added value endowed on products and services. It may be reflected in the way consumers think, feel, and act with respect to the brand, as well as in the prices, market share, and profitability the brand commands for the firm.

practice of dividing your target market into approachable groups (based on characteristics such as, age, income, personality traits or behaviour

are those services or goods that must be present for the guest to use the core product.

unique subset of corporate group business, is a reward participants receive for achieving or exceeding a goal.

involves a review of the sales, costs, and profit projections to determine whether they satisfy the company’s objectives.

These groups serve as direct (face-to-face) or direct point of comparison in the forming of a person's attitude and behavior.

Undifferentiated marketing is more suited for homogenous products. Products that can vary in design, such as restaurants and hotels, or more suited to differentiation or concentration

the stage in which the product and marketing program are introduced into more realistic market settings

defined as "all those individuals and groups who participate in the purchasing decision-making process, who share common goals and the risks arising from the decisions.

The buying process begins when someone in the company recognizes a problem or need that can be met by acquiring a good or a service.

is the decision-making process used by consumers regarding the market transactions before, during, and after the purchase of a good or service. It can be seen as a particular form of a cost-benefit analysis in the presence of multiple alternatives.

refers to a group of potential customers to whom a company wants to sell its products and services. This group also includes specific customers to whom a company directs its marketing efforts

The degree to which effective programs can be designed for attracting and serving segments

many types of meetings, including regional, special-interest, educational, and board meetings.

pertains to buyers who purchase goods and services SPEND consumption rather than resale.

When competitors use segmentation, undifferentiated marketing can be suicidal. Conversely, when competitors use undifferentiated marketing, a firm can gain an advantage by using differentiated or concentrated marketing

are extra products offered to add value to the core product and to help differentiate it from the competition.

Once the general requirements have been determined, the specific requirements for the product can be developed.

Is a descriptive thought that a person holds about something.

Buyer's decisions are also age and life cycle stage, occupation, economic situation, lifestyle, personality, and self - concept.

Meetings of less than fifty rooms are gaining the attention of hotels and hotel chains.

person's relatively consistent evaluation, feelings, and tendencies toward an object or an idea.

Each participant in the buying decision process has personal motivations, perception, and preferences. The participant's age, income, education, professional identification, personality, and attitudes toward risk all influence the participants in the buying process.

The buyer goes on to determine the requirements of the product.

Have formal authority for selecting suppliers and arranging the terms of purchase.

especially appealing to companie Instead of going for a small share of a large market, the firm pursues a la small markets.

The firm targets several market segments and designs separate offers for each

consists of dividing the market into groups based on variables such as age, gender, family life cycle, income, occupation, education, religion, race, and nationality

Unfortunately, there is no simple and single evaluation process used by all consumers or even by one consumer in all buying situations.

calls for dividing the market into different units, such as nations, states regions, counties, cities, or neighborhoods

The buyers write the final order, listing the technical specification. The supplier responds by offering the buyer a formal contract..

include accessibility (geographic location and hours of operation), atmosphere (visual, aural, olfactory, and tactile dimensions), customer interaction with the service organization (joining, consumption, and detachment), customer participation, and customers’ interactions with each other.

period of slow sales growth as the product is being introduced into the market. Profits are nonexistent at this stage

The degree to which segments can be accessed and served

Are online communities where people socialize or exchange information and opinions. Social networking media range from blogs to social networking Web sites, such as MySpace.com and You Tube, to entire virtual worlds, such as Second Life.

is the most basic determinant of a person's wants and behavior. It compromises the basic values, perceptions, wants, and behaviors that a person learns continuously in a society

period of rapid market acceptance and increasing profits.

The degree to which segments are large or profitable enough to serve as markets.

The buying process starts when the buyer recognizes a problem or need.

exert the broadest and deepest influence on consumer behavior. We examine the role played by the buyer's culture, subculture, and social class.

Once the meeting planner has drawn up a short list of suppliers, qualified hotels are invited to submit proposals.

refers to the actions taken (both on and offline) by consumers before buying a product or service. This process may include consulting search engines, engaging with social media posts, or a variety of other actions.

