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119 Cards in this Set
- Front
- Back
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Buying Behavior
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The decision processes and actions of people involved in buying and using products
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Consumer buying behavior
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The decision processes and purchasing activities of people who purchase products for personal or household use and not for business purposes
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Consumer buying decision process
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A five stage purchase decision process that includes
problem recognition information search evaluation of alternatives purchase post purchase evaluation |
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Situational Influences
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Physical surroundings
social surroundings time purchase reason buyers mood and condition |
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Psychological influences
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perception
motives learning attitudes personality and self concept lifestyles |
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Social influences
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roles
family reference groups opinion leaders social classes culture and subcultures |
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Internal Search
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An information search in which buyers search their memories for information about products that might solve their problems
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External search
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An information search in which buyers seek information from sources other than their memories
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Consideration set
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A group of brands within a product category that a buyer views as alternatives for possible purchase
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evaluative criteria
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Objective and subjective product characteristics that are important to the buyer
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Cognitive dissonance
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A buyer doubts shortly after a purchase about whether the decision was the right one
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Level of involvement
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An individuals degree of interest in a product and the importance of the product for that person
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Routinized response behavior
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A consumer decision making process used when buying frequently purchased, low cost items that require very little search and decision effort
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Limited decision making
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A consumer decision making process used when purchasing products occasionally or needing information about an unfamiliar brand in a familiar product category
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Extended decision making
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A consumer decision making process employed when purchasing unfamiliar, expensive, or infrequently bought products
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Impulse buying
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An unplanned buying behavior resulting from a powerful urge to buy something immediately
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Perception
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The process of selecting, organizing, and interpreting information inputs to produce meaning
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Information inputs
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Sensations received through the five senses
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Selective exposure
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The process by which some inputs are selected to reach awareness and others are not
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selective distortion
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An individuals changing or twisting of information that is inconsistent with personal feelings or beliefs
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Selective retention
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Remembering information inputs that support personal feelings and beliefs and forgetting inputs that do not
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Motive
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An internal energizing force that directs a persons behavior towards satisfying needs or achieving goals
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Maslows Hierarchy of needs
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The five levels of needs that humans seek to satisfy from most to least important. Top to bottom:
Self actualization needs Esteem needs social media Safety needs Physiological needs |
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Patronage motives
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Motives that influence where a person purchases products on a regular basis
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Learning
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Changes in an individuals thought processes and behavior caused by information and experience
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attitude
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An individuals enduring evaluation of feelings about behavioral tendencies toward and object or idea
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Attitude scale
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A means of measuring consumer attitudes by gauging the intensity of individuals reactions to adjectives, phrases or sentences about an object
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Personality
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A set of internal traits and distinct behavioral tendencies that result in consistent patterns of behavior in certain situations
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Self concept
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A perception or view of oneself
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Lifestyle
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An individuals pattern of living expressed through activities interests and opinions
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Consumer socialization
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The process through which a person acquires the knowledge and skills to function as a consumer
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Reference group
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A group that a person identifies with so strongly that he or she adopts values attitudes and behavior of group members
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Opinion leader
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A member of an informal group who provides information about a specific topic to other group members
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Social class
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An open group of individuals with similar social rank
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Good
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A tangible physical entity
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Service
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An intangible result of the application of human and mechanical efforts to people of objects
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Idea
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A concept philosophy image or issue
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Consumer products
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Products purchased to satisfy personal and family needs
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Business products
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Products bought to use in an organizations operations to resell or to make other products
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convenience products
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Relatively inexpensive frequently purchased items for which buyers exert minimal purchasing effort
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Shopping products
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Items for which buyers are willing to expand considerable effort in planning and making purchases
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Specialty products
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Items with unique characteristics that buyers are willing to expend considerable effort to obtain
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unsought products
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products purchased to solve a sudden problem, products of which customers are unaware and products that people do not necessarily think about buying
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Installations
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Facilities and nonportable major equipment
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Accessory equipment
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Equipment that does not become part of the final physical product but is used in production or office activities
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Raw materials
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Basic natural materials that become part of a physical product
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Component parts
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Items that become part of physical product and are either finished items ready for assembly or products that need little processing before assembly
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Process materials
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Materials that are used directly in the production of other products but are not readily identifiable
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MRO Supplies
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Maintenance, repair, and operating items that facilitate production and operations but do not become part of the finished product
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Business services
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The intangible products that many organizations use in their operations
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Product item
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A specific version of a product that can be designed as a distinct offering among a firms products
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Product line
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A group of closely related product items viewed as a unit because of marketing technical or end use considerations
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Product mix
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The total group of products that an organization makes available to customers
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Width of product mix
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The number of product lines a company offers
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Depth of product mix
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The avg number of different product items offered in each product line
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Product life cycle
