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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
Q

Cognitive Learning Theory

A

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
Q

Observational Learning

A

Learning that occurs when people watch the actions of others and note what happens to them as a result

27
Q

Attitude

A

A learned predisposition to respond favorably or unfavorably to stimuli on the basis of relatively enduring evaluations of people, objects, and issues.

28
Q

Affect

A

The feeling component of attitudes; refers to the overall emotional response a person has to a product.

29
Q

Cognition

A

The knowing component of attitudes; refers to the beliefs or knowledge a person has about a product and its important characteristics

30
Q

Behavior

A

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
Q

Personality

A

The set of unique psychological characteristics that consistently influences the way a person responds to situations in the environment

32
Q

Family Life Cycle

A

A means of characterizing consumers within a family structure on the basis of different stages through which people pass as they grow older.

33
Q

Lifestyle

A

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
Q

Psychographics

A

The use of psychological, sociological, and anthropological factors to construct market segments

35
Q

AIOs

A

Measures of consumer activities, interests, and opinions used to place consumers into dimensions

36
Q

Time Poverty

A

Consumers’ belief that they are more pressed for time than ever before

37
Q

Culture

A

The values, beliefs, customs, and tastes a group of people values

38
Q

Subculture

A

A group within a society whose members share a distinctive set of beliefs, characteristics, or common experiences

39
Q

Social Class

A

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
Q

Status Symbols

A

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
Q

Reference Group

A

An actual or imaginary individual or group that has a significant effect on an individual’s evaluations, aspirations, or behavior

42
Q

Opinion Leader

A

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
Q

Gender Roles

A

Society’s expectations regarding the appropriate attitudes, behaviors, and appearance for men and women

44
Q

Business to Business Markets

A

The group of customers that include manufacturers, wholesalers, retailers, and other organizations

45
Q

Organizational Markets

A

Another name for business-to-business markets

46
Q

Producers

A

The individuals or organizations that purchase products for use in the production of other goods and services

47
Q

Resellers

A

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
Q

Government Markets

A

The federal, state, county, and local governments that buy goods and services to carry out public objectives and to support their operations

49
Q

Derived Demand

A

Demand for business or organizational products caused by demand for consumer goods or services

50
Q

Inelastic Demand

A

Demand in which changes in price have little or no effect on the amount demanded

51
Q

Joint Demand

A

Demand for two or more goods that are used together to create a product

52
Q

Straight Rebuy

A

A buying situation in which business buyers make routine purchases that require minimal decision making

53
Q

Modified Rebuy

A

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
Q

New-Task Buy

A

A new business-to-business purchase that is complex or risky and that requires extensive decision making

55
Q

Buying Center

A

The group of people in an organization who participate in a purchasing decision

56
Q

Single Sourcing

A

The business practice of buying a particular product from only one supplier

57
Q

Multiple Sourcing

A

The business practice of buying a particular product from several different suppliers

58
Q

Outsourcing

A

The business buying process of obtaining outside vendors to provide goods or services that otherwise might be supplied in house

59
Q

Offshoring

A

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
Q

Reverse Marketing

A

A business practice in which a buyer firm attempts to identify suppliers who will produce products according to the buyer firm’s specifications

61
Q

Business to Business E-Commerce

A

Online exchanges between two or more businesses or organizations

Marketing Exam #1 (6 decks)

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