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manufacturing and transportation companies that help them get their product or service to the marketplace 2) they strive to balance their customers' benefits and costs 3) they concentrate on building relationships with customers 4) they need to take advantage of new technologies and connect with their customers using social and mobile media.

focus group interviews (Qualitative research) - -a small group of persons (usually 8-12) come together for an intensive discussion about a particular topic. -Using an unstructured method of inquiry, a trained moderator guides the conversation, according to a predetermined, general outline of topics of interest. -Researchers usually record the interactions by video- or audiotape so they can carefully comb through the interviews later to catch any patterns of verbal or nonverbal responses. - focus groups gather qualitative data about initial reactions to a new or existing product or service, opinions about different competitive offerings, or reactions to marketing stimuli, like a new ad campaign or point-of-purchase display materials. - not limited to new products though--services too -focus groups now often takes place online the company saves costs but also gains access to a broader range of potential customers who live in various places -However, these online focus groups rarely include video feeds, so companies lose some important information that can be gleaned from body language

foreign currency fluctuations - -changes in the value of a country's currency relative to the currency of another country, can influence consumer spending. EX: if euro is $1.35 and U.S. is $1.00, merchandise made in Europe and other countries tied to the euro becomes more costly to Americans, whereas products made in the U.S. cost less for European consumers. Global financial markets are closely connected, such that when one falls, everyone suffers.

formal assessment - life key metrics like: • delivery, quality, customer service, and issue resolution. -rates the issues on importance scale -ranks the vendor according to each metric

Functional needs: - pertain to the performance of a product or service

gatekeeper buying role - the person who controls information or access, or both, to decision makers and influencers.

gender - more firms are careful about gender neutrality in positioning their products and attempt to transcend gender boundaries, especially through increased interactions with their customers

Generation X - -includes those born between 1965 and 1976. -the first generation of latchkey children , and 50% of them have divorced parents. -This influence has led them to act like "helicopter parents" with their own children, working to shield their offspring from any threats or disappointments. - Unlike most previous generations, they're unlikely to enjoy greater economic prosperity than their parents. -Although fewer in number than Generation Y or Baby Boomers, Gen Xers possess considerable spending power because they tend to get married later and buy houses later in life. -They're much less interested in shopping than their parents and far more cynical, which tends to make them astute consumers. -They demand convenience and tend to be less likely to believe advertising claims or what salespeople tell them. -Because of their experience as children of working parents, who had little time to shop, Xers developed shopping savvy at an early age and knew how to make shopping decisions by the time they were teenagers. As a result, they grew more knowledgeable about products and more risk averse than other generational cohorts.

Generation Y (Millennials) - - born between 1977 and 2000 . -Children of the Baby Boomers, this group is the biggest cohort. -It also varies the most in age, ranging from teenagers to adults who have their own families. -Now that Gen Y is entering the workplace, it's becoming apparent that its members have different expectations and requirements than those of other cohorts. -Gen Y puts a strong emphasis on balancing work and life - these young adults want a good job, but they also want to live in a location that supports their lifestyle -They also consider marriage secondary, and not obviously necessary, to being good parents themselves. -The younger edge of this group (often called tweens) has never lived without Internet or easy access to cell phones, which makes them technologically savvy.

-As a result, these Gen Yers look and consume rather similarly across countries. They have similar lifestyle, music, and entertainment. It's difficult to tell the difference in appearance between Gen Ys in the U.S.A. and other developed countries, based solely on their "uniforms" of jeans, sneakers, and T-shirts.

Generation Z (Digital Natives) - -people in this group were born into a world that already was full of electronic gadgets and digital technologies, like the Internet and social networks. -Because of the technologies available to them, these digital natives will be more globally connected than previous generations. -They thus might have a better appreciation for diverse cultures, but GenZ consumers also were born into a world confronted by both national and international terrorism, often facilitated by technology, and widespread environmental concerns. -Generation Z children are being raised by and have a lot in common with their Generation X parents. - Gen Z and their parents increasingly watch the same television channels, especially when it shows nostalgic shows that the parents remember and the children enjoy. - Both groups also like video games, leading the industry to develop family oriented games on communal consoles. Finally, because Gen Z kids still go shopping with their parents, they're developing an affinity for the same brands, prompting retailers like The Gap and JCrew to develop special product lines to accommodate their demands. But at a certain point, such accommodation might cross the line into exploitation.

generational cohort - -a group of people in the same generation, have similar purchase behaviors because they have share experiences and are in the same stage of life. -Applying age as a basis to identify consumers is quite useful to marketers, as long as it is used in conjunction with other consumer characteristics. EX: age groups can identify appropriate magazine and television shows in which firms should advertise, and lists for direct mail and telemarketing campaigns. -Age is also useful for identifying the best social media outlets (twitter, facebook, etc.).

geodemographic segmentation - -uses a combination of geographic, demographic, and lifestyle characteristics to classify consumers -Consumers in the same neighborhood tend to buy the same types of cars, appliances, and apparel and shop at the same types of retailers. -2 of the most widely used tools for geodemographic segmentation are PRIZM (Potential Rating Index by Zip Market) developed by Nielsen Claritas, and ESRI's Tapestry.

-Using detailed demographic data and information about the consumption and media habits of people who live in each U.S. block tract (zip code + 4), PRIZM can identify 66 geodemographic segments or neighborhoods. Each block group then can be analyzed and sorted by more than 60 characteristics, including income, home value, occupation, education, household type, age, and several key lifestyle variables.. --the PRIZMs are then turned into clusters of similar segments -Geodemographic segmentation can be particularly useful for retailers because customers typically patronize stores close to their neighborhood. -Thus, retailers can use geodemographic segmentation to tailor each store's assortment to the preferences of the local community. This kind of segmentation is also useful for finding new locations; retailers identify their "best" locations and determine what types of people live in the area surrounding those stores, according to the geodemographic clusters. They can then find other potential locations where similar segments reside.

Geographic Segmentation: - organizes customers into groups on the basis of where they live. Thus, a market could be grouped by country, region (northeast, southeast), or areas within a region (state, city, neighborhoods, zip codes). Not surprisingly, geographic segmentation is most useful for companies whose products satisfy needs that vary by region. Firms can provide the same basic goods or services to all segments even if they market globally or nationally, but better marketers make adjustments to meet the needs of smaller geographic groups.

Goods (product) - are items that you can physically touch, EX: Nike shoes, Budweiser, Kraft cheese, Tide, an iPad...

government - -in most countries, the central government is one of the largest purchasers of goods and services. EX: Policy Studies Inc. (PSI) offers consulting, technology, and outsourced services to government agencies involved in criminal justice, health care, and human services....