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23 Cards in this Set

  • Front
  • Back
Consumer buyer behavior
The buying behavior of final consumers-individuals and households who buy goods and services for personal consumption.
(make up consumer market)
Consumer market
All the individuals and households who buy or acquire goods and services for personal consumption.
The set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions.
(most basic cause of a person's wants and behavior)
A group of people with shared value systems based on common life experiences and situations.
(include nationalites, religions, racial groups, and geographic regions)
Social class
Relatively permanent and ordered divisions in a society whose members share similar values, interest, and behaviors.
(7 American social classes)
Two or more people who interact to accomplish individual or mutual goals.
Opinion leader
Person within a reference group who, because of special skills, knowledge, personality, or other characteristics, exerts influence on others.
(some experts call this 10% of Americans)
A person's pattern of living as expressed in his or her activities, interest, and opinions.
(involves measuring consumers' AIO dimensions-activities, interests, and opinions)
The unique psychological characteristics that lead to relatively consistent and lasting responses to one's own environment.
(usually described in terms of traits)
Motive (drive)
A need that is sufficiently pressing to direct the person to seek satisfaction of the need.
The process by which people select, organize, and interpret information to form a meaninful picture of the world.
Changes in an individual's behavior arising from experience.
Cognitive dissonance
Buyer discomfort caused by postpurchase conflict.
New product
A good, service, or idea that is perceived by some potential customers as new.
(it may have been around for a while, but interest is in how consumers learn about products for the first time and how they decide whether to adopt them)
Adoption process
The mental process through which an individual passes from first hearing about an innovation to final adoption.
(adoption is the decision by an individual to become a regular user or the product)
Business buyer behavior
The buying behavior of the organizations that buy goods and services for use in the production of other products and services for the purpose of reselling or renting them to others at a profit.
Derived demand
Business demand that ultimately comes from (derives from) the demand for consumer goods.
(if consumer demand for PCs drops, so will the demand for computer chips)
Straight rebuy
A business buying situation in which the buyer routinely reorders something without any modification.
Modified rebuy
A business buying situation in which the buyer wants to modify product specifications, prices, terms, or suppliers.
New-task situation
A business buying situation in which the buyer purchases a product or service for the first time.
Systems selling
Buying a packaged solution to a problem from a single seller, thus avoiding all the separate decisions involved in a complex buying situation.
(key business marketing strategy for winning & holding accounts)
Buying center
All the individuals and units that participate in the business buying decision process.
(the decision making unit of a buying organization)
Value analysis
An approcah to cost reduction in which components are studied carefully to determine if they can be redesigned, standardized, or made by less costly methods of production.