MGMT 3850 1st EditionExam # 2 Study Guide Chapter 8Marketing: process of creating and delivering desired goods and services to customers and involves in winning and retaining loyal customersGuerrilla marketing strategies: unconventional, low-cost, creative techniquesTarget Market: the specific group of customers at whom the company aims its goods or servicesDemographics: the study of important population characteristics such as age, income, education, race and othersMarket research: the vehicle for gathering the information that serves as the foundation for the marketing planData mining: a process in which computer software that uses statistical analysis, database technology, and artificial intelligence finds hidden patterns so that the business owners can make better marketing decisionsEntertailing: nothing of drawing customers into a store by creating a kaleidoscope of sights, sounds, smells, and activities, all designed to entertain and sellUnique selling proposition (USP): key customer benefit of a product or service that sets it apart from its competitionBranding: communicating a company’s unique selling proposition to its target customers in a consistent and integrated mannerCustomer Experience Management: creating the optimum experience for their customers every time they interact with the company.Total Quality Management: systematically creating the optimum experience for their customers every time they interact with the company.Total Quality Management (TQM): quality not just in the product or service itself but also in every aspect of the business and its relationship with the customer and continuous improvement in that qualityChapter 14Trading area: the region from which a business can expect to draw customers over a reasonable time spanRetail compatibility: the benefits a company receives by locating near other businesses that sellcomplementary products and services or that generate high volumes of trafficIndex of retail saturation: a measure of the potential sales per square foot of store space for a given product within a specific trading area; it is the ration of trading areas’ sales potential for a product or service to its sales capacityBusiness incubator: an organization that combines low-cost, flexible rental space with a multitude of support services for its small business residentsLayout: the logical arrangement of the physical facilities in a business that contributes to efficient operations, increased productivity, and higher sales.Americans with Disabilities Act (ADA): a law that requires practically all businesses to make theirfacilities available to physically challenged customers and employeesErgonomics: the science of adapting work and the work environment to complement employees’ strengths and to suit customers’ needsProduct (line) layout: an arrangement of workers and equipment according to the sequence of operations performed on a productProcess layout: an arrangement of workers and equipment according to the general function they perform, without regard to any particular product or customerFixed position layout: an arrangement in which materials do not move down a production line but rather, because of their weight, size, or bulk are assembled on the spotChapter 9Click-through rate: the percentage of recipients who open an-email and clock through to the company’s Web site.Mashup: a Web site or an application that combines content from multiple sourcesReally Simple Syndication (RSS): an application that allows subscribers to aggregate content from their favorite Web sites into a single feed that is delivered automatically whenever the content is updated.Wiki: a dynamic collection of Web pages that allows users to add to or edit their contentWidget: a low-cost application that appears like a small television screen on a Web site, a blog, or a computer desktop and performs a specific functionNatural (organic) listings: search engine listings that are the result of “spiders,” powerful programs that crawl around the Web and analyze sites for key words, links, and other dataSearch Engine Optimization (SEO): the process of managing the content, key words, titles, tags, features, and design of a Web site so that it appears at or near the top of Internet search resultsPaid (sponsored) listings: short advertisements with links to the sponsoring company’s Web site that appear on the results page of a search engine when the user types in a key word or phraseClick fraud: a situation that occurs when a company pays for clicks that are generated by someone with no interest in or intent to purchase its products or servicesLanding pages: the pages on which visitors land after they click on a sponsored link in a search engine, e-mail ad, or online adWeb analytics: tools that measure a Web site’s capability to attract customers, generate sales, and keep customers coming backCost per acquisition: measure the cost that a company incurs to generate each purchase (or customer registration)Bounce rate: measures the percentage of visitors to a company’s Web site who view a single page and leave without viewing other pagesCart abandonment rate: measures the percentage of shoppers who place at least one item in a shopping cart but never complete the transactionConversion (browse-to-buy) rate: measures the proportion of visitors to a site who actually make a purchasePrivacy Policy: a statement explaining the nature of information a company collects online, whatit does with that information, and the recourse that customers have if they believe the companyis misusing the informationVirus detection software: programs that scan computer drives for viruses, or nasty programs written by devious hackers and designed to harm computers and the information they containIntrusion detection software: programs that constantly monitor the activity on a company’s network server and sound an alert if they detect someone breaking into the system or if they detect unusual network activityFirewall: a combination of hardware and software that allows employees to have access to the internet but keeps unauthorized users from entering a company’s network and the programs and data it containsSecure Sockets Layer (SSL) technology: an encryption device that secures customers’ transactioninformation as it travels across the internetCharge-backs: online transactions that customers disputeChapter 10Revolutionary products: products that are so new and unique that they