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64 Cards in this Set
- Front
- Back
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Who is at the center of all marketing activities |
The consumer |
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What does the immediate environment include? |
The firm and its immediate influences |
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What strategy should you use with your competitors? |
Proactive strategy |
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What involves visual nuances of a country's culture such as artifacts, behavior, dress, etc.. |
Country culture |
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What is the shared meanings beliefs morals values and customs of a group of people |
Culture |
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What indicates the characteristics of human populations and segments especially those used to identify consumer markets |
Demographics |
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What is a group of people of the same generation |
Generational cohort |
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What comprises political parties, government organizations, and legislation and laws |
Political/regulatory environment |
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What involves the region in which people live in a particular country |
Regional culture |
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What are michael porters five competitive forces? |
1. Rivalry among existing companies 2. Threat of new entrants 3. Substitute products 4. Power of suppliers 5. Power of buyers |
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What are the macroenvironmental factors |
Culture. Demographics, political, technological, economic |
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What are three prime social trends? |
Health concerns, greener consumers, privacy concerns |
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What takes into account how consumers feel about how the economy is doing? |
Consumer confidence index |
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What three stages does the business cycle include? |
Prosperity, recession, and recovery |
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What is increasing economic growth. |
Prosperity |
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What is decreasing economic growth |
Recession |
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What is stabilizing or rising economic growth after a recession |
Recovery |
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What is an overall rise in prices that can occur during any stage of the business cycle |
Inflation |
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What is a persons enduring evaluation of his or her feelings about and behavioral tendencies toward an object or idea |
attitude |
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What is the consumer decision process |
Need recognition, information search, alternative evaluation, purchase, post purchase. |
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What are the set of criteria that consumers use consciously or subconsciously to quickly and efficiently select from among several alternatives |
Consumer decision rules |
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What are product or service features that are important to the buyer and on which competing brands or stores are perceived to differ |
Determinant attributes |
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What consist of a set of salient or important attributes about a particular product |
Evaluative criteria |
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What compromises the alternative brands or stores at the consumer States he or she would consider when making a purchase decision |
Consumers evoked set |
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What occurs during a purchase decision that calls for a lot of effort and time |
Extended problem solving |
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What pertains to the performance if a product or service |
Functional needs |
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What describes a purchase decision process in which consumers engage little conscious effort |
Habitual decision making |
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What ud a buying decision made by customers on the sport when they see the merchandise |
Impulse buying |
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What is the consumers degree of interest in the product or service |
Involvement |
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What occurs during a purchase decision that calls for, at most, a moderate amount of effort and time |
Limited problem solving |
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What is the process by which we select organize, and interpret information to form a meaningful picture of the world. |
Perception |
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What pertains to the personal gratification consumers associate with a product and/or service |
Psychological needs |
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What are the brands or stores that can be readily brought forth from memory |
Retrieval sets |
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What is a pattern of behaviors tied to life events that affect what and how we consume |
Ritual consumption |
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What are products or services for which consumers will spend time comparing alternatives |
Shopping goods/services |
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What are factors specific to the situation |
Situational factors |
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What are products or services toward which the customer shows a strong preference and for which he it she will expend considerable effort to search for the best suppliers |
Speciality goods/ services |
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What includes all possible choices for a product category |
Universal sets |
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What pertains to the performance of a product or service |
Functional needs |
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What pertains to the personal gratification consumers associate with a product or service? |
Psychological needs |
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What is when a buyer examines his or her memory and knowledge about the product or service |
Internal search for information |
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What is when a buyer seeks information outside his or her personal knowledge base to help make the buying decision |
External search for information |
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What involves the perceived danger inherent in a poorly performing product or service |
Performance risk |
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What is associated with a monetary outlay and includes the initial cost of the purchase as well as the costs of using the item or service. |
Financial risk |
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What involves the fears that consumers suffer when they worry others might not regard their purchases positively. |
Social risk |
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What refers to the fear of an actual harm shoulfnthe product not perform properly |
Physiological or safety risk |
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What are those risks associated with the way people will feel if the product or service does not convey the right images . |
Psychological risks |
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What is the psychological uncomfortable state produced by an inconsistency between beliefs and behaviors that I'm turn evokes a motivation to reduce the dissonance |
Buyers remorse |
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What is in the PSSP hierarchy of needs |
Physiological. Safety, love. Esteem, self actualization |
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What is the process by which we select organize and interpret information to form a meaningful picture of the world. |
Perception |
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What affects both attitudes and perceptions |
Learning |
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What is a group that ibe or more persons whom an individual uses as a basis for comparison regarding beliefs, feelings, and behaviors |
Reference group |
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What refers to the process of buying and selling goods or services to be used in the production of other goods and services, for consumption by the buying organization, and/or for resale by wholesalers and retailers |
B2b Marketing |
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What participants are people responsible for the buying decisions |
Buying center |
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What is a process through which buying organizations invite alternative suppliers to bid on supplying their required components. |
Request for proposals (RFP) |
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What are marketing intermediaries that resell manufactured products without significantly altering their form |
Resellers |
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What is the govts method of classifying business activity |
North American Industry Classification System |
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What groups consumers on the basis of the benefits they derive from products or services |
Benefit segmentation |
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What groups consumers according to easily measured objective characteristics such as age, gender, income , and education |
Demographic segmentation |
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What uses a combination of geographic, demographic, and lifestyle characteristics to classify consumers |
Geodemographic segmentation |
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What organizes customers into groups on the basis of where they live |
Geographic segmentation |
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What divides customers into groups based on how they use the product or service |
Behavioral segmentation |
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What allows people to describe themselves using characteristics that help them choose how they occupy their time (behavior) and what underlying psychological reasons determine these choices. |
Psychographics or psychographic sgementation |
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What is a psychographic tool that classifies consumers into eight categories based on their answers to a questionnaire |
Value and lifestyle survey (VALS) |
