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88 Cards in this Set

  • Front
  • Back
consumer behavior
processes a consumer uses to make purchase decisions, as well as to use and dispose of purchased goods or services
consumer decision-making process
a five-step process used by consumers when buying goods or services
need recognition
result of an imbalance between actual and desired states
any unit of input affecting one or more of the five senses
recognition of an unfulfilled need and a product that will satisfy it
internal info search
process of recalling past info stored in the memory
external info search
process of seeking info in the outside environment
nonmarketing-controlled info source
product info source that is not associated woth advertising or promotion
marketing-controlled info source
product info source that originates with marketers promoting the product
evoked set(consideration set)
group of brands, resulting from an info search, from which a buyer can choose
cognitive dessonance
inner tension that a consumer experiences after recognizing an inconsistency between behavior and values or opinions
amount of time and effort a buyer invests in the search, evaluation, and decision processes of consumer behavior
routine response behavior
type of decision makeing exhibited by conssumers buying frequency purchased, low-cost goods and services
limited decision making
type of decision making that requires a moderate amount of time for gathering info and deliberating about an unfamiliar brand in a familiar product category
extensive decision making
mose complex type of consumer decison making, used when buying unfamiliar, expensive product or an infrequently bought item
set of values, norms, attitudes, and other meaningful symbols that shape human behavior and the artifacts, or products, of the behavior as they are transmitted from one generation to the next
enduring belief that a specific mode of conduct is personally or socially preferable to another mode of conduct
homogeneous group of people who share elements of the overall culture as well as unique elements of their own group
social class
group of people in a society who are considered nearly equal in status or community esteem, who regulary socialize among themselves both formally and informally, and who share behavior norms
reference group
group in society that influences an individuals purchasing behavior
primary membership group
reference group with which people interact regularly in an informal, face-to-face manner, such as family, friends, or fellow employees
secondary membership group
reference group with which people associate less consistently and more formally than a primary membership group
aspirational reference group
group that someone would like to join
value or attitude deemed acceptable by a group
nonaspirational reference group
group with which an individual does not want to associate
opinion leader
individual who influences the opinions of others
socialization process
how culture values and norms are passed down to children
way of organizing and grouping the consistences of an individuals reactions to situations
how consumers percieve themselves in terms of attitudes, perceptions, beliefs, and self-evaluations
ideal self-image
way an individual would like to be
real self-image
way an individual actually percieves himself
mode of living as identified by a persons activities, interests, and opinions
process by which people select, organize, and interperet stimuli into a meaningful and coherent picture
selective exposure
process whereby a consumer notices certain stimuli and ignores others
selective distortion
process whereby a consumer changes or distorts info that conflicts with his or her feelings or beliefs
selective retention
process whereby a consumer remembers only that info that supports his or her personal beliefs
driving force that causes a person to take action to satisfy specific needs
maslows hierarchy of needs
method of classifying human needs and notivations into five categories
process that creatres changes in behaviorm immediate or expected, throughout experience and practice
stimulus generalization
form of learning that occurs when one response is extended to a second stimulus similar to the first
stimulus discrimination
learning ability to differentiate among sililar products
organized pattern of knowledge that an individual holds as true about his or her world
learning rendency to respond consistently topward a given object
buisness marketing
marketing of goods and services to individuals and organizations for purposes other than personal consumption
strategic alliance(strategic partnership)
cooperative agreement between buisness firms
network of interlocking corporate affiliates
original equiptment manufactures
individuals and organizations that buy business goods and incorporate then into the products that they produce
north american industry classification system(NAICS)
detailed numbering system developed by the united states, canada, and mexico to classify north american business establishments by their main production processes
derive demand
demand for buisness products
joint demand
demand for two or more items used together in final product
multiplier effect(accelerator principle)
phenomenon in which a small increase or decrease in consumer demand can produce a much larger change in demand for the facilities and equiptment needed to make the consumer product
practice where buisness purchasers choose to buy from their own customers
major euiptment(installations)
capital goods such as large or expensive machines, mainframe computers, blast furnaces, generators, airplanes, and buildings
accessory equiptment
good, such as portable tools and office equiptment that are less wxpensive and shorter-lived than major equiptment
raw materials
unprocessed extractive or agricultural products suck as mineral ore, lumber, wheat
component parts
either finished items ready for assembly or products that need very little processing before becoming part of some other product
processed materials
products used directly in manufacturing other products
consumable items that do not become part of the final product
business services
expensive items that do not become part of a final product
buying center
all those persons in an organization who become involved in the purchase decision
new buy
situation requiring the purchase of a prosuct for the first time
modified rebuy
situation where the purchaser wants some change in the original good or service
straight rebuy
situation in which the purchaser reorders the same good or service without looking for new info or investigating other suppliers
people or organizations with need or wants and the ability and willingness to buy
market segment
subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs
market segmentation
process of dividing a market into meaningful, realatively similar, and indentifiable segments or groups
segmentation bases(variables)
characteristics of individuals, groups, or organizations
geographic segmentation
segmenting markets by region or a country or the world, market size, market density, or climate
demographic segmentation
segmenting markets by age, gender, income, ethnic background, and family life cycle
family life cycle(FLC)
series of stages determined by a combination of age, marital status, and the presence or absence of children
psychographic segmentaton
segmentation on the basis of personality, motives, lifestyles, and geodemographics
geodemographic segmentation
segmenting potential customers into neighborhood lifestyle categories
benefit segmentation
process of grouping customers into market segments according to the benefits they seek from the product
usage-rate segmentation
dividing a market by the amount of product bought or consumed
80/20 principle
principle holding that 20% of all customers generate 80% of the demand
business customers who place an order with the first familiar supplier to satisfy product and delivery requirements
business customers who consider numerous suppliers and study all proposals carefully before selecting one
target market
group of people or organizations for which an organization designs, implements, and maintains a marketing mix intended to meet the needs of that group
undifferentiated targeting strategy
marketing approach that views the market as one big market with no individual segments and thus uses a single marketing mix
concentrated targeting strategy
strategy used to select one segment of a market for targeting marketing efforts
one segment of a market
multisegment targeting strategy
strategy that chooses two or more well-defined market segments and develops a distinct marketing mix for each
situation that occurs when sales of a new product cut into sales of a firms existing products
one-to-one marketing
individualized marketing method that utilizes customer info to build long-term, personalized, and profitable relationships with each customer
developing a specific marketing mix to influence potential customers overall perception of a brand, product line, or organization in general
place a product, brand, or group of products occupies in consumers minds relative to competing offerings
product differentiation
positioning strategy that some firms use to distinguish their products from those of competitors
perceptual mapping
means of displaying or graphingthe location of products, brands, or groups of products in customers minds