Exam 1 Flashcards
Consumer behavior
study of individuals,
groups, or organizations to
satisfy needs and the impacts that these
processes have on the consumer and society.
total product
engaged in processing info and making decisions designed to maintain or enhance its lifestyle
Market segmentation
a portion of a larger
market whose needs
differ from the larger
market.
marketing strategy
basically the answer to the question
marketing mix
product, price, communications, distribution, and services
target market
the segment(s) of the larger market
marketing communications
advertising, the sales force, public relations, packaging, etc
Self-concept
the totality of
an individual’s thoughts and
feelings about oneself
Lifestyle
how one lives,
including the products one
buys, how one uses them, what
one thinks about them, and
how one feels about them
globalization
Means more than exports and imports.
Can involve values, lifestyles, attitudes
culture
complex whole that
includes knowledge,
belief, art, law,
morals, customs,
and any other
capabilities and
habits acquired by
humans as
members of society.
norms
boundaries that culture sets on appropriate behavior
sanctions
penalties for violating norms
other-oriented values
reflect a society’s view of the appropriate relations between individuals and groups
environment-oriented values
a society’s relationship to its economic and technical as well as its physical environment
self-oriented values
objectives and approaches to life that the individual members of society find desirable
Demographics
describe a population in terms of its size,
structure, and distribution
Purchasing Power Parity (PPP)
based on the cost of a standard market basket of
products bought in each country
Green Marketing
Americans’ increasing concern for the environment with an approach
greenwashing
promoting
environmental benefits that are unsubstantiated and on
which they don’t deliver
Cause-Related Marketing (CRM)
marketing that ties a company
and its products to an issue or
cause with the goal of improving
sales or corporate image while
providing benefits to the cause.
cultural values
beliefs that affirm what is desirable
Generation or age cohort
a group of persons who have
experienced a common social,
political, historical, and
economic environment.
Cohort analysis
process
of describing and explaining the
attitudes, values and behaviors
of an age group as well as
predicting its future attitudes,
values, and behaviors.
Societal rank
one’s position relative to others on one or
more dimensions valued by society
social class system
a hierarchical division of a society
into relatively distinct and homogeneous groups with respect
to attitudes, values, and lifestyles
Status crystallization
reflects the consistency of these status dimensions
Single-item index.
less accurate. single dimension such as education, income or occupation.
Multi-item index
numerous variables reflect societal views
Index of social position (ISP)
