Marketing Chapters 5-8

Front 1

Culture

Back 1

The shared meanings,beliefs, morals,values,and customs of a group of people.

Front 2

Demographics

Back 2

Education age gender ethnicity income.Indicate the characteristics of human populations and segments especially those used to identify consumer markets

Front 3

Generational cohort

Back 3

A group of people of the same generation

Front 4

Green marketing

Back 4

Involves a strategic effort by firms to supply customers with environmentally friendly merchandise

Front 5

What are major factors that influence the state of an economy

Back 5

The rate of inflation, foreign currency exchange rates, and interest rates

Front 6

Inflation

Back 6

Refers to the persistent increase in the prices of goods and services

Front 7

What can influence consumer spending

Back 7

Foreign currency fluctuation

Front 8

Interest rates

Back 8

Represent the cost of borrowing money

Front 9

Political / regulatory environment

Back 9

Comprises of political parties government organizations and legislation and laws

Front 10

What are the 3 C's

Back 10

Company, competitors, corporate.

Front 11

What are the five steps of the consumer decision-making process

Back 11

1. need recognition 2. Search for info 3. Evaluation of alternatives 4. Purchase and consumption 5. Postpurchase

Front 12

What are the two needs in need recognition

Back 12

Functional needs and psychological needs

Front 13

What are the two ways to search for information

Back 13

Internal search and external search

Front 14

What are 2 factors affecting consumer search process

Back 14

1 the personal benefits vs perceived cost of search. 2 the locus of control

Front 15

what is an internal locus of control

Back 15

People who believe they have some control over the outcome of their actions

Front 16

What is an external locus of control

Back 16

Consumers believe that fate or other external factors control all outcomes

Front 17

P what are the five types of risks associated with purchase decisions

Back 17

1 performance risk 2 Financial Risk 3 social risk 4 physiological risk safety risk 5 psychological risk

Front 18

What are three attributes sets of evaluation of the alternative

Back 18

Universal sets, retrieval sets, evoked set

Front 19

P post-purchase cognitive dissonance

Back 19

An internal conflict that arises from an inconsistency between two beliefs or a belief and a behavior

Front 20

Customer loyalty

Back 20

In the post-purchase stage marketers attempt to solidify a loyal relationship with their customers

Front 21

Reference group

Back 21

One or more persons human individual uses as a basis for comparison regarding beliefs feelings and behavior

Front 22

How do reference groups affect the buying decisions

Back 22

Offering information provided rewards before specific purchasing behaviors enhancing consumer self image

Front 23

The three factors influencing the consumer decision process

Back 23

1 psychological factors 2 social factors 3 situational factors

Front 24

Involvement

Back 24

The consumers interest in the product or service

Front 25

Derived demand

Back 25

Reflects the link between consumers demand for a company's output and the company's purchase of necessary Imports to manufacture or Assemble that particular output

Front 26

What are B2B marketers

Back 26

Manufacturers and service providers . Resellers . Institutions. Government.

Front 27

What are the six steps in the business-to-business buying process

Back 27

1 need recognition 2 product specification 3 RFP process 4 proposal analysis . vendor negotiation, and selection 5 order specification 6 vendor performance assessment using metrics

Front 28

All of the people involved in the buying process

Back 28

Initiator, your doctor. Influencer comma medical device supplier, the pharmacy decider the hospital. Buyer. GateKeeper. The patient user the insurance company

Front 29

Globalization

Back 29

Refers to the process by which Goods, Services, Capital , people comma information, and ideas flow across National borders

Front 30

What are four sets of criteria necessary to assess a country's Market

Back 30

One economic analysis 2 infrastructure and technological analysis 3 government actions or inactions 4 social cultural analysis

Front 31

Trade deficit

Back 31

Means that a country Imports more Goods than it exports

Front 32

Trade Surplus

Back 32

A higher level of exports than Imports because it signals a greater opportunity to export products to more marketers

Front 33

Gross domestic product

Back 33

is defined as the market value of goods service product by a country in a year

Front 34

Gross national income

Back 34

Princess of GDP plus the next income earned from Investments abroad

Front 35

Purchasing power party or PPP

Back 35

The theory that states that if the exchange rates of two companies are in equilibrium a product purchased in one will cost the same in the other if expressed in the same currency

Front 36

Tarrif

Back 36

A tax levied on Goods imported into a country

Front 37

Quota

Back 37

Designates a minimum or maximum quantity of a product that may be brought into a country during a specified time period Max or minimum of a product

Front 38

Trading Bloc

Back 38

Consist of those countries that have signed the particular trade agreement