Chapter 6: Understand Consumer and Business Markets

Question 1

consumer behavior

Answer 1

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

Question 2

problem recognition

Answer 2

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.

Question 3

evaluative criteria

Answer 3

The dimensions consumers use to compare competing product alternatives.

Question 4

brand loyalty

Answer 4

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.

Question 5

consumer satisfaction/dissatisfaction

Answer 5

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

Question 6

social graph

Answer 6

A graph representing social relations between people or other entities. A social graph is a representation of a social network. The social graph is “the global mapping of
everybody and how they are related.”

Question 7

data driven disruptive marketing

Answer 7

Relationship-oriented marketing where the use of data and the content of marketing is used to build trust.

Question 8

culture

Answer 8

he values, beliefs, customs, and tastes a group of people produces or practices.

Question 9

subculture

Answer 9

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

Question 10

microculture

Answer 10

Groups of consumers who identify with a specific activity or art form.

Question 11

perception

Answer 11

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

Question 12

subliminal advertising

Answer 12

Supposedly hidden messages in marketers’ communications.

Question 13

rich media

Answer 13

A digital advertising term for an ad that includes advanced features, like video and audio elements, that encourage viewers to interact and engage with the content.

Question 14

hierarchy of needs

Answer 14

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.

Question 15

gamification

Answer 15

A strategy in which marketers apply game design techniques, like awarding points, badges, or levels, to nongame experiences in order to engage consumers.

Question 16

attitude

Answer 16

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

Question 17

lifestyle

Answer 17

The pattern of living that determines how people choose to spend their time, money, and energy and that reflects their values, tastes, and preferences.

Question 18

B2B markets

Answer 18

business to business
The customers include manufacturers, wholesalers, retailers, and other organizations.

Question 19

North American industry classification system

Answer 19

The numerical coding system that the United States, Canada, and Mexico use to classify firms into detailed categories according to their business activities.

Question 20

customer reference program

Answer 20

A formalized process by which customers formally share success stories and actively recommend products to other potential clients, usually facilitated through an online community.

Question 21

outsourcing

Answer 21

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