Ch. 5 Understanding Consumer and Business Buyer Behavior Flashcards
Consumer buyer behavior
The buying behavior of final consumers–individuals and households that buy goods and services for personal consumption.
Consumer market
All there individuals and households that buy or acquire goods and services for personal consumption.
Culture
The set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions.
Subculture
A group of people with shared value systems based on common life experiences and situations.
Social class
Relatively permanent and ordered divisions in a society whose members share similar values, interests, and behaviors.
Group
Two or more people who interact to accomplish individual or mutual goals.
Word-of-mouth influence
The impact of the personal words and recommendations of trusted friends, associates, and other consumers on buying behavior.
Opinion leader
A person within a reference group who because of special skills, knowledge, personality, or other characteristics, exerts social influence on others.
Online social networks
Online social communities–blogs, social networking Web sites, and other online communities–where people socialize or exchange information and opinions.
Lifestyle
A person’s pattern of living as expressed in his or her activities, interests, and opinions.
Personality
The unique psychological characteristics that distinguish a person or group.
Motive (drive)
A need that is sufficiently pressing to direct the person to seek satisfaction of the need.
Perception
The process by which people select, organize, and interpret information to form a meaningful picture of the world.
Learning
Changes in an individual’s behavior arising from experience.
Belief
A descriptive thought that a person holds about something.
Attitude
A person’s consistently favorable or unfavorable evaluations, feelings, and tendencies toward an object or idea.
Cognitive dissonance
Buyer discomfort caused by postpurchase conflict
New product
A good, service, or idea that is perceived by some potential customers as new.
Adoption process
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.
Business buyer behavior
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.
Business buying process
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.
Derived demand
The business demand for products and services that ultimately derives from the demand for consumer goods.
Supplier development
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.
Straight rebuy
A business buying situation in which the buyer routinely reorders something without any modifications.
Modified rebuy
A business buying situation in which the buyer wants to modify product specifications, prices, terms, or suppliers.
New task
A business buying situation in which the buyer purchases a product or service for the first time.
System selling (or solutions selling)
Buying a packaged solution to a problem from a single seller, thus avoiding all the separate decisions involved in a complex buying situation.
Buying center
All the individuals and units that play a role in the purchase decision-making process.
Product value analysis
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.
E-procurement
Purchasing performed through electronic connections between buyers and sellers–usually online.
