MT1 - Chapter 5 Vocab Flashcards
consumer buyer behavior
the buying behavior of final consumers (individuals and households that buy goods and services for personal consumption
consumer market
all the individuals and households that buy or acquire goods and services for personal consumption
4 characteristics affecting consumer behavior
cultural
social
personal
psychological
culture
set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions
subculture
a group of people with shared value systems based on common life experiences and situations
cross cultural marketing
the practice of including ethnic themes and cross cultural perspectives within their mainstream marketing
social class
relatively permanent and ordered divisions in a society whose members share similar values, interests, and behaviors
group
two or more people who interact to accomplish individual or mutual goals
word of mouth influence
impact of the personal words and recommendations of trusted friends, associates, and other consumers on buying behavior
opinion leaders (influential/leading adopters)
person within a reference group who, because of special skills, knowledge, personality or other characteristics, exerts social influence on others
buzz marketing
enlisting or even creating opinion leaders to serve as brand ambassadors who spread the word about a company’s products
online social networks
online social communities (blogs, social networking sites, and other online communities) where people socialize or exchange information and opinions
lifestyle
a person’s pattern of living as expressed in his or her activities, interests, and opinions
personality
unique psychological characteristics that distinguish a person or group
brand personality
specific mix of human traits that may be attributable to a particular brand
5 brand personality traits
sincerity excitement competence ruggedness sophistication
motive
a need that is sufficiently pressing to direct the person to seek satisfaction of the need
perception
the process by which people select, organize, and interpret information to form a meaningful picture of the world
selective attention
tendency for people to screen out most of the information to which they are exposed
selective distortion
tendency of people to interpret information into an existing mindset
selective retention
consumers are likely to only remember good points about a brand they favor and forget points about brands they disapprove of
learning
changes in an individual’s behavior arising from experience
belief
a descriptive thought that a person holds about something
attitude
a person’s relatively consistent favorable or unfavorable evaluations, feelings, and tendencies toward an object or idea
complex buying behavior
consumer buying behavior in situations characterized by high consumer involvement in a purchase and significant perceived differences among brands
dissonance reducing buying behavior
consumer buying behavior in situations characterized by high involvement but few perceived differences among brands
habitual buying behavior
consumer buying behavior in situations characterized by low consumer involvement and few significant perceived brand differences
variety seeking buying behavior
consumer buying behavior in situations characterized by low consumer involvement but significant perceived brand differences
5 stages of buyer decision process
need recognition information search evaluation of alternatives purchase decision post-purchase behavior
need recognition
the consumer recognizes a problem or need
information search
consumer is motivated to search for more information
alternative evaluation
consumer uses information to evaluate alternative brands in the choice set
purchase decision
buyer’s decision about which brand to purchase
2 factors: attitudes of others & unexpected situational factors
post-purchase behavior
consumers take further action after purchase, based on satisfaction or dissatisfaction
cognitive dissonance
buyer discomfort caused by post-purchase conflict
new product
good, service or idea that is perceived by some potential customers as new
adoption process
mental process through which an individual passes from first hearing about an innovation to first adoption
5 stages of adoption process
awareness interest evaluation trial adoption
5 adopter groups
innovators early adopters early mainstream late mainstream lagging adopters
5 characteristics influencing adoption rate
relative advantage compatibility complexity divisibility communicability
