Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

2nd sem-midterm > MARKETING > Flashcards

MARKETING Flashcards

CH1-3

1
Q

It is the identifying and meeting human and social needs.

A

MARKETING

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Is the societal process that involves individuals and groups satisfying their needs and desires by creating, offering, and exchanging valuable products and services with others.

A

MARKETING

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

It is meeting needs profitably.

A

MARKETING

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

An organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

A

MARKETING

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Scope of Marketing that refers to the physical goods constitute the major part of a country’s production and marketing effort.
Ex: food products, cars, ref, tv.

A

GOODS:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Scope of Marketing that refers to the work of airlines, hotels, car rental firms, barbers and beauticians, accountants, bankers, lawyers, engineers, doctors, software programmers, and management consultants.
Variable mix of goods and services. At a fast-food restaurant, for example, the customer consumes both a product and a service.

A

SERVICES

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

A type of marketing that focuses on creating and hosting events that promote a product, service, or brand.
Ex: Olympics and the World Cup

A

EVENTS

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Offering a mix of both goods and services.
Ex:Walt Disney & World’s Magic Kingdom

A

EXPERIENCES:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Celebrity marketing is a major business.
Ex: Oprah Winfrey, Anne Curtis

A

PERSONS:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Promoting tourist spots to attract tourists, factories, company headquarters, and new residents. It also include economic development specialists, real estate agents, commercial banks, local business associations, and advertising and public relations agencies.
Ex: Dubai, Thailand, Palawan

A

PLACES:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

can be categorized as:
Real property the ownership of real estate
Financial property (stocks and bonds).
Properties are bought and sold, and this occasions a marketing effort by real estate agents (for real estate) and investment companies and banks (for securities).

A

PROPERTIES

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

actively work to build a strong, favorable, and unique image in the minds of their target publics.
Ex: Universities, museums, performing arts organizations, and nonprofits.

A

ORGANIZATIONS

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

can be produced and marketed as product.
Ex: encyclopedies, newspapers, magazines, and books

A

INFORMATION:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Every market offering includes a basic idea. Social Marketers widely promote BLANK.
Ex: “In the factory, we make cosmetics; in the store we sell hope.”

A

IDEAS:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Consumers dislike the product and may even pay a price to avoid it. Ex: services like dental treatments, insurance policies

A

Negative demand:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Consumers may be unaware of or uninterested in the product. Ex: mobile phones made by Blackberry and HTC.

A

Non-existent demand:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Consumers may share a strong need that cannot be satisfied by an existing product. It means that the demand for which the product is not available or is not developed to date.

A

Latent demand:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Consumers begin to buy the product less frequently or not at all.

A

Declining demand:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Consumer purchases vary on a seasonal, monthly, weekly, daily, or even hourly basis. Seasonal

A

Irregular demand:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Consumers are adequately buying all products put into the marketplace.

A

Full demand:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

More consumers would like to buy the product than can be satisfied.

A

Overfull demand:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Consumers may be attracted to products that have undesirable social consequences. Ex: vape, drugs, alcoholic beverages.

A

Unwholesome demand:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

A — is someone who seeks a response—-attention, a purchase, a vote, a donation-from another party, called the prospect.

A

marketer

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Production and Logistics professionals are responsible for supply management
—–are responsible for demand management.

A

Marketers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

was a physical place where buyers and sellers gathered to buy and sell goods.

A

MARKETPLACE-MARKETS: Traditionally, a “market”

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

Economists describe a this place as a collection of buyers and sellers who transact over a particular product or product class

A

market

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

Companies selling mass consumer goods and services such as softdrinks, cosmetics, air travel, and athletic shoes and equipment spend a great deal of time trying to establish a superior brand image.

A

Consumer Markets -

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q
  • Companies selling mass consumer goods and services such as softdrinks, cosmetics, air travel, and athletic shoes and equipment spend a great deal of time trying to establish a superior brand image.
A

Consumer Markets

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

Companies selling business goods and services often face well-trained and well-informed professional buyers who are skilled at evaluating competitive offerings.

A

Business Markets -

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

Companies selling goods and services in this marketplace face additional decisions and challenges. They must decide which countries to enter; how to enter each (as an exporter, licenser, joint venture partner, contract manufacturer, or solo manufacturer)

A

Global Markets -

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
31
Q

Companies selling their goods to nonprofit organizations such as churches, universities, charitable organizations, and government agencies need to price carefully, because these buyers have limited purchasing power.

