Marketing Test #2

Front 1

consumer behavior

Back 1

Processes a consumer uses to make purchase decisions, as well as to use and dispose of purchased goods or services; also includes factors that influence purchase decisions and product use.

Front 2

consumer decision-making process

Back 2

A five-step process used by consumers when buying goods or services.

Front 3

need recognition

Back 3

Result of an imbalance between actual and desired states.

Front 4

stimulus

Back 4

Any unit of input affecting one or more of the five senses: sight, smell, taste, touch, hearing.

Front 5

want

Back 5

Recognition of an unfulfilled need and a product that will satisfy it.

Front 6

internal information search

Back 6

The process of recalling past information stored in the memory.

Front 7

external information search

Back 7

The process of seeking information in the outside enviroment

Front 8

nonmarketing-controlled information source

Back 8

A product information source that is not associated with advertising or promotion

Front 9

marketing-controlled information source

Back 9

A product information source that originates with marketers promoting the products

Front 10

evoked set (consideration set)

Back 10

A group of brands, resulting from an information search, from which a buyer can choose.

Front 11

cognitive dissonance

Back 11

Inner tension that a consumer experiences after recognizing an inconsistency between behavior and values or opinions.

Front 12

involvment

Back 12

The amount of time and effort a buyer invests in the search, evaluation, and decision processes of consumer behavior.

Front 13

routine response behavior

Back 13

The type of decision making exhibited by consumers buying frequently purchased, low-cost goods and services; requires little search and decision time.

Front 14

limited decision making

Back 14

The type of decsion making that requires a moderate amount of time for gathering information and deliberating about an unfamiliar brand in a familiar product category.

Front 15

extensive decision making

Back 15

The most complex type of consumer decision making, used when buying an unfamiliar, expensive product or an infrequently bought item; requires use of several criteria for evaluating options and much time for seeking information

Front 16

culture

Back 16

The set of values, norms, attitudes, and other meaningful symbols that shape human behavior and the artifacts, or products, of that behavior as they are transmitted from one generation to the next.

Front 17

value

Back 17

The enduring belief that a specific mode of conduct is personally or socially preferable to another mode of conduct.

Front 18

subculture

Back 18

A homogeneous group of people who share elements of the overall culture as well as unique elements of their own group

Front 19

social class

Back 19

A group of people in a society who are considered nearly equal in status or community esteem, who regularly socialize among themselves both formally and informally, and who share behavioral norms.

Front 20

reference group

Back 20

A group in society that influences an individual's purchasing behavior

Front 21

primary membership group

Back 21

A reference group with which people interact regularly in an informal, face-to-face manner, such as family, friends, or fellow employees.

Front 22

secondary membership group

Back 22

A reference group with which people who associate less consistently and more formally than a primary membership group, such as a club, professional group, or religious group

Front 23

aspirational reference group

Back 23

A group that someone would like to join.

Front 24

norm

Back 24

A value or attitude deemed acceptable by a group

Front 25

non aspirational reference group

Back 25

A group with which an individual does not want to associate

Front 26

opinion leader

Back 26

An individual who influences the opinions of others.

Front 27

socialization process

Back 27

How cultural values and norms are passed down to children

Front 28

personality

Back 28

A way of organizing and grouping the consistencies of an individual's reactions to situations.

Front 29

self-concept

Back 29

How consumers perceive themselves in terms of attitudes, perceptions, beliefs, and self-evalutations

Front 30

ideal self-image

Back 30

The way an individual would like to be.

Front 31

real self-image

Back 31

The way an person actually perceives himself or herself.

Front 32

lifestyle

Back 32

A mode of living as identified by a person's activities, interests, and opinions.

Front 33

perception

Back 33

The process by which people select organize, and interpret stimuli into a meaningful and coherent picture.

Front 34

selective exposure

Back 34

The process whereby a consumer changes or distorts information that conflicts with his or her feelings or beliefs.

Front 35

selective retention

Back 35

A process whereby a consumer remembers only that information that supports his or her personal beliefs.

Front 36

motive

Back 36

A driving force that causes a person to take action to satisfy specific needs.

Front 37

learning

Back 37

A process that creates changes in behavior, immediate or expected, through experience and practice.

Front 38

stimulus generalization

Back 38

A form of learning that occurs when one response is extended to a second stimulus similar to the first.

