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Marketing > Ch. 5 Understanding Consumer and Business Buyer Behavior > Flashcards

Ch. 5 Understanding Consumer and Business Buyer Behavior Flashcards

1
Q

Consumer buyer behavior

A

the buying behavior of final consumers such as individuals and households

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2
Q

Consumer market

A

All of the individuals or households that buy goods/services combined

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3
Q

Culture

A

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

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4
Q

Buyers black box

A

Buyer’s characteristics and the Buyer’s decision process. This s where marketers would like to be able to get into the mind of their buyers but it is very hard to do so

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5
Q

subculture

A

A group of people with shared value systems based on common life experiences and situations. Important EX: Hispanic American, African American, and Asian American consumers.

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6
Q

Cross-cultural marketing

A

including all ethic themes and perspectives in a brand’s mainstream marketing, appealing to consumer similarities across subcultures rather than differences.

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7
Q

social class

A

More than just about money/income

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

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8
Q

Opinion leader

A

someone is a group who because of their status, knowledge or expertise have a strong power to influence others in the group.

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9
Q

Family

A

most important consumer buying organization in society,

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10
Q

What are two important characteristics of groups that determine buying behavior?

A

Role and status

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11
Q

Personal factors

A

age and life-cycle stage, occupation, economic situation, lifestyle, and personality and self-concept.
marketers often use life-cycle stage and develop appropriate products and marketing plans for each stage.

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12
Q

Lifestyle

A

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

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13
Q

our major psychological factors:

A

motivation, perception, learning, and beliefs and attitudes.

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14
Q

Motive (drive)

A

a need that is so strong that it makes those feeling it have to satisfy that desire

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15
Q

subliminal advertising

A

being affected by marketing messages without even knowing it

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16
Q

Selective distortion

A

describes the tendency of people to interpret infor- mation in a way that will support what they already believe

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17
Q

learning

A

changes in behavior based on experiences

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18
Q

what two characteristics are the hardest to change

A

attitude and beliefs

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19
Q

buyer decision process consists of five stages:

A

need recognition, information search, evaluation of alternatives, purchase decision, and postpurchase behavior.

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20
Q

need recognition—

A

the buyer recognizes a problem or need. and is influenced by an internal or external stimuli

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21
Q

postpurchase behavior is based on these two:

A

expectations and product’s perceived performance

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22
Q

cognitive dissonance,

A

discomfort caused by postpurchase conflict.

23
Q

new product

A

something that is PERCEIVED t be new by a certain customer

24
Q

adoption process of a new good

5 steps:

A

The mental process through which an individual passes from first hearing about an innovation to final adoption.
Awareness, Interest, evaluation, trial, adoption

25
Q

Early adopters

A

are guided by respect—they are opinion leaders in their communities and adopt new ideas early but carefully.

26
Q

Early mainstream

A

adopters are deliberate—although they rarely are leaders, they adopt new ideas before the average person.

27
Q

Late mainstream

A

adopters are skeptical—they adopt an innovation only after a majority of people have tried it.

28
Q

lagging adopters are

A

tradition bound—they are suspicious of changes and adopt the innovation only when it has become something of a tradition itself.

29
Q

relative advantage

A

the level at which a product appears to be superior to competition.

30
Q

compatability

A

level at which the innovation fits the values and experiences of potential consumers

31
Q

complexity

A

how hard or easy it is to use the poriduct

32
Q

divisibility

A

how easy it is to try the product on a limited basis first

33
Q

communicability

A

how easy it is to share and express the experience of the product with others

34
Q

5 influences on the rate of adoption:

A

relative advantage, complexity, compatibility, divisibility, communicability

35
Q

how do business markets differ from consumer markets?

A

they differ in market structure and demand, the nature of the buying unit, and the types of decisions and the decision process involved.

36
Q

derived demand

A

demand coming from the demand for consumer goods

37
Q

Market structure and Demand of B2B

A

less buyers but far larger ones
inelastic and more fluctuating demand
tends to change more—and more quickly—than does the demand for consumer goods and services

38
Q

inelastic

A

a change in price does not effect the consumption

39
Q

buying process characteristics of B2B buying

A 
more professional purchasing efforts
more players in the decision
more complex decisions than consumers
decisions are longer and more formalized
B2B member are more reliant on eachother- they make get together to work to make both of their lives easier and cheaper
40
Q

supplier developement

A

creating a network of suppliers in which can can reliably depend on in order to have the supplies you need on time and in the right quantity

41
Q

straight rebuy

A

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

42
Q

Modified rebuy

A

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

43
Q

new task

A

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

44
Q

systems selling (or solutions selling)

A

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

45
Q

Buying center

A

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

46
Q

Major influences on Business Buying Behavior

A

current and expected economic environment
supply of key materials
technological, political, and competitive developments in the environment.
culture and customs
Organizational factors-objectives, strategies, structure, systems, and procedures
interpersonal factors

47
Q

Product value analysis

A

when a company carefully analyzes to see if they can somehow reproduce this product but in a cheaper or more efficient way to provide greater value

48
Q

proposal solicitation

A

stage of the business buying process, the buyer invites qualified suppliers to submit proposals.

49
Q

vendor-managed inventory

A

buyers hand over the ordering of products to their suppliers who monitors the stores levels of supplies

50
Q

reverse auctions,

A

in which they put their purchasing requests online and invite suppliers to bid for the business.

51
Q

online trading exchanges

A

through which companies work collectively to facilitate the trading process.

52
Q

company buying sites

A

For example, GE operates a company trading site on which it posts its buying needs and invites bids, negotiate terms, and places orders

53
Q

extranet links with key suppliers

A

. For instance, they can create direct procurement accounts with suppliers such as Dell or Staples, through which company buyers can purchase equipment, materials, and supplies directly. Staples operates a business-to-business procurement division called Staples Ad- vantage,

54
Q

maslows levels of needs (pyramid)

A 
self actualization
esteem
social
safety
physiological

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