Chapter 8 Vocab

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Across
  1. 3. marketing promotion in which a satisfied customer tells others about their positive experience with a good or service
  2. 6. image a company promotes and the connotations it fosters of itself and its products
  3. 7. specific group of consumers for which a company seeks to provide a good or service
  4. 8. separating the total population by homogeneous groups of people that have similar tastes, backgrounds, lifestyles, demographics, and culture
  5. 10. value that must be exchanged in order for a customer to receive a product or service
  6. 11. basic set of possible strategies and approaches that marketers use to reach their target market
  7. 12. short and catchy positioning statement that quickly communicate some core aspect of the brand to the consumer
  8. 15. good or a service that creates value by fulfilling a customer need or desire
  9. 16. chain of procedures and/or activities required to provide the product to the customer
  10. 17. environment where a service takes place or a product is manufactured
  11. 19. research use of personal observation of the subject by being immersed in the subject’s environment
  12. 20. survey tool in which respondents must rank, choose, or a rate a number of “conjoint,” or linked, features or benefits
  13. 22. process of communicating value to customers in a way that encourages them to buy
  14. 26. marketing that focuses on connecting with constituents by developing goodwill
  15. 28. collection and analysis of data related to a business’s target market
  16. 29. short song or sound that brands a product or company and helps to promote it
  17. 30. marketing creative approaches to marketing that seek to gain maximum exposure through unconventional means
Down
  1. 1. pricing pricing led by what the customer is willing to pay
  2. 2. research generation of numerical data through techniques such as surveys and questionnaires
  3. 4. group of people participating in market research
  4. 5. total perceived demand for a product or service within the marketplace
  5. 9. umbrella term given to those activities that companies use to identify consumers and convert them into buyers
  6. 13. mass communication that allows companies to reach a broad audience through TV, radio, newspaper, Internet, magazines, and outdoor ads
  7. 14. online communication tool for entrepreneurs to connect with consumers, especially younger demographics
  8. 15. company’s human resources
  9. 16. channels or locations—physical or digital—where products can be found by customers
  10. 18. research use of open-ended techniques such as observation, focus groups, and interviews to gain an understanding of customers’ basic reasons, opinions, and motivations
  11. 21. portion of the market that a business can serve based on its products, services, and location
  12. 23. marketing that uses engaging content in the hopes that viewers will share it on their personal and social media networks
  13. 24. pricing easiest way to price a product by taking the cost of making the product and marking it up to create profit
  14. 25. selling using face-to-face interactions to communicate and influence a customer to make a purchase
  15. 27. pricing charging a price above a competitor’s price