Ch. 5 Understanding Consumer and Business Buyer Behavior

Question 1

Consumer buyer behavior

Answer 1

The buying behavior of final consumers–individuals and households that buy goods and services for personal consumption.

Question 2

Consumer market

Answer 2

All there individuals and households that buy or acquire goods and services for personal consumption.

Question 3

Culture

Answer 3

The set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions.

Question 4

Subculture

Answer 4

A group of people with shared value systems based on common life experiences and situations.

Question 5

Social class

Answer 5

Relatively permanent and ordered divisions in a society whose members share similar values, interests, and behaviors.

Question 6

Group

Answer 6

Two or more people who interact to accomplish individual or mutual goals.

Question 7

Word-of-mouth influence

Answer 7

The impact of the personal words and recommendations of trusted friends, associates, and other consumers on buying behavior.

Question 8

Opinion leader

Answer 8

A person within a reference group who because of special skills, knowledge, personality, or other characteristics, exerts social influence on others.

Question 9

Online social networks

Answer 9

Online social communities–blogs, social networking Web sites, and other online communities–where people socialize or exchange information and opinions.

Question 10

Lifestyle

Answer 10

A person’s pattern of living as expressed in his or her activities, interests, and opinions.

Question 11

Personality

Answer 11

The unique psychological characteristics that distinguish a person or group.

Question 12

Motive (drive)

Answer 12

A need that is sufficiently pressing to direct the person to seek satisfaction of the need.

Question 13

Perception

Answer 13

The process by which people select, organize, and interpret information to form a meaningful picture of the world.

Question 14

Learning

Answer 14

Changes in an individual’s behavior arising from experience.

Question 15

Belief

Answer 15

A descriptive thought that a person holds about something.

Question 16

Attitude

Answer 16

A person’s consistently favorable or unfavorable evaluations, feelings, and tendencies toward an object or idea.

Question 17

Cognitive dissonance

Answer 17

Buyer discomfort caused by postpurchase conflict

Question 18

New product

Answer 18

A good, service, or idea that is perceived by some potential customers as new.

Question 19

Adoption process

Answer 19

The mental process through which an individual passes from first hearing about an innovation to final adoption. ie: consumer decides to make full and regular use of the new product.

Question 20

Business buyer behavior

Answer 20

The buying behavior or organizations that buy goods and services for use in the production of other products and services that are sold, rented, or supplied to others.

Question 21

Business buying process

Answer 21

The decision process by which business buyers determine which products and services their organizations need to purchase and then find, evaluate, and choose among alternative suppliers and brands.

Question 22

Derived demand

Answer 22

The business demand for products and services that ultimately derives from the demand for consumer goods.

Question 23

Supplier development

Answer 23

Systematic development of networks of supplier-partners to ensure an appropriate and dependable supply of products and materials exists for use in making products or reselling them to others.

Question 24

Straight rebuy

Answer 24

A business buying situation in which the buyer routinely reorders something without any modifications.

Question 25

Modified rebuy

Answer 25

A business buying situation in which the buyer wants to modify product specifications, prices, terms, or suppliers.

Question 26

New task

Answer 26

A business buying situation in which the buyer purchases a product or service for the first time.

Question 27

System selling (or solutions selling)

Answer 27

Buying a packaged solution to a problem from a single seller, thus avoiding all the separate decisions involved in a complex buying situation.

Question 28

Buying center

Answer 28

All the individuals and units that play a role in the purchase decision-making process.

Question 29

Product value analysis

Answer 29

Carefully analyzing a product’s or service’s components to determine if they can be redesigned and made more effectively and efficiently to provide greater value.

Question 30

E-procurement

Answer 30

Purchasing performed through electronic connections between buyers and sellers–usually online.