CH07 Targeting: Identifying and Understanding Consumers

Question 1

demographics (p. 170)

Answer 1

objective, quantifiable, easily identifiable, and measurable population data

Question 2

lifestyles (p. 170)

Answer 2

ways in which individual consumers and families (households) live and spend time and money

Question 3

discretionary income (p. 170)

Answer 3

money left after paying taxes and buying necessities (hehe haha)

Question 4

culture (p. 172)

Answer 4

a distinctive heritage shared by a group of people that passes on a series of beliefs, norms, and customs

Question 5

social class (p. 172)

Answer 5

involves an informal ranking of people based on income, occupation, education, and other factors

Question 6

reference groups (p. 172)

Answer 6

individuals or groups that influence our opinions, beliefs, attitudes and behaviors

Question 7

family life cycle (p. 173)

Answer 7

describes how a traditional family moves from bachelorhood to children to solitary retirement

Question 8

household life cycle (p. 173)

Answer 8

incorporates life stages for both family and
nonfamily households

Question 9

personality (p. 173)

Answer 9

the sum total of an individual’s traits, which make that individual unique

Question 10

class consciousness (p. 173)

Answer 10

the extent to which a person desires and pursues social status

Question 11

attitudes (opinions) (p. 173)

Answer 11

the positive, neutral, or negative feelings a person has about different topics

Question 12

perceived risk (p. 173)

Answer 12

the level of risk a consumer believes exists regarding the purchase of a specific good or service from a given retailer, whether or not the belief is correct

Question 13

motives (p. 176)

Answer 13

reasons for a consumers’ behaviour

Question 14

outshopping (p. 177)

Answer 14

out-of-hometown shopping
eg. driving to the states for trader joes and target

Question 15

cross-shopping (p. 179)

Answer 15

whereby consumers (1) shop for a product category at more
than one retail format during the year or (2) visit multiple retailers on one shopping trip

Question 16

consumer behavior (p. 180)

Answer 16

the process by which ppl determine whether, what, when, where, how, from, whom, and how often to purchase G+S (MARK 305)

Question 17

consumer decision process (p. 181)

Answer 17

has 2 parts: the process itself and the factors affecting the process

6 -step process: stimulus, problem awareness, information search,
evaluation of alternatives, purchase, and post-purchase behavior

Question 18

stimulus (p. 181)

Answer 18

a cue (social or commercial) or a drive (physical) meant to motivate or arouse a person to act

Question 19

problem awareness (p. 181)

Answer 19

post-arousal through stimuli and they recognize that the G+S under consideration may solve a problem of shortage or unfulfilled desire

Question 20

information search (p. 182)

Answer 20

has 2 parts: (1) determining the alternatives that will solve the problem at hand (and where they can be bought) and (2) ascertaining the characteristics of each alternative

Question 21

evaluation of alternatives (p. 182)

Answer 21

if two or more options seem attractive, the person sets the criteria to evaluate and their importance before making a decision

Question 22

purchase act (p. 182)

Answer 22

an exchange of money or a promise to pay for the ownership or use of a good or service

Question 23

post-purchase behavior (p. 183)

Answer 23

can fall into either 2 categories: further purchases or re-evaluation

Question 24

cognitive dissonance (p. 183)

Answer 24

doubt that the correct decision has been made

Question 25

extended decision making (p. 184)

Answer 25

when a consumer makes full use of the decision making process
(eg. purchasing a new laptop)

Question 26

limited decision making (p. 184)

Answer 26

when a consumer uses all the steps in the purchase process but does not spend a great deal of time on each item
(eg. buying a new phone case)

Question 27

routine decision making (p. 184)

Answer 27

when the consumer buys out of habit and skips steps in the purchase process
(eg. grocery shopping)

Question 28

impulse purchases (p. 184)

Answer 28

when consumers buy products and/or brands they had not planned on buying before entering a store, reading a mail-order catalogue, etc.
(eg. the line up to the cashes at winners)

Question 29

customer loyalty (p. 186)

Answer 29

when a person regularly prioritizes a particular (store or nonstore) that they know, like, and trust