A

Non-profit and Governmental Markets

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
32
Q

A type of market that is Physical, such as a store you shop in

A

Marketplace:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
33
Q

A type of market that is digital, as when you shop on the Internet.

A

Market space

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
34
Q

A cluster of complementary products and services that are closely related in the minds of consumers, but spread across a diverse set of industries

A

Metamarkets:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
35
Q

Serve other metamarket, such as the home ownership market, the parenting and baby care market, and the wedding market.

A

Metamediaries:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
36
Q

The basic human requirements to survive. Ex: air, food, water, clothing, and shelter

A

Needs:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
37
Q

True or False: Needs become wants when they are directed to specific objects that might satisfy the need.

A

True

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
37
Q

True or False: People also have strong needs for recreation, education, and entertainment.

A

True

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
38
Q

Desires for goods and services we would like to have but do not need.

A

Wants:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
39
Q

True or False: Wants are shaped by our society.

A

True

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
40
Q

Is an economic principle referring to a consumer’s desire to purchase goods and services and willingness to pay a price for a specific good or service.

A

Demand:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
41
Q

:Is when a consumer perceives that they will get a good deal from the company, brand, product or service.

A

Value

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
42
Q

Combination of quality, service, and price (“qsp”),

A

The Customer Value Triad:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
43
Q

True or False:Value and Satisfaction are important concepts in Marketing.

A

True

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
44
Q

True or False:Value is a central marketing concept.

A

true

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
45
Q

blank measures how well the expectations of a customer concerning a product or service provided by your company have been met.

A

Satisfaction:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
46
Q

True or False: We can think of marketing as the identification, creation, communication, delivery, and monitoring of customer value.

A

True

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
47
Q

What are the three key objectives of the marketing

A
  1. Customers: To satisfy the needs, wants, and expectations of target customers
  2. Competition: To outperform competition
  3. Company: To ensure corporate health and profit
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
48
Q

the set of marketing tools that the firm uses to pursue its marketing objectives in the target market.

A

Marketing Mix – 4P’s

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
49
Q

Anything marketed to satisfy a want or a need.

A

Product:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
50
Q

In setting the _______, factors like competition, existing practices on markups, discounts and terms of sale, product appeal, and legal restrictions must be considered.

A

Price:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
51
Q

all the functions, problems, and institutions involved in getting the right product to the target market. It also refers to the channels of distribution that marketers work in and through to move goods from manufacturers to the consumers.

A

Place:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
52
Q

It is concerned with any communication tool used to persuade and influence the target and potential market about the right product that will be sold in the right place at the right price.

A

Promotion:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
53
Q

consumers will favor products that are available and highly affordable and that management should, therefore, focus on improving production and distribution efficiency

A

The Production Concept:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
54
Q

States that consumers will favor products that offer the most quality, performance, and features, and that the organization should, therefore, devote its energy to making continuous product improvements.

A

The Product Concept:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
55
Q

The idea that consumers will not buy enough of the organization’s products unless the organization undertakes a large scale selling and promotion effort

A

The Selling Concept:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
56
Q

Holds that achieving organizational goals depends on determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently than competitors do.

A

The Marketing Concept:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
57
Q

Holds that the organization should determine the needs, wants, and interests of target markets. It should then deliver the desired satisfactions more effectively and efficiently than competitors in a way that maintains or improves the consumer’s and the society’s well-being.

A

The Societal Marketing Concept:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
58
Q

consists of the actors and forces outside marketing that affect marketing management’s ability to develop and maintain successful relationships with its target customers.

A

Marketing Environment:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
59
Q

The —– environment of a firm comprises all those factors which are inside firm marketing activities, including the firms’ employees, firms policies, firms capital assets, firms organizational structure and its products and services.
The firm can control these factors.

A

Internal environment:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
60
Q

Small forces external the company that affect its ability to serve its customers. It refers to the environment which is in direct contact with company and affects the routine activities of business straight away.

A

Micro environment:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
61
Q

Various groups in an organization like the top management, finance, operations, human resourcing, research and development (R&D), accounting etc. Needs to be taken into account by the marketing management for designing the marketing plans.

A

Company

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
62
Q

Are firms and individuals that provide the resources needed by the company and its competitors to produce goods and services.
They are the ones who provide inputs to business like raw materials, parts, cutting tools, equipments, and etc.

A

Suppliers:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
63
Q

An individual or business that purchases another company’s goods or services.

A

Customers:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
64
Q

The most important actors in the company’s microenvironment are its —-.

