week 6 Flashcards
(20 cards)
Competition between different types of products within a particular product category
Product competition
Competition between alternative product lines that may satisfy the same consumer need.
Generic competition
Rivalry between different kinds of needs on which the consumer is willing to spend money
Need competition
Group of competitors with common strategic features (e.g. location, size), strengths (product range, distribution intensity) and strategies (growth strategies, positioning).
Strategic group
Outside forces (e.g. the economic climate) that a firm can neither control nor influence but do affect its strategies and performance.
Macroenvironmental factors
Comparison of your own business performance and strategies with those of other organizations in order to improve them
Benchmarking
Pattern of a phenomenon over time that is part of the external environment and may lead to marketing opportunities
Trend
A consumer’s after-tax income available for spending and savings.
Disposable personal income
Influencing government officials to create legislation to enact, defeat or change certain laws, or to conduct other activities to protect a company’s interests.
Lobbying
Developing or modifying and marketing products that are environmentally safe, which may include changing the production process, packaging, and promotion strategies
Green marketing
Use of barcodes to identify products in a distribution system or to create a database of sales per store, enabling automated inventory management as an input for strategy development.
Scanning
Consumers’ buying habits, use and eventual disposal of products.
Consumption pattern
Product or service that can easily replace a similar product or service.
Substitute
Someone’s moral principles, values and personal standards (a deeply rooted sense of what’s right or wrong) that affect his actions and decisions.
Ethics
An organization’s commitment to maximize its positive and to minimize its negative impact on society
Social responsibility
A marketeer’s principles and ethical standards that guide his marketing decisions and behaviour.
Marketing ethics
The norms, ideas and values that the members of an organization share, which influence the way they think and communicate as well as their relationships and management style.
Corporate culture
Strategic approach to corporate philanthropy through linking the company’s products to a social issue, usually by contributing money for each product that consumers buy.
Cause-related marketing
The (limited) number of brands that someone considers in making a purchase decision.
Evoked set
Unpleasant feeling of doubt about the brand choice after making an important purchase decision.
Cognitive dissonance
