Marketing Management: The Big Picture

GLOSSARY

Aspirational variables. Variables that reflect beliefs and attitudes about the future: the wishes, hopes, and dreams of our target audience.

Attitudinal variables. Variables that describe the thoughts, feelings, and beliefs of consumers. Marketers have implicitly used attitudinal segmentation strategies for years by appealing to consumers' need for safety or self-esteem or desire to be “hip” or “cool.”

Augmented product. Product innovation that represents the dynamic benefit.

Average costs. The sum of fixed plus variable costs divided by total units sold.

Average customer life. The average number of years a customer can be expected to stay with the company given the current retention rate.

Balanced scorecard. A business metrics system developed by Kaplan and Norton in the early 1990s which divides the firm into a financial perspective, a customer perspective, innovation and learning perspective, and an internal process perspective.

Basic awareness (also called aided recognition). Consumer's ability, when presented with the brand name or logo, to acknowledge that he or she has seen it before.

Behavioral model. A model that attempts to predict consumer behavior by looking at relationships between variables, such as the relationship between attitudes and awareness and purchase behavior.

Behavioral objective. Communication with a goal to cause an action or specific behavior in our target audience.

Behavioral segmentation variables. Variables that describe the specific actions ...