A

Customers:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
65
Q

Final point of sale. It includes fast-moving consumer goods, clothes, automobiles, and mini-golf, to name a few.

A

Consumer Markets:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
66
Q

There are five types of customer markets that companies might try to target.

A

Consumer Markets:
Business Markets:
Government Markets:
Reseller Markets
International Markets:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
67
Q

Involve business-to-business sales; —— is not selling to the individual consumer but rather another business.

A

Business Markets:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
68
Q

a market where the main buyers are federal, state, and local governmental organizations.

A

Government Markets:

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
69
Q

the market consisting of wholesalers and retailers who buy products for resale purposes.

A

Reseller Markets:

70
Q

is a system of selling goods and services outside of the seller’s home country.

A

International Markets:

71
Q

described as any society that has a definite and hidden interest in or impacts on an organization’s capability to accomplish its objectives.

A

Public:

72
Q
  1. TV, newspapers, radio, etc.
  2. Community groups & surrounding residents.
  3. Minority groups, consumer organizations, and environmental groups.
  4. Government developments
  5. Investment houses, banks and shareholders.
  6. Managers, Directors, and BOD
  7. Public attitude and Public Opinions
A
  1. Media Public:
  2. Local Public:
  3. Citizen Public:
  4. Government Public:
  5. Financial Public: s.
  6. Internal Public:
  7. General Public
73
Q

These are the firms that benefit the organization to
advertise, sell and distribute goods to the absolute buyers.They involve physical distribution firms, middlemen, financial intermediaries, marketing services agencies. Wholesalers and retailers are the middlemen who support the enterprise to search for customers and make sales to them.

A

Marketing Intermediaries:

74
Q

Competitors:
—-: a company that offers the same primary services to the same customer base. Ex: Mcdo & Jollibee
—-: a company that offers the same or similar primary services as part of a wider service offering, or that offers a good or service that can serve as a viable substitute. Ex: Pizza Hut & Burger King

A

Direct Competitor
Indirect Competitor

75
Q

larger societal forces that affect the microenvironment.

A

Macro environment

76
Q

external environment factors greatly influenced the business success, strategies, and decision making

A

Macro environment

77
Q

: Is the study of the human population in terms of size, density, location, age, sex, race, occupation, and other statistics.

A

Demography

78
Q

Involves natural resources that are needed as inputs by marketers or that are affected by marketing activities. Specific areas of concern were:
1. Shortages of raw materials
2. Increased pollution is a worldwide problem
3. Government intervention in natural resource management has caused environmental concerns to be more practical and necessary in business and
industry

A

Natural Environment:

79
Q

Includes forces that creates new technologies, as well as new product and market opportunities. Technology has reshaped in a major way how people communicate, consume information, shop, socialize, and work.

A

Technological Environment:

80
Q

includes laws, government agencies, and pressure groups that influence and limit various organization and individuals in a given society. Current considerations in the market that may impact planning
include factors, e.g. a potential change of government, unstable

A

Political Environment:

81
Q

made up of institution and other forces that affect society’s basic values, perceptions, and behaviors.

A

Cultural Environment:

82
Q

set of patterns of human activity within a community or social group and the symbolic structures that give significance to such activity. Customs, laws, dress, religious beliefs.

A

Culture –

83
Q

The totality of economic factors, such as employment, income, inflation, interest
rates, productivity, and wealth, that influence the buying behavior of consumers and institutions.

A

Economic Environment

84
Q

Group of people with sufficient purchasing power, authority, and willingness to buy.

A

Market:

85
Q

Specific group of people to whom a firm decides to direct its marketing efforts and ultimately its goods and services.

A

Target market:

86
Q

Is the division of the total market into smaller, relatively homogenous groups.

A

Market segmentation:

87
Q

It is a marketing strategy which involves dividing a broad target market into subsets of consumers, businesses, or countries that have, or are perceived to have, common needs, interests, and priorities, and then designing and implementing strategies to target them

A

Market segmentation:

88
Q

WHAT ARE THE CRITERIA FOR EFFECTIVE SEGMENTATION

A
  1. Segment must have measurable size and purchasing power.
  2. Marketers must find a way to promote effectively to and serve the market segment.
  3. Segment must be sufficiently large to offer good profit potential.
  4. Firm must aim for segments that match its marketing capabilities.
89
Q

WHAT ARE THE TYPES OF SEGMENTING CONSUMER MARKETS

A
  • Geographic segmentation.
  • Demographic segmentation.
  • Psychographic segmentation.
  • Behavioral Segmentation
90
Q

