Major Re-Purchase Decision
Type of consumer purchase decision that is important to the consumer but the consumer feels confident making these decisions since they have previous experience purchasing the product.
Franchised Channel Arrangement
A form of contractual dependent channel arrangement where a central organization (franchisor) controls nearly all activities of other members (franchisee).
Decline Stage of PLC
Stage within the Product Life Cycle which occurs when the market is no longer able to sustain sales levels for a product as sales are decreasing at increasing rates compared to previous periods.
A method of research that is often highly structured and controlled in which one variable, called the independent variable, is manipulated to see how it may effect another variable, called the dependent variable.
The planned direction the marketing effort takes over some period of time that serves as a general guide to decision-making.
A form of promotional price adjustment that offers a product at a price considered to be lower than the normal selling price such as temporary sale pricing and lower pricing intended to remove extra inventory.
In marketing this is web-based technology that allows real-time communication between customers and company personnel through the exchange of text messaging within a web browser.
A process for setting the initial price for a product that relies on analysis of market research to determine what customers perceive as an acceptable price and includes such methods as Backward Pricing, Psychological Pricing and Price Lining.
Full-Service Market Research Firm
Research companies that develop and carryout all aspects of a market research plan for their clients.
Concerns statistics that describe a population such as age, education level, income, etc., and in marketing is used as a market segmentation variable.
Refers to disagreements that arise within a channel when a channel member's decisions affect (often negatively) the business operations of other members.
Found within the Culture component of the external influences on consumer buying behavior, this concept represents smaller groups sharing similar values such as ethnicity, geographic location, and special interests.
Used in marketing for market segmentation, this variable describes and groups customers by combining psychological characteristics (e.g., personality, attitude, lifestyle) with demographic characteristics (e.g., age, gender, income level).
A concept in consumer buying behavior which relates to people or organizations within a group who a consumer looks to for advice or direction and, consequently, may hold influence on what a consumer purchases.
From a marketers perspective, consists of all people and/or organizations possessing the necessary qualification for making a purchase or otherwise developing a relationship with the marketer.
Benefits customers receive that are directly associated with the materials, design and production decisions of the consumable product such as ease-of-use, increased speed and cost savings.