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Mktg 80 Marketing M._MS. JAMIE > Chapter 4 > Flashcards

Chapter 4 Flashcards

1
Q

Is the sequence of steps that a consumer will need to undergo in order to arrive at the final purchasing decision.

A

CONSUMER BUYING PROCESS.

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2
Q

CONSUMER BUYINGPROCESS

According to Philip Kotler, typical buying process involves six stages:

A

1.Problem Recognition
2.Information Search
3.Evaluation of Alternatives
4.Purchase Decision
5.Purchase
6.Post-Purchase Evaluation

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3
Q

A customer must first have a _________ before a purchase can happen.

A

PROBLEM RECOGNITION

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4
Q

This step is also recognized as identification of unmet needs. This
unmet need becomes a basis or force of buying behavior.

A

PROBLEM RECOGNITION

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5
Q

On the marketer perspective, this creates an opportunity.

Companies may gather information then develop marketing strategies to increase the interest of the customers.

A

PROBLEM RECOGNITION

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6
Q

At this point, consumer will read newspaper and magazine, watch
television, make a trip to a showroom or dealer, get in touch with salesperson and undertake all the feasible sources of _____________.

A

INFORMATION SEARCH

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7
Q

The role of marketers is to make their brands part of the consumers’
awareness set and then choice set.

A

INFORMATION SEARCH

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8
Q

SOURCES OF IN FORMATION

A
  1. PERSONAL SOURCES
  2. COMMERCIAL SOURCES
  3. PUBLIC SOURCES
  4. EXPERIMENTAL SOURCES
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9
Q

composed of family members, friends,
colleagues, and relatives

A

PERSONAL SOURCES

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10
Q

advertising, salesperson, dealers, trade show, display, & exhibition are leading _____________ sources.

A

COMMERCIAL SOURCES

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11
Q
  • mass media such as radio, TV, newspapers, magazines, cinema, & consumer-rating agencies are some primary _____________ sources.
A

PUBLIC SOURCES

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12
Q
  • consist of handling, examining, testing, or using the product
A

EXPERIMENTAL SOURCES

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13
Q

After a consumer has gathered information about certain brands of
a product, they are now ready to make _____________.

A

EVALUATION OF ALTERNATIVES

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14
Q

It is the role of the marketer to emphasize those advanced features of their brands.

Advertisement could help marketers make good comparison of the different goods.

A

EVALUATION OF ALTERNATIVES

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15
Q

The brand that offers maximum benefits or satisfaction in relation to price is chosen.

A

PURCHASE DECISION

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16
Q

At this stage, the customer has searched several brands; they knew
the price and payment options and now prefer one as a promising
brand to buy.

A

PURCHASE DECISION

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17
Q

It is essential for a marketer to provide more information about the
need discovered in the first step.

A

PURCHASE DECISION

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18
Q

FACTORS THAT CONTRIBUTE ON THE DECISION OF CONSUMER
TO AVOID, MODIFY OR POSTPONE A PURCHASE DECISION

A
  1. ATTITUDES OF OTHERS
  2. UNANTICIPATED SITUATIONAL FACTORS
  3. CONSUMER’S PERCEIVED RISK
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19
Q

sometimes other persons’ attitudes are negative about the consumer’s preferred brand. The consumer may be affected with these negative attitudes and comply with them.

A

ATTITUDES OF OTHERS

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20
Q
  • increase in price, unemployment, income of the household, big medical expenses, & unavailability of the most favored brands & other comparable unexpected situation.
A

UNANTICIPATED SITUATIONAL FACTORS

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21
Q
  • some bases of ____________ could
    be on price, quality doubt, entrance of a new better-quality product and the
    customer self-confidence.
A

CONSUMER’S PERCEIVED RISK

22
Q

The _______________ consists of all the organizations that obtain goods and services used in the production of other products that are sold, rented or supplied to others.

Thus, _____________ does not
buy for personal use.

A

THE BUSINESS MARKET

23
Q

TYPES OF BUSINESS MARKET

A
  1. INDUSTRIAL MARKET
  2. RESALE MARKETS
  3. GOVERNMENT MARKET
  4. INSTITUTIONAL MARKET
24
Q
  • consists mainly of companies making business in durable goods such as machinery, materials, chemicals, vehicles, office furniture and supplies.

The buyers are often manufacturers and the resellers are known as suppliers.

A

INDUSTRIAL MARKET

25
Q

____________________ purchased products and retrade them to their customers for the intention of making profit.

A

RESALE MARKETS

26
Q
  • ______________ organizations are a key buyer of goods and services.

_____________ agencies normally need supplies to propose bids and usually they grant the contract to the lowest bidder.

A

GOVERNMENT MARKET

27
Q

Includes schools, hospitals, nursing
homes, and other institutions that l must be supplied with goods and
services to people in their care.

A

INSTITUTIONAL MARKET

28
Q
  • the prior routine order is made by the business buyer without any adjustments.

Simply rebuys same product from the same supplier.

A

STRAGHT REBUY

29
Q
  • in this situation, business market wants to change its order in some specification of product, its price or terms and so on.
A

MODIFIED REBUY

30
Q
  • when a business buys an exact product for the first time, this case is called _____________ buying.

.

A

NEW TASK

31
Q

is quite different from the consumer buying process because ______ is involved in different sets of characteristics and
demands.

A

Business buying process (BBP)

32
Q

The BBP is split into eight stages:

A

1.Problem Recognition
2.Description of General Need
3.Specification of the Product
4.Search of Supplier
5.Proposal Solicitation
6.Selection of Supplier
7.Order-Routine Specification
8.Performance Review

33
Q

The need or problem is recognized through either internal or external cues.

A

PROBLEM RECOGNITION

34
Q

The first stage is when a certain problem is identified by someone in
the organization.

A

PROBLEM RECOGNITION

35
Q

Salesperson has to stress the problem by cautious analysis of cost
inefficiencies and other signs perceived to be more urgent and in
need of solution.

A

PROBLEM RECOGNITION

36
Q

This stage begins when an obvious need has been recognized by the organization.

A

DESCRIPTION OF GENERAL NEED

37
Q

In this step, description about the general need has been set which explains the general characteristics and the quantity of the needed product.

A

DESCRIPTION OF GENERAL NEED

38
Q

Marketer must persuade the decision making unit. Through persuading the buying company to detail features that only their product possesses, the sale must be closed at this stage.

A

DESCRIPTION OF GENERAL NEED

39
Q

In this stage, the organization that is involved in the business buying process organizes a comprehensive list of the technical specifications of the preferred product through value analysis carried out by the engineering team.

A

SPECIFICATION OF THEPRODUCT

40
Q

The buying organization looks for the suppliers to buy with the best one.

A

SEARCH OF SUPPLIER

41
Q

A list of competitive competitive businesses is readied by the buying
organization with the use of supplier directories and aid of internet.

A

SEARCH OF SUPPLIER

42
Q

The internet is more and more becoming a platform for such searching these days as the majority of the organizations are
entering into virtual world.

A

SEARCH OF SUPPLIER

43
Q

In this stage, the suppliers are asked to submit their proposals. Some suppliers send only their salesperson
or simple catalogs.

A

PROPOSAL SOLICITATION

44
Q

It is important that a supplier is known to the buyer, and it can do so by maintaining relationships with the buyer even when later is not buying.

A

PROPOSAL SOLICITATION

45
Q

At this stage, the final supplier is chosen from the list of possible suppliers who have submitted their proposals to the
buying organizations.

Attributes that serve as basis for selection of potential supplier:

1.Quality of Product
2.Delivery Time
3.Ethical Corporate Behavior
4.Reasonable Price
5.Honest Communication
6.Past Performance & Reputation
7.Repair and Maintenance Services

A

SELECTION OF SUPPLIER

46
Q

It contains the the order having a final list of the specifications, the selected supplier, delivery time, quantity required, price, repair and maintenance services.

A

ORDER-ROUTINE SUPPLIER

47
Q

Details of payment and delivery are important. This is conducted by the purchasing department.

A

ORDER-ROUTINE SUPPLIER

48
Q

This is the last stage of the business buying process

A

PERFORMANCE REVIEW

49
Q

The performance of the supplier is reviewed by the buying
organization.

A

PERFORMANCE REVIEW

50
Q

The performance review helps in future decision of the business buying process in the form of straight rebuy, modified rebuy or new task buying.

A

PERFORMANCE REVIEW

51
Q

Resale markets also known as _________ do not change the products they procure.

A

Wholesalers

52
Q

The purchase is done for the first time with no purchasing experience.

A

New Task

Mktg 80 Marketing M._MS. JAMIE (7 decks)

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