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66 Cards in this Set
- Front
- Back
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Consumer Behavior
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The actions a person takes in purchasing and using products and services, including the mental and social processes that come before nad after these actions.
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Purchase Decision Process
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This process has five stages: 1. problem recognition 2. information search 3. alternative evaluation 4. purchase decision 5. postpurchase behavior.
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Problem Recognition
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Perceiving a difference between a person's ideal and actual sitations big enough to trigger a decision.
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Information Search
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1. Interal Search-scan your memory for previous experiences with our products or brands. 2. External Search-when a past experience or knowledge is insufficient.
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Evaluative Criteria
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Represent both the objective attributes of a brand and the subjective ones you use to compare different products and brands.
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Consideration Set
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The group of brands that a consumer would consider acceptable from all the others in the same product class.
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Cognitive Dissonance
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Post-purchase psychological tension or anxiety.
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High Involvement
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Consumers engage in extensive information search, form attitudes and word of mouth. Is either (1) expensive (2) can have serious personal consequences or (3) could reflect on one's social image.
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Low Involvement
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Barely involve most of us. EX. soap or toothpaste
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Extending Problem Solving
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Each of the five stages of the consumer purchase decision is used in the purchase.
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Limited Problem Solving
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Consumers typically seek some information or rely on a friend to help them evaluate alternatives.
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Routine Problem Solving
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Consumers recognize a problem, make a decision, and spend little effort seeking external information and evaluating alternatives.
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Situational Influences
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(1) the purchase task-engaging in the decision (2) social surroundings-other people present when decision is made (3) physical surroundings-decor, music and crowding in retail stores (4) temporal effects-time of day or amount of time available (5) antecedent states-consumer's mood or amount of cash on hand.
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Motivation
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What drives you to behave.
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Personality
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Person's consistient behaviors or responses to recurring situations.
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Hierarchy of Needs
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Physiological Needs, Safety Needs, Social Needs, Personal Needs, and Self-Actualization Needs.
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Perception
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The process by which and individual selects, organizes, and interprets information to create a meaningful picture of the world.
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Selective Perception
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A filtering of exposure, comprehension, and retention.
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Selective Exposure
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When people pay attention to messages that are consistent with their attitudes and beliefs and ignore messages that are inconsistient.
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Selective Comprehension
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Interpreting information so that it is consistient with your attitudes and beliefs.
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Selective Retention
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Consumers do not remember all the information they see, hear, or read, even minutes after exposure to it.
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Subliminal Perception
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You see or hear messages without being aware of them.
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Percieved Risk
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Anxieties felt because the consumer can not antipate the outcomes of a purchase but believes that there may be negative consequences.
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Learning
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(1)Repeated Experience or (2)Reasoning
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Behavioral Learning
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The process of developing automatic responses to a situation built up through repeated exposure to it.
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Cognitive Learning
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Consumers learn thought thinking, reasoning, and mental problem solving without direct experience.
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Brand Loyalty
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Favorable attitude toward and consistent purchase of a single brand over time.
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Attitude
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Shaped by our values and beliefs.
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Beliefs
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A consumer's subjective perception of how a product or brand performs on different attributes.
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Lifestyle
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Mode of living that is idenified by how people spend their time and resources, what they consider important in their environment, and what they think of themselves and the world around them.
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Opinion Leaders
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Influences others choices.
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Word of Mouth
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Influence people during conversation.
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Refrence Groups
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People to whom an individual looks as a basis for self-appraisal or as a source of personal standards.
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Business Marketing
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The marketing of goods and services to companies, governments, or not-for-profit organizations for use in the creation of goods and services that they can produce and market to others.
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Industrial Firms
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Reprocess a product or service they buy before selling it again to the next buyer.
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Reseller Markets
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Wholesalers and retailers that buy physical products and resell them again without any reprocessing.
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Government Units
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The federal, state, and local agencies that buy goods and services for the constituents they serve.
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Derived Demand
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The demand for industrial products and services is driven by, or derived from, demand for consumer products and services.
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Size of the Order or Purchase
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Involved in organization buying is typically much larger than that in consumer buying.
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Number of Potential Buyers
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Try to reach thousands or millions of individuals or households.
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ISO 9000
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International Standards Organization
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Reverse Marketing
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Delibrate effort by organizational buyers to build relationships that shape suppliers products, services and capablities to fit a buyer's need.
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Reciprocity
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Industrial buying practice in which two organizations agree to purchase each other's products and services.
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Supply Partnership
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Buyer and supplier adopt mutually benefits objectives, policies and procedures for the purpose of lowering the cose of increasing value or products.
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Buying Center
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Share common goals.
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Buying Committee
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Buying center highly formalized.
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Straight Rebuy
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Reorders the same product
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Modified Rebuy
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Want to change product specifications
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New Buy
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First time buyer
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Make-Buy Decision
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Purchased outside or built by the company itself.
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Value Analysis
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Systematic appraisal of design, quality, and performance.
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Bidder's List
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A list of firms believed to be qualified to supply a given item.
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Countertrade
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The practice of using barter rather than money for making global sales.
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Trade Feedback Effect
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Imports affects exports and vice versa
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Gross Domestic Product
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Monetary value of all goods and services produced in a country during one year.
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Balance of Trade
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The difference between the monetary value of a nation's exports and imports.
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Market Research
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Definding problems and opportunities, collecting and analyzing actions.
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Five Step Marketing Research Approach to Making Better Decisions
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1. Define the Problem 2. Develop Research Plan 3. Collect Relevant Information 4. Develop Findings 5. Take Marketing Actions
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Define the Problem
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Set the search objectives and idenify possible marketing actions.
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Develop a Research Plan
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Specify contraints (Time and Money), idenify data needed for marketing actions, and determine how to collect data.
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Collect Relevant Information by Specifying
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Secondary data (facts and figures already recorded) and primary data (facts and figures newly collected).
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Developing Findings
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Analyze data and present findings.
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Take Marketing Actions
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Make actions recommendations, implement action recommendations, and evaluate results.
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Exploratory Research
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Provides ideas about a relatively vague problem
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Descriptive Research
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Trying to find the frequency that something occurs or the extent of a relationship between two factors.
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Causal Research
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Tries to determine the extent to which the change in one factor changes another one.
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