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5 Cards in this Set

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  • Back
Conceptual model
A model that does not contain sufficient detail to predict particular behaviors but contains the beliefs about the general nature of a given theory.
Consumer behavior
The study of individuals, groups, or organizations and the processes they use to select, secure, use and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these have on the consumer and society.
Consumer cost
Everything the consumer must surrender in order to receive the benefits of owning/using the product.
Customer satisfaction
When customers are satisfied with their purchase and the use of the product.
Customer value
The difference between all the benefits derived from a total product and all the costs of acquiring those benefits.