Test 1

Question 0

Want

Answer 0

Specific desire that spells out a way a consumer can go about addressing a recognized need.

Question 1

Consumer behavior

Answer 1

Set of value seeking activities that take place as people go about addressing and attempting to address realized needs

Question 2

Value

Answer 2

Costumers evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers

Question 3

Consumption

Answer 3

Process by which goods, services or ideas are used and transformed into value

Question 4

Competitive Pressures

Answer 4

A highly competitive marketplace in which consumers have many alternatives is more likely to result in betters customer service than a place with little competition

Question 5

Consumer orientation

Answer 5

An organized priority in consumer value and satisfaction

Question 6

Relationship marketing

Answer 6

Based on the belief that a firms performance is enhanced through repeat business

Question 7

Touchpoints

Answer 7

The direct contact between firms and a consumer (texts, emails) represents a business building value with customer

Question 8

Product

Answer 8

A collection of potentially valuable benefits

Question 9

Niche marketing

Answer 9

Involves serving one market segment with unique demand characteristics

Question 10

Consumer relationship management (CRM)

Answer 10

Based on the assertion that customers from a relationship with companies rather than companies conducting a transactional exchange of selling and buying

Question 11

External influences

Answer 11

The social and cultural aspects of life as a consumer

Question 12

Utilitarian value

Answer 12

A product that helps a consumer solve problems and accomplish tasks that are a part of being a consumer

Question 13

Hedonic value

Answer 13

The immediate gratification that comes from doing some activity.
Ex. Riding a roller coaster

Question 14

Corporate strategy

Answer 14

Deals with how the firm will be defined and sets general goals

Question 15

Marketing strategy

Answer 15

Refers to the approaches a company uses to create value for customers

Question 16

Marketing tactics

Answer 16

Ways in which marketing management is implemented

Ex. Price, promotion, product

Question 17

Augmented product

Answer 17

The original product plus that extra things needed to increase the value from consumption

Question 18

Total value concept

Answer 18

When companies operate with the understanding that products provide value in multiple ways
Ex. All aspects of a car

Question 19

Marketing mix

Answer 19

The combination of product, pricing, promotion, and distribution used to position the brand in the marketplace

Question 20

Target marketing

Answer 20

Used to signify the particular market segment that a company will serve with a specific marketing mix

Question 21

Market segmentation

Answer 21

The separation of a market into groups based on the different demand curves associated with each group

Question 22

Product differentiation

Answer 22

A marketplace condition in which consumers do not view all competing products as identical to one another

Question 23

Consumer lifetime value (CLV)

Answer 23

Represents the approximate worth of a customer to a company in economic terms

Question 24

Comprehension

Answer 24

When consumers attempt to derive meaning from information they receive

Question 25

Selective exposure

Answer 25

Screens out most stimuli and exposes a person to only a small portion of stimuli

Question 26

Subliminal processing

Answer 26

Refers to the way our brains handle very low-strength stimuli. So low that the person doesn’t know its happening

Question 27

Just noticeable difference (JND)

Answer 27

Represents how much stronger one stimuli is to show someone that the two products are not the same

Question 28

Just meaningful difference (JMD)

Answer 28

Represents the smallest amount of change in a stimulus that would influence consumer consumption and choice

Question 29

More exposure effect

Answer 29

When a consumer shows preference to a familiar object over the unfamiliar

Question 30

Product placements

Answer 30

The placement of branded products conspicuously in movies of shows.
Ex. Coke

Question 31

Attention

Answer 31

He purposeful allocation of cognitive capacity toward understanding some stimulus

Question 32

Involuntary attention

Answer 32

Attention beyond the conscious control of the consumer and that occurs as the result of a surprising stimuli

Question 33

Prior knowledge

Answer 33

Stimuli will be better understood if consumer has some existing knowledge about the information

Question 34

Involvement

Answer 34

Highly involved consumers pay more attention and exert more effort in understanding the message

Question 35

Expectations

Answer 35

Beliefs of what will happen in some situation, they have a major effect on comprehension

Question 36

Schema

Answer 36

A type of associative network that works as a cognitive representation of a phenomenon that provides meaning to that entity

Question 37

Motivations

Answer 37

The inner reasons behind human action as consumers are driven to address real needs

Question 38

Self-improvement

Answer 38

Promotes behaviors that are aimed at changing ones current state to a level that is more ideal

Question 39

Situational involvement

Answer 39

Temporary involvement associated with some eminent purchase situation

Question 40

Enduring involvement

Answer 40

An ongoing interest in some product. Often associated with hedonic values because it is personally gratifying

Question 41

Emotional involvement

Answer 41

The type of deep personal interest that evokes strongly felt feelings associated with some object

Question 42

Emotional expressiveness

Answer 42

A consumer shows outward behavioral signs and reacts in an obvious manner to emotional experiences

Question 43

Emotional intelligence

Answer 43

The ability to control reactions to the emotions

Question 44

Product contamination

Answer 44

The diminished positive feelings that consumers have about a product because another consumer has handled the product