Front 39

stimulus discrimination

Back 39

A learned ability to differentiate among similar products

Front 40

belief

Back 40

An organized pattern of knowledge that an individual holds as true about his or her world.

Front 41

attitude

Back 41

A learned tendency to respond consistently toward a given object.

Front 42

business marketing

Back 42

The marketing of goods and services to individuals and organizations for purposes other than personal consumption.

Front 43

strategic alliance

Back 43

A cooperative agreement between business firms.

Front 44

keiretsu

Back 44

A network of interlocking corporate affiliates.

Front 45

original equipment manufacturers (OEMs)

Back 45

Persons and organizations that buy business goods and incorporate them into the products that they produce for eventual sale to other producers or to consumers.

Front 46

North American Industry Classification System (NAICS)

Back 46

A detailed numbering system developed by the US, Canada, and Mexico to classify North American business establishments by their main production processes.

Front 47

derived demand

Back 47

The demand for business products

Front 48

joint demand

Back 48

The demand for two or more items used together in a final product

Front 49

multiplier effect (accelerator principle)

Back 49

Phenomenon in which a small increase or decrease in consumer demand can produce a much larger changed in demand for the facilities and equipment needed to make the consumer product.

Front 50

reciprocity

Back 50

A practice where business purchasers choose to buy from their won customers.

Front 51

major equipment (installations)

Back 51

Capital goods such as large or expensive machines, mainframe computers, blast furnaces, generators, airplanes, and buildings

Front 52

accessory equipment

Back 52

Goods, such as portable tools and office equipment, that are less expensive and shorter-lived than major equipment.

Front 53

raw materials

Back 53

Unprocessed extractive or agricultural products, such as mineral ore, lumber, wheat, corn, fruits, vegetables, and fish

Front 54

component parts

Back 54

Either finished items ready for assembly or products that need very little processing before becoming part of some product.

Front 55

processed materials

Back 55

Products used directly in manufacturing other products

Front 56

supplies

Back 56

Consumable items that do not become part of the final product.

Front 57

business services

Back 57

Expense items that do not become part of a final product.

Front 58

buying center

Back 58

All those persons in a organization who become involved in the purchase decision.

Front 59

new buy

Back 59

A situation requiring the purchase of a product for the first time

Front 60

modified rebuy

Back 60

A situation where the purchaser wants some change in the original good or service.

Front 61

straight rebuy

Back 61

A situation in which the purchaser reorders the same goods or services without looking for new information or investigating other suppliers.

Front 62

Segmentation bases

Back 62

Characteristics of individuals, groups, or organizations

Front 63

geographic segmentation

Back 63

Segmenting markets by region of a country or the world, market size, market density, or climate

Front 64

demographic segmentation

Back 64

Segmenting markets by age, gender, income, ethnic background, and family life cycle

Front 65

family life cycle (FLC)

Back 65

A series of stages determined by a combination of age, marital status, and the presence or absence of children.

Front 66

psychographic segmentation

Back 66

Market segmentation on the basis of personality, motives, lifestyles, and geodemographics

Front 67

geodemographic segmentation

Back 67

Segmenting potential customers into neighborhood lifestyle categories.

Front 68

benefit segmentation

Back 68

The process of grouping customers into market segments according to the benefits they seek from the product.

Front 69

Usage-rate segmentation

Back 69

Dividing a market by the amount of product bought or consumed

Front 70

80/20 principle

Back 70

A principle holding that 20 percent of all customers generate 80 percent of the demand.

Front 71

satisficers

Back 71

Business customers who place an order with the first familiar supplier to satisfy product and delivery requirements.

Front 72

optimizers

Back 72

Business customers who consider numerous suppliers, both familiar and unfamiliar, solicit bids, and study all proposals carefully before selecting one.

Front 73

niche

Back 73

one segment of a market.

Front 74

positioning

Back 74

Developing a specific marketing mix to influence potential customers' overall perception of a brand, product line, or org in general

Front 75

position

Back 75

The place a product occupies in consumers' minds relative to competing offerings.

Front 76

product differentiation

Back 76

A position strategy that some firms use to distinguish their products from those of competitors.

Front 77

perceptual mapping

Back 77

A means of displaying or graphing, in two or more dimensions, the location of products, brands, or groups of products in customers' minds.

Front 78

Repositioning

Back 78

Changing consumers' perceptions of a brand in relation to competing brands