Chapter 1

Question 1

Conceptual model

Answer 1

is a model that examines the situational factors which affect the consumer’s behaviors.

Question 2

Consumer behavior

Answer 2

is the study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.

Question 3

Consumer cost

Answer 3

is everything the consumer must surrender in order to receive the benefits of owning/ using the product

Question 4

Customer satisfaction

Answer 4

a measurement that determines how happy customers are with a company’s product, service, and capabilities.

Question 5

Customer value

Answer 5

is the difference between all the benefits derived from a total product and all the costs of acquiring those benefits.

Question 6

Distribution

Answer 6

having the product available where target customers can buy it, is essential to success

Question 7

Injurious consumption

Answer 7

when individuals or groups make consumption decisions that have negative consequences for their long-run well-being

Question 8

Lifestyle

Answer 8

how one lives

Question 9

Marketing communications

Answer 9

include advertising, the sales force, public relations, packaging, and any other signal that the firm provides about itself and its products

Question 10

Marketing mix

Answer 10

the product, price, communication, distribution, and service provided to the target market

Question 11

Marketing strategy

Answer 11

is basically the answer to the question, How will we provide superior customer value to our target market?

Question 12

Market segment

Answer 12

is a portion of a larger market whose needs differ somewhat from the larger market.

Question 13

Need set

Answer 13

reflect the fact that most products in developed economies satisfy more than one need.

Question 14

Price

Answer 14

is the amount of money one must pay to obtain the right to use the product

Question 15

Product

Answer 15

is anything a consumer acquires or might acquire to meet a perceived need

Question 16

Product position

Answer 16

an image of the product or brand in the consumer’s mind relative to competing products and brands

Question 17

Self-concept

Answer 17

the totality of an individual’s thoughts and feelings about himself or herself

Question 18

Service

Answer 18

auxiliary or peripheral activities that are performed to enhance the primary product or primary service

Question 19

Social Marketing

Answer 19

is the application of marketing strategies and tactics to alter or create behaviors that have a positive effect on the target individuals or society as a whole

Question 20

Target Market

Answer 20

the segment(s) of the larger market on which we will focus our marketing effort

Question 21

Total Product

Answer 21

the bundles of service offered by product/ services such as product features, price, communication, distribution, and services that will provide customers with superior value. It also involves experience. An Experience occurs when a company intentionally creates a memorable event for the customer.