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The progression of a product through four stages:
Introduction Growth Maturity Decline |
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Introduction state
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The initial stage of a products life cycle- it's first appearance in the marketplace- when sales start zero and profits are negative
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Growth stage
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The stage if a products life cycle when sales rise rapidly and profits reach a peak and then start to decline
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Maturity stage
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The stage of a products life cycle when the sales curve peaks and starts to decline as profits continue to fall
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Decline stage
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The stage of a products life cycle when sales fall rapidly
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Product adoption process
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The stages buyers go through in accepting a product
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Innovators
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First adopters of new products
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Early adopters
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Careful choosers of new products
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Early majority
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Those adopting new products just before the avg person
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Late majority
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Skeptics adopting new products when they feel it is necessary
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laggards
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The last adopters who distrust new products
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Brand
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A name term design symbol or any other feature that identifies one markets product as distinct from those of other marketers
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Brand name
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The part of a brand that can be spoken
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Brand mark
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The part of a brand not made up of words
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Trademark
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A legal designation of exclusive use of a brand
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Trade name
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full legal name of an organization
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Brand equity
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The marketing and financial value associated with a brands strength in a market
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Brand loyalty
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A customers favorable attitude toward a specific brand
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Brand recognition
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A customers awareness that the brand exists and is an alternative purchase
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Brand preference
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The degree of brand loyalty in which a customer prefers one brand over competitive offerings
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Brand existence
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The degree of brand loyalty in which a customer strongly prefers a specific brand and will accept no substitute
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Manufacturing brands
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Brands initiated by producers
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Private distributor
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Brands initiated and owned by resellers
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Generic Brands
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Brands indicating only the product category
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Individual branding
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A policy of naming each product differently
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Family branding
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Branding all of a firms products with the same name
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Brand extension
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Using an existing brand to brand a new product in a different product category
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Co branding
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Using two or more brands on one product
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Brand licensing
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An agreement whereby a company permits another organization to use its brand on other products for a licensing fee
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Family packaging
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Using similar packaging for all of a firms products or packaging that has one common design element
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Labeling
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Providing identifying, promotional, or other information on package labels
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Line extension
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Development of a product that is closely related to existing products in the line but meets different customer needs
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Product modification
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Change in one or more characteristics of a product
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Quality modifications
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Changes relating to a products dependability and durability
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Functional modifications
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Changes affecting a products versatility, effectiveness, convenience, or safety
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Aesthetic modifications
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Changes to the sensory appeal of a product
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New product development process
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A seven phase process for introducing products
Idea generation Screening Concept testing Business analysis Product development test marketing commercialization |
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Idea generation
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Seeking product ideas to achieve objectives
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Screening
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Choosing the most promising ideas for further review
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Concept testing
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Seeking potential buyers responses to a product idea
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Business analysis
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Evaluating the potential contribution of a product idea to the firms sales, costs, and profits
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Product development
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Determining if producing a product is technically feasible and cost effective
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Test marketing
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Introducing a product on a limited basis to measure the extent to which potential customers will actually buy it
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Commercialization
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Deciding on a full scale manufacturing and marketing plans and preparing budgets
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Product differentiation
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Creating and designing products so that customers perceive them as different from competing products
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Quality
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Characteristics of a product that allow it to perform as expected in satisfying customer needs
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Level of quality
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The amount of quality a product possesses
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Consistency of quality
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The degree to which a product has the same level of quality over time
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Product design
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How a product is conceived planned and produced
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styling
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The physical appearance of a product
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Product features
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Specific design characteristics that allow a product to perform certain tasks
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Customer services
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Human or mechanical efforts or activities that add value to a product
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Product positioning
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Creating and maintaining a certain concept of a product in customers minds
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Product deletion
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Eliminating a product from the product mix
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Intangibility
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A service that is not physical and cannot be touched
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Inseparability
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Being produced and consumed at the same time
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Perishability
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The inability of unused service capacity to be stored for future use
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Heterogeneity
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Variation in quality
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Client based relationships
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Interactions that result in satisfied customers who use a service repeatedly over time
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Customer contact
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The level of interaction between provider and customer needed to deliver the service
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Product manager
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The person within an organization responsible for a product a product line or several distinct products that make up a group
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Brand manager
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The person responsible for a single brand
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Market manager
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The person responsible for managing the marketing activities that serve a particular group of customers
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Venture team
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A cross functional group that creates entirely new products that may be aimed at new markets
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