Exam 2 Study Guide Flashcards
Actions a person takes in purchasing and using products and services which includes the mental and social processes that come before and after these actions is known as
Consumer Behavior
Why is the consumer purchase decision process important?
- Arouses need in consumer in order to sell products/services
- Steer consumers to their product and close the deal
- Helps marketers effectively communicate with consumers
What are the 5 steps of the consumer purchase decision process?
Problem Recognition
Information Search
Alternative evaluation
Purchase Decision
Postpurchase Behavior
The decision to buy or use a product is triggered by
Need Arousal
What are the two types of needs?
Functional
Psychological
What part of the consumer purchase decision perceives a need?
Problem Recognition
What part of the consumer purchase decision seeks value?
Information Search
What part of the consumer purchase decision assesses values of products
Alternative Evaluation
What part of the consumer purchase decision focuses on buying value
Purchase Decision
What part of the consumer purchase decision realizes value?
Post purchase behavior
This type of need can be described as based on the performance of a product
Functional Need
This type of need can be described as based on the gratification associated with the product
Psychological Need
What are the two types of information search?
Internal and External
Which type of information search analyzes memories or past experiences and frequently purchased items?
Internal Search
Which type of information searches are personal, public, and marketer driven?
The risk of wrong decision is high and cost of gathering info is low
External Search
What does stage two of information search consist of?
Risk Types
What are the 4 risk types?
Performance
Physiological
Financial
Psychological
The objective and subjective
attributes of different products/brands is known as
Evaluative Criteria
Search attributes that help customers evaluate a product before purchase can be described as what type of criteria?
Tangible Criteria
Experience attributes attributers cannot be evaluated before purchase this can be described as what type of criteria?
Intangible Critera
All the possible choices for a product category is known as a
Universal set
The choices consumer deems acceptable out of all that is known is described as
Consideration Set
What trade offs are involved with a purchase decision?
Quality: high or low
Price: Expensive or cheap
Control: High or low priority
The possible alternatives
are compared and evaluated, whereby
the best option is selected can be described as a?
Purchase Decision
In a purchase decision, what two things are you deciding?
From who to buy
When to buy
The attitude-like judgment following a purchase can be described as
Satisfaction
The uncomfortable state of inconsistency between beliefs and behaviors after purchase decisions is known as
Cognitive Dissonance
The feeling of post purchase psychological tension or anxiety is called
Cognitive Dissonance
The level of personal, social, and economic significance of purchase to the consumer is described as
Involvement
Regular purchased and inexpensive items involve high or low involvement
Low Involvement
Items that are expensive and that have serious personal consequences that could reflect on one’s social image involve high or low involvement?
High Involvement
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What are the influences on consumer behavior?
Marketing Mix influences
Sociocultural influences
Situation influences
Psychological influences
The aspects/influences of the purchase situation that impacts purchase is known as a
Situation Influence
What are the 5 types of situation influences?
Purchase Task
Social Surroundings
Physical Surroundings
Temporal Effects
Antecedent States
The reason for making a decisions is known as a
Purchase Task
Who is with you at the time of purchase that affects decisions is a
Social Surrounding
The store atmosphere, sales people, promotions, crowds, and etc that affects decisions are known as
Physical Surrounding
The time of day or amount of time it takes that affects decisions are known as
Temporal Effects
The mood you are in or they amount of money you have available that affects decisions are known as
Antecedent States
Which influence that affects consumer behavior can affect purchase decision process and help explain how/why consumers behave a certain way
Psychological Influence
The energizing force that stimulates behavior to satisfy a need is known as a
Motive
The need or want strong enough to cause one to seek satisfaction and how marketers try to provoke those needs are described as
Motives
What is Maslow’s Hierarchy of Needs?
Self-actualization
Personal needs
Social needs
Safety needs
Physiological needs
Food, water, shelter, and oxygen are known as what type of needs?
Physiological needs
Freedom from harm and financial security are known as what type of needs?
Safety Needs
Friendship, belonging, and love are known as what type of needs?
Social needs
Status, respect, and prestige are known as what type of needs?
Personal Needs
Self fulfillment are known as what type of needs?
Self-actualization needs
The consistent behaviors or responses to reoccurring situations is known as
Personality
The way you see yourself and think others see you is known as
Self-concept
attributes that you believe you actually possess, or that you believe others believe you possess is known as
Actual
your representation of the
attributes that someone (yourself or another) would like you, ideally, to
possess - usually motivates individuals to change, improve and achieve is known as
Ideal
the process by which an we select, organize and interpret information to create a meaningful
picture of the world is known as
Perception
When you pay attention to information consistent with our beliefs this is known as
Selective Exposure
When you interpret information so it is consistent with our beliefs this is known as
Selective Comprehension
What we remember is known as
Selective Retention
When you see or hear messages without being aware of them is known as
Subliminal Perception
Anxiety felt because consumers can not anticipate an outcome is known as
Perceived Risk
If you’re the category leader of low involvement products, what should marketing managers do?
Maintain products quality
Avoid stock outs
Use repetitive advertising
If you’re the category challenger of low involvement products, what should marketing managers do?
Encourage trial:
free samples
coupons
rebates
If you’re the category leader of high involvement products, what should marketing managers do?
- Have a lot of production information
- Personal selling
- Social media (experiences)
If you’re the category challenger of high involvement products, what should marketing managers do?
- Have comparative advertising
- Novel evaluation criteria
- Internet searches
What are the marketing strategies to reduce perceived risks?
