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All the individual and units that play role in the purchase decision-making process [blank_start]Buying center[blank_end]
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Buying center
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Carefully analyzing a product or service's components to determine if they can be redesigned and made more effectively and efficiently to provide greater value [blank_start]Product value analysis[blank_end]
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Product value analysis
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Purchasing through electronic connections between buyers and sellers - usually online [blank_start]E-procurement[blank_end]
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E-procurement
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Put purchasing request online and invite suppliers to bid for the business [blank_start]Reserve auctions[blank_end]
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Reserve auctions
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Companies work collectively to facilitate the trading process [blank_start]Trading exchange[blank_end]
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Trading exchange
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Dividing a market into different geographical units, such as nations, states, regions, counties, cities, or even neighborhoods [blank_start]Geographic segmentation[blank_end]
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Geographic segmentation
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Dividing the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation [blank_start]Demographic segmentation[blank_end]
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Demographic segmentation
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Dividing a market into different age and life-cycle groups [blank_start]Age and life-cyle segmentation[blank_end]
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Age and life-cyle segmentation
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Dividing a market into different segments based on gender [blank_start]Gender segmentation[blank_end]
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Gender segmentation
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Dividing a market into different income segments [blank_start]Income segmentation[blank_end]
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Income segmentation
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Dividing a market into different segments based on social class, lifestlye, or personality characteristics [blank_start]Psychographic segmentation[blank_end]
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Psychographic segmentation
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Dividing a market into segments based on consumer knowledge, attitudes, use of a product, or responses to a product [blank_start]Behavioral segmentation[blank_end]
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Behavioral segmentation
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Dividing the market into segments according to occasions when buyers get the idea to buy, actually make their purchase, or use the purchased item [blank_start]Ocassion segmentation[blank_end]
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Occassion segmentation
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Dividing the market into segments according to the different benefits that consumers seek from the product [blank_start]Benefit segmentation[blank_end]
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Benefit segmentation
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Forming segments to consumers who have similar needs and buying behaviors even though they are located in different countries [blank_start]Intermarket (cross-market) segmentation[blank_end]
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Intermarket (cross-market) segmentation
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A set of buyers sharing common needs or characteristics that the company decides to serve [blank_start]Target market[blank_end]
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Target market
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A market-coverage strategy in which a firm decides to ignore the market segment differences and go after the whole market with one offer [blank_start]Undifferentiated (mass) marketing[blank_end]
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Undifferentiated (mass) marketing
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A market-coverage strategy in which a firm decides to target several market segments and designs separate offer for each [blank_start]Differentiated (segmented) marketing[blank_end]
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Differentiated (segmented) marketing
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A market-coverage strategy in which a firm goes after a large share of one or a few segments or niches [blank_start]Concentrated (niche) marketing[blank_end]
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Concentrated (niche) marketing
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Tailoring products and marketing programs to the neds and wants of specific individuals and local customer segments; it includes local marketing and individual marketing [blank_start]Micromarketing[blank_end]
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Micromarketing
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Tailoring brands and marketing to the needs and wants of local customer segments - cities, neighborhoods, and even specific stores [blank_start]Local marketing[blank_end]
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Local marketing
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Tailoring products and marketing programs to the needs and preferences of individual customers [blank_start]Individual marketing[blank_end]
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Individual marketing
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The way a product is defined by customers on important attributes - the place the product occupies in consumer's minds relative to competing products [blank_start]Product position[blank_end]
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Product position
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An advantage over competitors gained by offering greater customer value, either by having lower prices or providing more benefits that justify higher prices [blank_start]Competitive advantage[blank_end]
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Competitive advantage
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The full positioning of a brand - the full mix of benefits on which it is positioned [blank_start]Value proposition[blank_end]
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Value proposition
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Anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or a need [blank_start]Product[blank_end]
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Product
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An activity, benefit or satisfaction offered for sale that is essentially intangible and does nor result in the ownership of anything [blank_start]Service[blank_end]
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Service
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A product bought by final consumers for personal consumption [blank_start]Consumer product[blank_end]
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Consumer product
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A consumer product that customers usually buy frequently, immediately, and with minimal comparison and buying effort [blank_start]Convenience product[blank_end]
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Convenience product
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A consumer product that the customer, in the process of selecting and purchasing, usually compares on such attributes as suitability, quality, price, and style [blank_start]Shopping product[blank_end]
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Shopping product
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A consumer product with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort [blank_start]Specialty product[blank_end]
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Specialty product
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A consumer product that the consumer either does not know about or knows about but does not normally consider buying [blank_start]Unsought product[blank_end]
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Unsought product
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A product bought by individuals and organizations for further processing or for use in conducting a business [blank_start]Industrial product[blank_end]
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Industrial product
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