SEGMENTATION that refers to dividing the market into different geographical units such as nations, states, regions, countries, cities, or neighborhoods. The company can operate in one or a few areas, or operate in all, but pay attention to local variations. Ex: Disney, Mcdo

A

GEOGRAPHIC SEGMENTATION:

91
Q

SEGMENTATION that refers to divide the market into groups on the basis of variables such as:
Age Education
Gender Nationality
Family Size Generation
Family Life Cycle Race
Income Religion
Occupation

A

DEMOGRAPHIC SEGMENTATION:

92
Q

SEGMENTATION that refers to buyers that are divided into different groups on the basis of psychological/personality traits, lifestyle, or values.
* Social Class : Class A, Class E
* Lifestyle: Achievers, Strivers, Strugglers
* Personality: Compulsive, Gregarious, Authoritarian, Ambitious

A

PSYCHOGRAPHIC SEGMENTATION:

93
Q

SEGMENTATION that refers to
the marketers that divide buyers into groups on the basis of their knowledge of, attitude toward, use of, or response to a product.
Occasions
Attitude
Benefits
Loyalty
Status
User Status
Usage Rate
Buyer Readiness Stage

A

BEHAVIORAL SEGMENTATION:

94
Q

The variables of BLACK are the ff:
Age
Education
Gender
Nationality
Family Size Generation
Family Life Cycle Race
Income Religion
Occupation

A

DEMOGRAPHIC SEGMENTATION

95
Q

These are the variables of this BLANK
* Social Class : Class A, Class E
* Lifestyle: Achievers, Strivers, Strugglers
* Personality: Compulsive, Gregarious, Authoritarian, Ambitious

A

PSYCHOGRAPHIC SEGMENTATION:

96
Q

These are the variables of this BLANK:
Occasions
Attitude
Benefits
Loyalty
Status
User Status
Usage Rate
Buyer Readiness Stage

A

BEHAVIORAL SEGMENTATION:

97
Q

WHAT ARE THE 3 MAJOR STEPS INVOLVES IN TARGET MARKETING

A
  1. Market Segmentation
  2. Market Targeting
  3. Market Positioning:
98
Q

This refers to which is dividing a
market into distinct groups of buyers with different needs, characteristics, or behaviors who might require separate products or marketing mixes.

A

Market Segmentation

99
Q

This refers to which is evaluating each market segment’s attractiveness and selecting one or more of the market segments to enter.

A

Market Targeting

100
Q

This refers to which is setting the competitive positioning for a product and creating a detailed marketing mix

A

Market Positioning

101
Q

A type of marketing that is a more narrowly defined customer group seeking a distinctive mix of benefits. * Example: There are only 50 who uses double bass instrument in the country.

A

NICHE MARKETING:

102
Q

A type of marketing that refers to as: The ultimate level of segmentation leads to “segments of one,” “customized marketing,” or “one-to-one marketing.”A company is customized when it is able to respond to individual customers by customizing its products, services, and messages on a one-to-one basis

A

INDIVIDUAL MARKETING:

103
Q

What are the right order of the steps that companies follow in designing a customer-driven marketing strategy

A
  1. Market segmentation
  2. Market target
  3. Differentiation
  4. Positioning
104
Q

It is used by consumers regarding the market transactions before, during, and after.

A

Buying Decision Process:

105
Q

Consumers’ product and service preferences are constantly changing.

A

Understanding Consumer Behavior

106
Q

Marketing managers must understand these desires in order to create a proper marketing mix for a well defined market.

A

Understanding Consumer Behavior

107
Q

BLANK describes how consumers make purchase decisions and how they use and dispose of the purchased goods or services.

A

Consumer Behavior

108
Q

Consumer behavior also includes factors that influence purchase decisions and product use.

A

Understanding Consumer Behavior

109
Q

WHAT ARE THE 5 STAGES OF CONSUMER BUYING

A
  1. Need or Problem Recognition
  2. Information Search
  3. Evaluation of Alternatives
  4. Purchase Decision
  5. Post Purchase Behavior
110
Q

BLANK oftentimes recognized as the first and most crucial step in the process

A

Need or Problem Recognition:

111
Q

TRUE OR FALSE: A need can be triggered by internal or external stimuli.

A

TRUE

112
Q

BLANK refers to a personal perception experienced by the consumer, such as hunger or thirst.

A

Internal stimuli

113
Q

BLANK include outside influences such as advertising or word-of-mouth.

