher prices.
• Variety-seeking buying behavior Consumer buying behavior in situations characterized by low consumer involvement but significant perceived brand differences.
• Vertical marketing system (VMS) A channel structure in which producers, wholesalers, and retailers act as a unified system. One channel member owns the others, has contracts with them, or has so much power that they all cooperate.
• Wants The form human needs take as they are shaped by culture and individual personality.
• Word-of-mouth influence The impact of the personal words and recommendations of trusted friends, family, associates, and other consumers on buying behavior.

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