- obtain seals of approval
- secure endorsements
-provide free trial/sample - give extensive instructions
- provide warranties/ guarantees
What are the two types of learning?
Behavioral
Cognitive
The behaviors that result from repeated experience and reasoning is known as
Learning
What term is developed from automatic responses through repeated exposure?
Behavioral Learning
Thinking, reasoning, problem solving, and making connections are defined as
Cognitive Learning
A learned predisposition to respond to an object in a favorable or unfavorable way is known as
Attitude
How can marketers change attitudes?
- Change beliefs about brand’s attributes
- Change perceived importance of attributes
- Add new product attributes
The consistent purchase of a single brand over time is known as
Brand Loyalty
The mode of living that is
identified by how people spend their time and resources is known as
Lifestyle
What term combines
consumer, psychology, lifestyle, and demographics to understand motivation for buying to help marketers segment and target markets
Psychographic
What term describes individuals who exert direct and indirect social influence over others
Opinion Leaders
People influencing each other during conversation is known as
Word-of-mouth
People to whom an individual looks as a basis for self-appraisal or personal standards is known as a
Reference Group
What are the 4 types of reference groups?
Associative group
Aspiration group
Brand community
Dissociative group
A group an individual actually belongs to is known as a
Associative group
A group an individual wishes to be a member of is known as
Aspiration Group
When group or an individual has a relationship with a particular brand this is known as a
Brand Community
A group an individual wishes to maintain distance from
Dissociative Group
The process by which people acquire skills to
function as consumer is known as
Consumer Socialization
subgroups within larger culture with unique
ideas, values and attitude are known as
Subcultures
Which influence that affects consumer behavior is based off of personal influence, reference groups, social class, and culture/ subculture?
Sociocultural Influences
For chapter 5 just use previous slides
the processes by which goods, services, capital, people, information and ideas flow across national
borders is known as
Globalization
What are the 5 trends that affect globalization?
1) Economic protectionism by countries
2) Economic integration among countries
3) Global competition for global customers
4) Networked global marketspace
5) Growing economic espionage
shielding industry within
country from foreign competition through
use of tariff or quota is known as
Protectionism
A tax on goods entering country to raise prices on imports is known as a
Tariff
The restriction on amount of
product allowed to be
imported/exported is known as
Quota
What type of groups formation is a result as their main goal of promotion free trade and to enhance economies?
Transnational Groups
Which transnational group lifted trade barriers between Canada, Mexico, and the US?
NAFTA- North American Free Trade Agreement
The transnational organization NAFTA is soon to have its name replaced to?
U.S- Mexico- Canada Agreement (2019)
when firms originate, produce, and market their products and services worldwide this is known as
Global Competition
What are the 3 types of global firms?
International
Multinational
Transnational
Which type of global firm engages in trade and
marketing in different countries as an extension of
the marketing strategy from its home country. They tend to offer the same product and market the same way in other countries and have typically little investment outside of home borders. This is known as
International Firm
Which type of global firm views world as consisting of unique markets, each very different from one another
Multinational Firm
What marketing strategy have as many different product variations,
brand names, and advertising programs as countries in which
the firm does business
Multidomestic Marketing Strategy
Which type of global firm views the world as one market and emphasizes cultural similarities across markets rather than
differences
Transnational Firm
Which marketing strategy has standardizing marketing activities when there are cultural similarities and
adapting them when cultures differ?
Global Marketing Strategy
The clandestine collection of
trade secrets or proprietary information about competitors is known as
Economic Espionage
What are the 4 ways to assess a global market?
- Economic analysis using metrics
- Infrastructure and tech
- Government actions
- Sociocultural analysis
Which analysis of assessing global markets must consider average per capita or household income and how income is distributed to determine purchasing
power is?
Economic Analysis using metrics
GDP, Gross national income, purchasing power parity, and human development index are all categories of which analysis?
Economic analysis
basic facilities, services,
and installations needed for a community or society to function are known as
Infrastructure
What are some examples of government actions evaluated to assess the global market?
Tariffs
Quotas
Exchange Control
Trade Agreements
Which analysis studies similarities and
differences among
consumers in two or more
nations/societies.
This analysis also includes an analysis of values, customs, symbols, languages and others?
Cross cultural analysis
preferable modes of conduct that persist over time are known as
Values
What is considered normal in a country is known as
Customs
Things that represent ideas and concepts in a specific culture that has the ability to evoke deep feelings is known as a
Cultural Symbiosis
the belief that one culture is superior to another is known as
Cultural Ethnocentricity
the belief it is wrong to purchase foreign-made
products is known as
Consumer Ethnocentrism
What are Hofstede’s cultural dimensions?
Power distance
Uncertainty avoidance
Individualism
Masculinity
Time Orientation
Indulgence
the individual definitions of Hofstedes cultural dimensions can be found in ch 6 cards
What factor(s) determines purchasing power of a country?
Average per capita or household income and how income is distributed
What are the 4 ways to enter a market?
Export
Licensing
Joint Venture
Direct Investment
What type of product sells the same product or service in both the home country market and host country?
Product Extension
What type of product sells a
product or service similar to
that sold in home country
but include minor
adaptations
Product Adaptation
What type of product sells totally new products or services
Product Invention
How do global companies get their products to companies?
Global distribution networks
Consumer shops
Supplies being creative with more as well
How do global companies strategize to market to other economies?
View literacy levels by country
Must decide to adapt to language differences
Must analyze cultural and religious differences by country