A

External stimuli

114
Q

TRUE OR FALSE: You need to recognize what the problem or need is and identify the product or type of product which is required.

A

True

115
Q

BLANK during this stage, a consumer who recognizes a specific problem or need will then likely be persuaded to search for information, whether it be internally or externally.

A

Information Search:

116
Q

BLANK refers to a consumer’s memory or reflection of a product, oftentimes triggered or guided by personal experiences.

A

Internal search

117
Q

BLANK is conducted when a person has a prior knowledge about a product seeks information from personal sources (eg: word of mouth from friends/family) and/or public sources (e.g online forums, consumer reports) or marketer dominated sources (e.gs sales persons, advertising).

A

External search

118
Q

BLANK during this stage, consumers evaluate all of their products or brand options on a scale of attributes which have the ability to deliver the benefit
that they are seeking.

A

Evaluation of Alternatives:

119
Q

BELOW ARE THE EXAMPLE OF?
I. Hotels - Location, cleanliness, atmosphere, price
2. Mouthwash - Color, effectiveness,
germ-killing capacity, taste/flavor, price
3. Tires - Safety, tread life, ride quality,
price

A

Evaluation of Alternatives:

120
Q

BLANK during this time, the consumer may form an intention to buy the most preferred brand because he has evaluated all the alternatives and identified the value that it will bring him.

A

Purchase Decision:

121
Q

During this stage, the consumer must decide the following:
1. From whom he should buy,
2. When to buy,
3. Whether to buy

A

Purchase Decision:

122
Q

BLANK these stages are important to keeping customers. Customers match products with their experiences on whether they are either content or discontent with the product. This affects the decision process for resemblant purchases from the same company in the future.

A

Post Purchase Behavior:

123
Q

What Influences of Consumer Behavior?

A
  1. INTERNAL INFLUENCES
  2. EXTERNAL INFLUENCES
124
Q

INTERNAL INFLUENCES FACTORS

A
  1. PERSONAL FACTORS
  2. PSYCHOLOGICAL FACTORS
125
Q

WHAT ARE THE FACTORS OF PERSONAL FACTORS

A
  1. Age
  2. Income/Occupation
  3. Life Style
  4. Personality
126
Q

WHAT ARE THE FACTORS OF PSYCHOLOGICAL FACTORS

A
  1. Motivation
  2. Perception
  3. Learning
  4. Beliefs & Attitude
127
Q

WHAT ARE THE FACTORS OF EXTERNAL INFLUENCES

A
  1. CULTURAL FACTORS
  2. SOCIAL FACTORS
128
Q

FACTORS OF CULTURAL

A
  1. Culture
  2. Sub-Culture
  3. Social Class
129
Q

FACTORS OF SOCIAL

A
  1. Family
  2. Reference Group
  3. Role & Status
130
Q

A major factor that influences buying behavior.

A

Age

131
Q

What personal factors refers to the buying choices of youth differ from that of middle-aged people. Elderly people have a totally different buying behavior. Teenagers will be more interested in buying colorful clothes and beauty products. Middle-aged are focused on house, property and vehicle for the family.

A

Age

132
Q

BLANK has the ability to influence the buying behavior of a person.

A

Income/Occupation:

133
Q

What personal factors refers to higher income gives higher purchasing power to consumers. When a consumer has higher disposable income, it gives more opportunity for the consumer to spend on luxurious products. Whereas low-income or middle-income group consumers spend most of their income on basic needs such as groceries and clothes.

A

Income/Occupation

134
Q

BLANK refers an attitude, and a way in which an individual stay in the society.The buying behavior is highly influenced by the lifestyle of a consumer.

A

Life Style

135
Q

What personal factors refers when a consumer leads a healthy lifestyle, then the products he buys will relate to healthy alternatives to junkfood.

A

Life Style

136
Q

BLANK is usually described in terms of such traits as self-confidence, dominance, autonomy, deference, sociability, defensiveness, and adaptability.

A

Personality:

137
Q

BLANK can be useful in analyzing consumer behavior, provided that personality types can be classified accurately and that strong correlations exist between certain personality types and product or brand choices.

A

Personality

138
Q

BLANK speaks to the needs of the consumer such as the social needs, basic needs, security needs, esteem needs and self-actualization needs.

A

Motivation

139
Q

WHAT ARE THE TYPE OF NEEDS

A
  1. BASIC NEEDS
  2. SECURITY NEEDS
  3. SOCIAL NEEDS
  4. ESTEEM NEEDS
  5. SELF-ACTUALIZATION NEEDS
140
Q

Out of all these needs, the BLANK and BLANK take a position above all other needs.

