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AMPD 4030 - test 3
N/A
67
Other
Undergraduate 3
03/21/2012

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Cards

Term
Birthrate
Definition
The number of babies born per year
Term
Consumer Confidence
Definition
How consumers feel about the state of the economy
Term
Consumerism
Definition
(1) The movement protecting consumers by requiring honest packaging and product guarantees (2)The theory that the greater consumption of economic goods is beneficial (3) The attachment to materialistic values and possessions
Term
Demographics
Definition
The measurable statistics concerning a population, particularly its size, composition, and distribution
Term
Discretionary Income
Definition
The amount of money consumers have after meeting all the expenditures for necessities
Term
Disposable Income
Definition
The amount of money, after taxes, that people have left for necessities such as food, shelter, utilities, and transportation
Term
Geo-demographics System
Definition
A consumer-measuring technique combining geography and demographics, first devised by Claritas Corp
Term
Immigration
Definition
The influx of people into a country from another country
Term
Income
Definition
The money and other assets that people typically receive in a year from their work, property, and other investments
Term
Life Expectancy
Definition
The length of time people will live, and how long they can be productive in the economy and in society
Term
Lifestyles
Definition
An individual's distinctive way of living; a pattern that influences a person's choice in all areas of life, from how to spend time to how to spend money
Term
Materialism
Definition
The importance that we attach to the things we own
Term
Per Capita Personal Income
Definition
The total income of a prescribed area divided by the total population
Term
PRIZM NE (Potential Rating Index by ZIP Code - New Evolution)
Definition
A geodemograpgic method of segmenting markets by ZIP codes, and then combining demographics (such as income and education) with lifestyles, thus identifying areas of similar consumer behavior throughout the United States
Term
Attitude Scales
Definition
Research questionnaire tool through which respondents can indicate their level of favorable or unfavorable opinion across a range of answers
Term
Count
Definition
Observational research method whereby on observer or team of observers keep a written tally of the category being studied
Term
Depth Interview
Definition
A qualitative research method that involves one participant offering thoughts and opinions to a researcher
Term
Focus Group
Definition
Qualitative research method that gathers a small group of consumers with a moderator to discuss and offer opinions about a product, service, or other marketing-related topic
Term
Likert Scale
Definition
Quantitative research tool that presents a statement and asks consumers to select a degree of agreement or disagreement with the statement
Term
Magalog
Definition
Shopping magazines such as Lucky, featuring fashion, and Domino, showcasing home decor
Term
Marketing Research
Definition
The process of analyzing a given marketing opportunity or problem finding solution though understanding the behaviors and preferences of the market's consumers
Term
Objectives
Definition
The specific information marketers want to learn though a research study
Term
Primary Research
Definition
Creating an original study to match specifically - you have to fing it
Term
Qualitative Research
Definition
Research that is subjective, focusing on peoples opinions and attitudes towards a product or service
- open ended questions
- obtain information & have to code it
- TYPES: Focus groups: guided discussion among a small group of consumers
Depth interview: one-on-one session between a consumer and researcher
-Product seeding: like product placement
Term
Quantitative Research
Definition
Research that is objective, focusing on collecting numbers and facts that can be analyzed statistically
- closed ended question
- the way we are doing research
- can be done on web, email, website or in person by an interviewer (by phone, at a store or mail, ect.)
- attitude scales that allows consumers to express feeling
Term
Secondary Research
Definition
Locating data from existing sources that meets a studies research objectives
- specific thing that your looking at
- Advantage: Saves time and expense of conducting original studies
- Sources: Government agencies, market research firms, newspapers & magazines, trade associations, textbooks, ect.
Term
Trunk Show
Definition
Fashion event in which a designer or a manufacturer brings an entire line to a local store for customers to see and buy
Term
Research Methodologies
Definition
Quantitative & qualitative research
Term
Traditional Media
Definition
Print
Broadcasting
Fashion shows
In-store displays and promotions
Term
How Fashion Marketers Communicate with Consumers
Definition
Traditional Media & New Media
Term
Store Environment
Definition
The way stores put you in the mood to buy/use the things that they sell
Term
New Media
Definition
Email, E-zines, Interactive Web sites, Blogs, Text messages, Word-of-mouth
Term
Problem
Definition
Difference between current state and desired state
Term
Decision Making Process
Definition
1) problem awareness
2) Collect Information about alternative solutions
3)Review and Evaluate the Alternatives
4)Select the Best Alternative
Term
Collect Information about alternative
Definition
Influences, past experiences, - levels of involvement: high medium low - Perceived Risk: the chances for loss, physical, physiological
Term
Review and Evaluate the Alternatives
Definition
Personalize and priotitize the alternatives
Consider brand equality as needed
Refer to marketing materials for appropriate education
Term
Select the Best Alternative
Definition
Consumers job
- compare total benefits
Term
After Purchase Evaluation
Definition
Has it met your expectations
Term
Types of Decision Making
Definition
Rational, behavioral, and Experiential
Term
Marketing Habits
Definition
Heuristics

Inertia

Ethnocentrism (we are the better culture & the norm)VS. Xenocentrism

Relativism (knowledge truth)
Term
Behavioral Perspective
Definition
The use of actions that consumers have learned to specific stimuli as a basis for decision making
Term
Ethnocentrism
Definition
Situation in which individuals make consumption choices that relate specifically to their own culture
Term
Experiential Perspective
Definition
Use of the overall experience as opposed to a particular decision criterion in decision making
Term
Extensive decision making
Definition
Decision making process in which the consumer weighs the pros and cons, along with the perceived risks and benefits
Term
External recognition
Definition
Awareness of a need or "problem" that is stimulated by others such as marketers
Term
Heuristics
Definition
Simple mental rules of thumb that helps us make decisions more quickly
Term
Inertia habit
Definition
Act of completing a consumption activity or buying the same brand because it takes little or no energy
Term
Information collection
Definition
The search for and selection of data that provide an adequate foundation for making good decisions
Term
Information filtering
Definition
The process of sorting through collected data, then prioritizing and selecting that which best meets our information objective
Term
Internal recognition
Definition
Awareness of a need or "problem" that originates within an individual
Term
Limited decision making
Definition
Process of decision making that involves some thought, but frequently involves general rules of thumb we've learned or borrowed from others
Term
Problem awareness
Definition
State in which a consumer perceives an inbalance between his or her current ("as is") situation and an ideal ("should be") situation
Term
Perceived risk
Definition
The risk a customer believes exists in the purchase of goods or services whether or not a risk actually exists
Term
Rational perspective
Definition
The use of logically based, left-brain thinking to process information and carefully review the pros and cons of a decision
Term
Routine/habitual decision making
Definition
Situation in which not much thought is needed to reach a decision
Term
Classic Style
Definition
A style or fashion that is characterized by a simplicity of design that keeps it from becoming easily dated
Term
Decline Phase
Definition
Stage in fashion's life cycle when it is experiencing decreasing sales and availability only in the lower price ranges
Term
Fad
Definition
A short-lived fashion that burst onto the scene, is wildly popular among a target group of consumers, and then disappears
Term
Fashion Followers
Definition
People who adopt a look only after they are sure of a fashion trend
Term
Fashion Life Cycle
Definition
The length of time a given look or style is popular
Term
Fast Fashion
Definition
Term for offering consumers the latest fashions as quickly as possible
Term
Introduction Phase
Definition
Stage of the fashion life cycle when a new life style fist appears
Term
Multi-channel retailing
Definition
The use of catalogs, stores, and the Internet in a coordinated marketing plan
Term
Obsolescence or Rejection Phase
Definition
Stage that marks the end of a style's fashion life cycle, indicating that the look is out-of-date and no longer being sold
Term
Peak Phase
Definition
Stage in of the fashion cycle when a style is at the height of its acceptance and popularity
Term
Rise Phase
Definition
The period of the fashion cycle when a look is growing in popularity
Term
Knock-offs
Definition
Fashion industry term for copies of the original
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