behavioural variables: Consumer characteristics based on the use of a product, benefits expected from it, reasons for purchasing it, and loyalty to it.

brand competition: Competitive marketing that appeals to consumer perceptions of similar products.

brand loyalty: Pattern of regular consumer purchasing based on satisfaction with a product.

consumer behaviour: The study of the process by which customers come to purchase and consume a product or service.

consumer goods: Products purchased by individuals for their personal use.

data mining: Application of electronic technologies for searching, sifting, and reorganizing data to collect marketing information and target products in the marketplace.

data warehousing: Process of collecting, storing, and retrieving data in electronic form.

demographic variables: Characteristics of populations that may be considered in developing a segmentation strategy.

distribution: That part of the marketing mix concerned with getting products from the producer to the buyer, including physical transportation and choice of sales outlets.

emotional motives: Those reasons for purchasing a product that involve non-objective factors.

experimentation: A market research technique in which the reactions of similar people are compared under different circumstances.

external environment: Outside factors that influence marketing programs by posing opportunities or threats.

focus group: A market research technique involving a small group of people brought together and allowed to discuss selected issues in depth.

geographic variables: Geographical units that may be considered in a segmentation strategy.

industrial goods: Products purchased by companies to use directly or indirectly to produce other products.

industrial market: Businesses that buy goods to be converted into other products that will be sold to ultimate consumers.

institutional market: Nongovernment organizations such as hospitals, churches, and schools.

international competition: Competitive marketing of domestic against foreign products.

market research: The systematic study of what buyers need and how best to meet those needs.

market segmentation: Dividing a market into categories according to traits customers have in common.

marketing concept: The idea that the whole firm is directed toward serving present and potential customers at a profit.

marketing managers: Managers responsible for planning and implementing all the marketing-mix activities that result in the transfer of goods or services to customers.

marketing mix: The combination of product, pricing, promotion, and distribution strategies used in marketing a product.

marketing plan: A detailed strategy for gearing the marketing mix to meet consumer needs and wants.

marketing: Planning and executing the development, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy both buyers' and sellers' objectives.

observation: A market research technique involving viewing or otherwise monitoring consumer buying patterns.

price: That part of the marketing mix concerned with choosing the appropriate price for a product to meet the firm's profit objectives and buyers' purchasing objectives.

primary data: Information developed through new research by the firm or its agents.

product differentiation: The creation of a product or product image that differs enough from existing products to attract consumers.

product: A good, service, or idea that satisfies buyers' needs and demands.

psychographic variables: Psychological traits that a group has in common, including motives, attitudes, activities, interests, and opinions.

rational motives: Those reasons for purchasing a product that involve a logical evaluation of product attributes such as cost, quality, and usefulness.

relationship marketing: A type of marketing that emphasizes lasting relationships with customers and suppliers.

reseller market: Intermediaries like wholesalers and retailers who buy finished products and resell them.

secondary data: Information already available to market researchers as a result of previous research by the firm or other agencies.

services: Intangible products, such as time, expertise, or an activity that can be purchased.

substitute product: A product that is dissimilar from those of competitors but that can fulfill the same need.

survey: A market research technique based on questioning a representative sample of consumers about purchasing attitudes and practices.

target market: Any group of people who have similar wants and needs and may be expected to show interest in the same product(s).

utility: Ability of a product to satisfy a human want or need.

value: Relative comparison of a product's benefits versus its costs.

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