Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
15 Cards in this Set
- Front
- Back
Consumer Behavior
|
The behavior that consumers display in searching for, purchasing, using, evaluating and disposing of products and services that they expect will satisfy their needs.
|
|
Consumer Decision Making
|
Cognititve and emotional aspects such as impulse, family, friends, advertisers, role models, moods, and situations that influence a purchase.
|
|
Consumer Research
|
Methodology used to study consumer behavior.
|
|
Customer Retention
|
Providing value to customers continuously so they will stay with the company rather than switch to another firm.
|
|
Customer Satisfaction
|
An individual's perception of the performance of the product or service in relation to his or her expectations.
|
|
Customer Value
|
The ratio between the customer's perceived benefits and the resources used to obtain those benefits.
|
|
Marketing Concept
|
A consumer-oriented philosophy that suggests that satisfaction of consumer needs provides the focus for product development and marketing strategy to enable the firm to meet its own organizational goals.
|
|
Marketing Ethics
|
Designing, packaging, pricing, advertising, and distributing products in such a way that negative consequences to consumers, employees, and society in general are avoided.
|
|
Marketing Mix
|
The unique configuration of the four marketing variables (product, promotion, price, and channels of distribution) that a marketing organization controls.
|
|
Market Segmentation
|
The process of dividing a potential market into distinct subsets of consumers and selecting one or more segments as a target market to be reached with a distinct marketing mix.
|
|
Organizational Consumer
|
A business, government agency, or other institution (profit or nonprofit) that buys the goods, sevices, and/or equipment necessary for the organization to function.
|
|
Personal Consumer
|
The individual who buys goods and services for his or her own use, for household use, for the use of a family member, or for a friend.
|
|
Positioning
|
Establishing a specific image for a brand in relation to competing brands.
|
|
Societal Marketing Concept
|
A revision of the traditional marketing concept that suggests that marketers adhere to principals of social responsibility in the marketing of their goods and services; that is, they must endeavor to satisfy the needs and wants of their target markets in ways that preserve and enhance the well-being of consumers and society as a whole.
|
|
Targeting
|
The selection of a distinct market segment at which to direct a marketing strategy.
|