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Marketing (Fach) / Definitions (Lektion)

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• Reference Group A group in society that influences an individual’s purchasing behavior
• Opinion Leader An individual who influences the opinions of others
• Personality : A way of organizing and grouping the consistencies of an individual’s reactions to situations.
• Self-Concept How consumers perceive themselves in terms of attitudes, perceptions, beliefs, and self-evaluations
• Ideal Self-Image The way an individual would like to be
• Lifestyle: A mode of living as identified by a person’s activities, interests, and opinions
• Psychographics The analytical technique used to examine consumer lifestyles and to categorize consumers.
• Perception The process by which people select, organize, and interpret stimuli into a meaningful and coherent picture.
• Motive: A driving force that causes a person to take action to satisfy specific needs
• Maslow’s Hierarchy of Needs A method of classifying human needs and motivations into five categories in ascending order of importance: physiological, safety, social, esteem, and self-actualization.
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• Learning A process that creates changes in behavior, immediate or expected, through experience and practice
• Belief An organized pattern of knowledge that an individual holds as true about his or her world.
• Attitude A learned tendency to respond consistently toward a given object.
• Market People or organizations with needs or wants and the ability and willingness to buy
• Market Segment A subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs.
• Market Segmentation The process of dividing a market into meaningful, relatively similar, and identifiable segments or groups.
• Segmentation Bases (Variables) Characteristics of individuals, groups, or organizations.
• Geographic Segmentation Segmenting markets by a region of a country or the world, market size, market density, or climate
• Demographic Segmentation Segmenting markets by age, gender, income, ethnic background, and family life cycle.
• Family Life Cycle (FLC) A series of stages determined by a combination of age, marital status, and the presence or absence of children.
• Psychographic Segmentation Market segmentation on the basis of personality, motives, lifestyles, and geodemographics.
• Geodemographic Segmentation Segmenting potential customers into neighborhood lifestyle categories.
• Benefit Segmentation The process of grouping customers into market segments according to the benefits they seek from the product.
• Usage-Rate Segmentation Dividing a market by the amount of product bought or consumed.
• Undifferentiated Targeting Strategy A marketing approach that views the market as one big market with no individual segments and thus uses a single marketing mix.
• Concentrated Targeting Strategy A strategy used to select one segment of a market for targeting marketing efforts.
• Niche : One segment of a market.
• Multisegment Targeting Strategy A strategy that chooses two or more well-defined market segments and develops a distinct marketing mix for each
• Cannibalization A situation that occurs when sales of a new product cut into sales of a firm’s existing products.
• Positioning Developing a specific marketing mix to influence potential customers’ overall perception of a brand, product line, or organization in general.
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• Position The place a product, brand, or group of products occupies in consumers’ minds relative to competing offerings.
• Product Differentiation A positioning strategy that some firms use to distinguish their products from those of competitors
• Repositioning Changing consumers’ perceptions of a brand in relation to competing brands
• Marketing Information Everyday information about developments in the marketing environment that managers use to prepare and adjust marketing plans.
• Marketing Research The process of planning, collecting, and analyzing data relevant to a marketing decision.
• 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 marketing research problem; the objective should be to provide insightful decision-making information.
• Secondary Data Data previously collected for any purpose other than the one at hand.
• Primary Data Information that is collected for the first time; used for solving the particular problem under investigation
• Survey Research The most popular technique for gathering primary data, in which a researcher interacts with people to obtain facts, opinions, and attitudes.
• Mall/ High Street Shopping Intercept Interview A survey research method that involves interviewing people in the common areas of shopping malls, shopping centres or high streets.
• Central-Location Telephone (CLT) facility : A specially designed phone room used to conduct telephone interviewing.
• Executive Interviews A type of survey that involves interviewing businesspeople at their offices concerning industrial products or services.
• Focus Group Seven to ten people who participate in a group discussion led by a moderator.
• Open-Ended Question An interview question that encourages an answer phrased in the respondent’s own words.
• Closed-Ended Question An interview question that asks the respondent to make a selection from a limited list of responses.
• Scaled-Response Question A closed-ended question designed to measure the intensity of a respondent’s answer.
• Observation Research A research method that relies on four types of observation: people watching people, people watching an activity, machines watching people, and machines watching an activity.
• Mystery Shoppers Researchers posing as customers who gather observational data about a store.
• Ethnographic Research The study of human behavior in its natural context, involves observation of behavior and physical setting. A core belief is that if you want to understand a cultural group you need to spend time with them in their environment.

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