A
  1. BASIC NEEDS
  2. SECURITY NEEDS
141
Q

BLANK and BLANK have the power to motivate a consumer to buy products and services.

A

basic needs and security needs

142
Q

BLANK is a process where a customer collects information about a product and interprets the information to make a meaningful image about a particular product. When a customer sees advertisements, promotions, customer reviews, social media feedback, etc. relating to a product, they develop an impression about the product.

A

Perception or Customer Perception:

143
Q

WHAT ARE THE THREE PERCEPTUAL PROCESSES

A
  1. Selective Attention, Selective Distortion, Selective Retention
144
Q

It’s estimated that the average person may be exposed to over 1,500 ads or brand communications a day. Because we cannot possibly attend to all these, we screen most stimuli out-a process called BLANK

A

Selective Attention:

145
Q

BLANK is the tendency to interpret information in a way that fits our preconceptions.

A

Selective Distortion:

146
Q

Most of us don’t remember much of the information to which we’re exposed, but we do retain information that supports our attitudes and beliefs.

A

Selective Retention:

147
Q

BLANK means that marketers must work hard to attract consumers’ notice.

A

Selective attention

148
Q

Because of BLANK , we’re likely to remember good points about a product we like and forget good points about competing products.

A

selective retention

149
Q

BLANK again works to the advantage of strong brands.

A

Selective retention

150
Q

Refers to when consumers will often distort information to be consistent with prior brand and product beliefs and expectations.

A

Selective Distortion

151
Q

In BLANK the consumer is exposed to a situation repeatedly, thereby making a consumer develop a response towards it.

A

Conditional Learning

152
Q

Whereas in BLANK, the consumer will apply his knowledge and skills to find satisfaction and a solution from the product that he buys

A

cognitive learning

153
Q

REFERS TO COGNITIVE AND CONDITIONAL LEARNING

A

LEARNING

154
Q

BLANK consumers have certain attitude and beliefs which influence the buying decisions of a consumer. Based on this attitude, the consumer behaves in a particular way towards a product. This attitude plays a significant role in defining the brand image of a product.

A

Beliefs & Attitude:

155
Q

Hence, the marketers try hard to understand the attitude of a consumer to design their marketing campaigns. This refers to?

A

Beliefs & Attitude:

156
Q

BLANK include the basic values, needs, wants, preferences, perceptions, and behaviors that are observed and learned by a consume from their near family members and other important people around them.

A

Culture/Cultural Factors

157
Q

Within a cultural group, there exists many BLANK they share the same set of beliefs and values.

A

Sub-culture:

158
Q

BLANK can consist of people from different religion, caste, geographies and nationalities.

A

Subcultures

159
Q

TRUE OR FALSE: These subcultures by itself form a customer segment.

A

TRUE

160
Q

The BLANK is not just determined by the income, but also other factors such as the occupation, family background, education and residence location.

A

Social Class:

161
Q

BLANK is important to predict the consumer behavior.

A

Social class

162
Q

BLANK plays a significant role in shaping the buying behavior of a person.

A

Family

163
Q

TRUE OR FALSE: A person develops preferences from his childhood by watching family buy products and continues to buy the same products even when they grow up.

A

TRUE

164
Q

BLANK includes individuals or groups that influence our opinions, beliefs, attitudes and behaviors.

A

Reference Group:

165
Q

Marketers view BLANKS as important because they influence how consumers interpret information and make purchasing decisions.

A

reference groups

166
Q

Reference groups can be divided into two major types:

A
  1. Normative Reference Group
  2. Comparative Reference Group
167
Q

A BLANK influences your norms, attitudes, and values through direct interaction.

A

normative reference group

168
Q

Below are the examples of BLANK: include your parents, siblings, teachers, peers, associates and friends.

A

normative reference groups

169
Q

A BLANK is a group of individuals whom you compare yourself against and may strive to be like..

A

comparative reference group

170
Q

This are the examples of what reference groups: celebrities and heroes

A

comparative reference group

171
Q

BLANK is a person is influenced by the role that he holds in the society. If a person is in a high position, his buying behavior will be influenced largely by his status.

A

Role & Status

172
Q

A person who is a Chief Executive Officer in a company will buy according to his status while a staff or an employee of the same company will have different buying pattern. This is an example of?

A

Role & Status

2nd sem-midterm (9 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions