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Marketing Exam #1 > Chapter 6 Terms > Flashcards

Chapter 6 Terms Flashcards

1
Q

Consumer Behavior

A

The process involved when individuals or groups select, purchase, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and desires

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2
Q

Involvement

A

The relative importance of perceived consequences of the purchase to a consumer

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3
Q

Perceived Risk

A

The belief that choice of a product has potentially negative consequences, whether financial, physical, or social

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4
Q

Problem Recognition

A

The process that occurs whenever the consumer sees a significant difference between his or her current state of affairs and some desired or ideal state; this recognition initiates the decision-making process

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5
Q

Information Search

A

The process whereby a consumer searches for appropriate information to make a reasonable decision

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6
Q

Evoked Set

A

All of the alternative brands a consumer is aware of when making a decision

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7
Q

Consideration Set

A

The alternative brands a consumer seriously considers in making a decision

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8
Q

Evaluation of Alternatives

A

Consumer identifies limited number of products for closer consideration

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9
Q

Evaluation Criteria

A

Consideration set which depends on specific buying situation

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10
Q

Product Choice

A

Consumer chooses product but relies on shortcuts in making decision

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11
Q

Compensatory Decision Rules

A

The methods for making decisions that allow information about attributes of competing products to be averaged in some way.

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12
Q

Heuristics

A

A mental rule of thumb that leads to a speedy decision by simplifying the process

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13
Q

Brand Loyalty

A

A pattern of repeat product purchases, accompanied by an underlying positive attitude toward the brand, based on the belief that the brand makes products superior to those of its competition

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14
Q

Post-Purchase Evaluation

A

Consumer determines satisfaction following purchase of product

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15
Q

Consumer Satisfaction/Dissatisfaction

A

The overall feelings or attitude a person has about a product after purchasing it.

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16
Q

Cognitive Dissonance

A

The anxiety or regret a consumer may feel after choosing from among several similar attractive choices

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17
Q

Perception

A

The process by which people select, organize, and interpret information from the outside world

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18
Q

Exposure

A

The extent to which a stimulus is capable of being registered by a person’s sensory receptors

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19
Q

Attention

A

The extent to which a person devotes mental processing to a particular stimulus

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20
Q

Interpretation

A

The process of assigning meaning to a stimulus based on prior associations a person has with it and assumptions he or she makes about it

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21
Q

Motivation

A

An internal state that drives us to satisfy needs by activating goal-oriented behavior

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22
Q

Hierarchy of Needs

A

An approach that categorizes motives according to five levels of importance, the more basic needs being on the bottom of the hierarchy and the higher needs at the top

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23
Q

Learning

A

A relatively permanent change in behavior caused by acquired information or experience

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24
Q

Behavioral Learning Theories

A

Theories of learning that focus on how consumer behavior is changed by external events or stimuli

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25
Cognitive Learning Theory
Theory of learning that stresses the importance of internal mental processes and that views people as problem solvers who actively use information from the world around them to master their environment
26
Observational Learning
Learning that occurs when people watch the actions of others and note what happens to them as a result
27
Attitude
A learned predisposition to respond favorably or unfavorably to stimuli on the basis of relatively enduring evaluations of people, objects, and issues.
28
Affect
The feeling component of attitudes; refers to the overall emotional response a person has to a product.
29
Cognition
The knowing component of attitudes; refers to the beliefs or knowledge a person has about a product and its important characteristics
30
Behavior
The doing component of attitudes; involves a consumer’s intention to do something, such as the intention to purchase or use a certain product
31
Personality
The set of unique psychological characteristics that consistently influences the way a person responds to situations in the environment
32
Family Life Cycle
A means of characterizing consumers within a family structure on the basis of different stages through which people pass as they grow older.
33
Lifestyle
The pattern of living that determines how people choose to spend their time, money, and energy and that reflects their values, tastes, and preferences
34
Psychographics
The use of psychological, sociological, and anthropological factors to construct market segments
35
AIOs
Measures of consumer activities, interests, and opinions used to place consumers into dimensions
36
Time Poverty
Consumers’ belief that they are more pressed for time than ever before
37
Culture
The values, beliefs, customs, and tastes a group of people values
38
Subculture
A group within a society whose members share a distinctive set of beliefs, characteristics, or common experiences
39
Social Class
The overall rank or social standing of groups of people within a society according to the value assigned to factors such as family background, education, occupation, and income
40
Status Symbols
Visible markers that provide a way for people to flaunt their membership in higher social classes (or at least to make others believe they are members)
41
Reference Group
An actual or imaginary individual or group that has a significant effect on an individual’s evaluations, aspirations, or behavior
42
Opinion Leader
A person who is frequently able to influence others’ attitudes or behaviors by virtue of his or her active interest and expertise in one or more product categories
43
Gender Roles
Society’s expectations regarding the appropriate attitudes, behaviors, and appearance for men and women
44
Business to Business Markets
The group of customers that include manufacturers, wholesalers, retailers, and other organizations
45
Organizational Markets
Another name for business-to-business markets
46
Producers
The individuals or organizations that purchase products for use in the production of other goods and services
47
Resellers
The individuals or organizations that buy finished goods for the purpose of reselling, renting, or leasing to others to make a profit and to maintain their business operations
48
Government Markets
The federal, state, county, and local governments that buy goods and services to carry out public objectives and to support their operations
49
Derived Demand
Demand for business or organizational products caused by demand for consumer goods or services
50
Inelastic Demand
Demand in which changes in price have little or no effect on the amount demanded
51
Joint Demand
Demand for two or more goods that are used together to create a product
52
Straight Rebuy
A buying situation in which business buyers make routine purchases that require minimal decision making
53
Modified Rebuy
A buying situation classification used by business buyers to categorize a previously made purchase that involves some change and that requires limited decision making
54
New-Task Buy
A new business-to-business purchase that is complex or risky and that requires extensive decision making
55
Buying Center
The group of people in an organization who participate in a purchasing decision
56
Single Sourcing
The business practice of buying a particular product from only one supplier
57
Multiple Sourcing
The business practice of buying a particular product from several different suppliers
58
Outsourcing
The business buying process of obtaining outside vendors to provide goods or services that otherwise might be supplied in house
59
Offshoring
A process by which companies contract with companies or individuals in remote places like China or India to perform work they used to do at home
60
Reverse Marketing
A business practice in which a buyer firm attempts to identify suppliers who will produce products according to the buyer firm’s specifications
61
Business to Business E-Commerce
Online exchanges between two or more businesses or organizations

Marketing Exam #1 (6 decks)

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