Qualified suppliers are invited to submit proposals. Skilled research, writing, and presentation are required.

anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. It includes physical objects, service, places, organizations, and ideas.

A non group form of organizational business is the

The product is brought into marketplace.

is the decision making process by which a buying group establishes the needs for goods and services and identifies, evaluate, and chooses among alternative brand and suppliers.

authorize the proposed actions of deciders or buyers

is the process by which a person selects, organizes, and interprets information to create a meaningful picture of the world.

Managers must think about how the customers use the product in the three phases of involvement: joining consumption, and detachment.

Involving the guest in service delivery can increase capacity, improve customer satisfaction, and reduce costs.

defines where your product (item or service) stands in relation to others offering similar products and services in the marketplace as well as the mind of the consumer.

The buying center usually includes several participants with differing levels of interest, authority, and persuasiveness.

is a period of slowdown in sales growth because the product has achieved acceptance by most of its potential buyers.

These are relatively permanent and ordered divisions in a society whose members share similar values, interests, and behaviors. In newer nation such as the United States, Canada, Australia, and New Zealand is not indicated by a singled factor such as income but is measured as a combination of occupation, source of income, education, wealth, and other variables.

Consist of the four Ps: product, price, place, and promotion.

The types of goods and services people buy change during their lifetimes. As people grow older and mature, the products they desire change. The makeup of the family also effects purchasing behavior. For examples, families with young children dine out at fast food restaurants

include the consumers' groups, family, social roles and status. It can strongly affect consumer responses, companies, must take them into account when designing marketing strategies

have the power to prevent sellers or information from reaching members of the buying center.

visual look or a shape given to a certain object, in order to make it more attractive, make it more comfortable or to improve another characteristic

describes changes in a person's behavior arising from experience.

The degree to which the segment's size and purchasing power can be measured

These are usually the annual meeting of an association and include general sessions, committee meetings, and special - interest sessions. A trade show is often an important part of an annual convention.

are those who use the product or service.

groups of people with shared value systems based on common experiences and situations.

A need becomes a motive when it is aroused to a sufficient level of intensity.

divides buyers into groups based on their knowledge, attitude, use, or response to a product.

the process of evaluating each segment's attractiveness and selecting one or more of the market segments

If buyers have the same tastes, buy a product in the amounts, and react the same way to marketing efforts, undifferentiated marketing is appropriate

critical element in services. It is appreciated through the senses.

the role and function within an organization that is responsible for a product's overall success.

have a strong influence on buyer behavior. It remains the most important consumer buying organization in American society.

Organizational buyers are heavily influenced by the current and expected economic environment.

In the evaluation stage, the consumer ranks brands in the choice set and forrns purchase intentions. Generally, the consumer buys the most preferred brand

consists of the activities that a person is expected to perform according to the persons around him or her. People often choose products that show their status in society.

ignores market segmentation differences and goes after the whole market with one market offer.

Each organization has specific objectives, policies, organizational structures, and systems related to buying.

stands for social, military, educational, religious, and fraternal organizations. This group of specialty markets has a common price-sensitive thread

select product requirements and suppliers.

The buyer does post purchase evaluation of the product. During this phase the buyer determines if the product meets the buyer's specifications and if the buyer will purchase from the company again.

purpose of this is to spot good ideas and drop poor ones as soon as possible.

is a command performance for employees of a company. The corporation's major concern is that the meeting be productive and accomplish the company's objectives

the period when sales fall off quickly and profits drop.

directly influence the buying decision but do not themselves make the final decision.

answers the question of what the buyer is really buying. Every product is a package of problem – solving services

divides buyers into different groups based on social class, lifestyle, and personality characteristics.

This refers to how accessible the product in terms of location and hours of operation.

The buyer now tries to identify the most appropriate suppliers.

A person's buying choices are also influenced by four major factors: motivation, perception, learning, and beliefs and attitudes

market that is divided into two major markets. For example, in developing countries often a group of high-end hotels exist for international visitors and as a location for social occasions for high - income locals. A group of low- end hotels exists for locals and adventurous tourists.

the consumer will be satisfied or dissatisfied and will engage in this action of significant interest to the marketer.

Customer become part of the product you are offering.

An aroused consumer may or may not search for more information