Marketing Essentials: Research, Products, Pricing, Distribution, and Promotion

This set of flashcards covers vocabulary terms from Chapters 6, 9, 10, 11, 12, and 13, focusing on marketing research, product development, pricing, distribution, and promotional strategies.

Marketing Research

An essential system that provides the information necessary for identifying market threats, opportunities, and the characteristics of environmental components.

Fundamental Research

Research aimed at establishing and evaluating marketing concepts, theories, and instruments for data measurement and analysis.

Applied Research

Research focused on finding answers to specific real-world problems or opportunities.

Quantitative Research

Research used to quantify market segments for goods and services in the growth or maturity phase.

General Hypotheses

Responses to a research question that serve to set the basic directions of the study.

Research Objectives

The purpose of the research expressed in measurable terms, defining exactly what the study must achieve.

Observation

The process of recording the behavioral patterns of people, objects, and events without communication between the observer and the subjects.

Survey (Ancheta)

The primary method of obtaining primary data by communicating with a representative sample of a target population.

Scaling

The process of measuring opinions, preferences, characteristics, or behaviors.

Nominal Scale

A scale that classifies data without ordering or measuring; a binary version uses only "yes" and "no" responses.

Ordinal Scale

A scale that allows for classification and ordering but does not measure the distance between values.

Likert Scale

A frequently used ordinal scale in marketing research that measures the level of agreement with various statements.

Semantic Differential Scale

An ordinal scale designed by Osgood used to measure attitudes or images using bipolar adjectives.

Interval Scale

A scale that allows for classification, ordering, and measurement of distance between values with equal intervals, but lacks an absolute zero.

Proportional Scale

A scale featuring all properties of other scales plus an absolute zero; examples include direct measurement or constant sum scales.

Open-ended Questions

Questions where the respondent has full freedom to answer in their own words.

Closed-ended Questions

Questions that require the subject to indicate one or more of the provided possible answers.

Sample (Eșantion)

A small group of persons or units chosen from a total population used to study and estimate characteristics of the entire population.

Non-random Sampling

A subjective selection process where the probability of including specific individuals is unknown and based on the researcher's judgment.

Product

Anything offered to a market for acquisition, use, or consumption that can satisfy a need or a desire.

Augmented Product (Produs amplificat)

A level of product definition involving a series of features and services that exceed buyer requirements to offer new benefits.

Product Total/Global (Metaprodus)

The concept that marketing focuses not just on the physical product, but the entire ambiance including associated services, information, and symbols.

Impulse Goods

Unplanned purchases generated by a visual stimulus such as packaging.

Product Life Cycle (CVP)

The evolution of a product's sales and profits over time, consisting of four phases: Launch, Growth, Maturity, and Decline.

Market Development

A strategy used in the maturity phase where a firm attempts to expand consumption by appealing to non-consumers or new market segments.

Matricea BCG1

A two-dimensional matrix analyzing products as investments based on relative market share and market growth rate.

Cash Cows (Vaci pentru muls)

Products with high market share in low-growth markets that generate high sales at low capital costs without requiring large investments.

Stars (Vedete)

Leading products with high growth and high market share that generate high profits but require massive, continuous capital investment.

Dilemmas (Dileme)

Products in the launch phase with high growth rates (above 10%) but low relative market share (under 1).

Dogs (Pietre de moară)

Products with both low market growth and low relative market share that should be eliminated from the portfolio.

BCG2 Matrix

A matrix based on the level of competitive advantage and the possibilities for competitive differentiation of a product.

Price

The exchange value of goods based on their utility, rarity, and the value buyers attribute to them based on their needs.

Pure and Perfect Competition

A market structure with many suppliers and many buyers where no single participant can influence price levels.

Monopoly

A market structure with one supplier and numerous buyers where the supplier plays the dominant role in price formation.

Oligopoly

A market with a few suppliers who are highly dependent on one another when setting prices.

Price Skimming (Strategia de stratificare)

Setting a very high initial price and gradually reducing it over time to limit demand when supply is low.

Psychological Pricing

Setting prices based on a consumer's reference price or using specific endings like 99.99 lei.

Penetration Pricing

Setting a low initial price to quickly open markets with a high number of potential consumers.

Functional Discount (Rabat comercial)

Price reductions offered to distribution channel members to cover expenses and ensure profit for the beneficiary.

Distribution

The process of making goods and services available to consumers by providing facilities for place, time, size, and quality.

Wholesaling (Vânzarea cu ridicata)

Selling products in large quantities to firms or shops rather than directly to the final consumer.

Retailing (Vânzarea cu amănuntul)

Selling products in small quantities directly to the final consumer.

Channel Length

The dimension of a distribution channel defined by the number of intermediaries between the producer and the final consumer.

Channel Depth

The measure of how close a distributor is to the effective points of consumption, such as home delivery.

Vertical Distribution System

A unified system where producers, wholesalers, and retailers act together through ownership, contracts, or the power of one strong link.

Extensive Distribution

Distributing a product through as many outlets as possible to make it easily accessible to a large number of consumers.

Exclusive Distribution

Selling a product through only one distributor or a very small number of stores in a specific area to maintain prestige.

Commercial Communication

Communication aimed at increasing sales volume by improving awareness and image while stimulating purchase.

Encoding (Codificarea)

The process of transposing an idea or concept into a combination of signs such as images, drawings, text, or words.

AIDA Model

The mental process consumers go through before buying: Attention, Interest, Desire, and Action.

Advertising (Reclama)

Paid, non-personal, and persuasive communication concerning goods, services, or ideas transmitted to a large target audience.

Push Strategy (Strategia de împingere)

A strategy where each member of the distribution channel "pushes" the product to the next participant until it reaches the client.

Pull Strategy (Strategia de tragere)

Marketing activities directed at final consumers to make them request products from intermediaries.