Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key


Play button


Play button




Click to flip

73 Cards in this Set

  • Front
  • Back
The process involved when individuals or
groups select, purchase, use, and dispose of goods, services,
ideas, or experiences to satisfy their needs and desires.
Consumer Behavior
The process that occurs whenever the
consumer sees a significant difference between his or her current state of affairs and some desired or ideal state; this recognition
initiates the decision-making process.
Problem Recognition
The process whereby a consumer searches
for appropriate information to make a reasonable decision.
Information Search
The process by which people select, organize, and
interpret information from the outside world.
An internal state that drives us to satisfy needs by
activating goal-oriented behavior.
A relatively permanent change in behavior caused by
acquired information or experience.
Theories of learning that focus on how consumer behavior is changed by external events or stimuli.
Behavioral Learning
Theory of learning that stresses the
importance of internal mental processes and that views people as problem solvers who actively use information from the world around them to master their environment.
Cognitive Learning
A learned predisposition to respond favorably or unfavorably
to stimuli on the basis of relatively enduring evaluations
of people, objects, and issues.
The psychological characteristics that consistently influence the way a person responds to situations in his or her environment.
The pattern of living that determines how people
choose to spend their time, money, and energy and that reflects
their values, tastes, and preferences.
The use of psychological, sociological, and anthropological
factors to construct market segments.
Situational Influences on Consumer Decisions
The Physical Environment
A person who is frequently able to influence
others’ attitudes or behaviors by virtue of his or her active interest and expertise in one or more product categories.
Opinion leader
The overall rank or social standing of groups of
people within a society according to the value assigned to such
factors as family background, education, occupation, and
Social class
Society’s expectations regarding the appropriate attitudes,
behaviors, and appearance for men and women.
Sex roles
Characteristics that make a difference in business markets
Multiple Buyers
Number of Customers
Size of Purchases
Geographic Concentration
Demand for business or organizational products
derived from demand for consumer goods or services.
Derived Demand
Demand in which changes in price have little or no effect on the amount demanded.
Inelastic Demand
Demand for two or more goods that are used together
to create a product.
Joint Demand
The numerical coding system that the United States, Canada,
and Mexico use to classify firms into detailed categories according
to their business activities.
North American Industry Classification System (NAICS)
The individuals or organizations that purchase products
for use in the production of other goods and services.
The individuals or organizations that buy finished
goods for the purpose of reselling, renting, or leasing to others
to make a profit and to maintain their business operations.
The group of people in an organization who
participate in a purchasing decision.
Buying center
A buying situation in which business buyers
make routine purchases that require minimal decision making.
Straight rebuy
A buying situation classification used by business
buyers to categorize a previously made purchase that involves
some change and that requires limited decision making.
Modified rebuy
A new business-to-business purchase that is complex
or risky and that requires extensive decision making.
New-task buy
Begins the buying process by first recognizing that the firm needs to make a purchase.
A member of the buying center who actually needs the product.
The person who controls the flow of information to other members.
The person(s) who affects the buying decision by dispensing advice or sharing expertise.
The member of the buying center who makes the final decision.
The person who has responsibility for executing the purchase.
Statistics that measure observable aspects of a
population, including size, age, gender, ethnic group, income,
education, occupation, and family structure.
The process of dividing a larger market into smaller pieces based on one or more meaningful, shared characteristics.
.Consumer products that provide benefits over a
long period of time, such as cars, furniture, and appliances.
Durable goods
Consumer products that provide benefits
for a short time because they are consumed (such as food) or
are no longer useful (such as newspapers).
Nondurable Goods
A consumer good or service that is usually
low priced, widely available, and purchased frequently with
a minimum of comparison and effort.
Convenience Product
A good or service for which consumers
spend considerable time and effort gathering information and
comparing alternatives before making a purchase.
Shopping product
A good or service that has unique characteristics
and is important to the buyer and for which the buyer
will devote significant effort to acquire.
Specialty product
Goods or services for which a consumer
has little awareness or interest until the product or a need for
the product is brought to his or her attention.
Unsought product
Expensive goods that an organization uses in its
daily operations that last for a long time.
that a business customer consumes in a relatively short time.
Maintenance, repair, and operating (MRO)
Products of the fishing, lumber, agricultural, and
mining industries that organizational customers purchase to
use in their finished products.
Raw material
Products created when firms transform
raw materials from their original state.
Processed materials
Products created when firms transform
raw materials from their original state.
Processed materials
Manufactured goods or subassemblies of finished
items that organizations need to complete their own
Component parts
A modification of an existing product
that sets one brand apart from its competitors.
Continuous innovations
A change in an existing
product that requires a moderate amount of learning or behavior
Dynamically continuous innovations
A totally new product that creates
major changes in the way we live.
Discontinuous innovations
The first step of product development in
which marketers brainstorm for products that provide customer
benefits and are compatible with the company mission.
Idea generation
The second step
of product development in which marketers test product ideas
for technical and commercial success.
Product concept development and screening
The step in the product development process
in which marketers assess a product’s commercial viability.
Business analysis
The step in the product development
process in which a new product is refined and perfected by
company engineers and the like.
Technical development
The final step in the product development
process in which a new product is launched into the market.
Adoption and Diffusion Process
The first segment (roughly 2.5 percent) of a population
to adopt a new product.
Those who adopt an innovation early in the diffusion
process but after the innovators.
Early adopters
Those whose adoption of a new product signals
a general acceptance of the innovation.
Early majority
The adopters who are willing to try new products
when there is little or no risk associated with the purchase,
when the purchase becomes an economic necessity, or when
there is social pressure to purchase.
Late majority
The last consumers to adopt an innovation.
Product Factors Affecting the Rate of Adoption.
Relative advantage
The characteristic of a service that means customers
can’t see, touch, or smell the service.
The characteristic of a service that makes it impossible
to store for later sale or consumption.
The characteristic of a service that means that even
the same service performed by the same individual for the same
customer can vary.
The characteristic of a service that means that it
is impossible to separate the production of a service from the
consumption of that service.
A marketing research methodology that measures
the difference between a customer’s expectation of a service
quality and what actually occurred.
Gap analysis
A method for measuring service
quality in which marketers use customer complaints to identify
critical incidents; specific face-to-face contacts between consumer
and service providers that cause problems and lead to
Critical incident technique
Product characteristics that the consumer can
examine prior to purchase.
Search qualities
Product characteristics that customers can
determine during or after consumption.
Experience qualities
Product characteristics that are difficult to
evaluate even after they have been experienced.
Credence qualities
The basic benefit of having a service performed.
Core services
The core service plus additional services
provided to enhance value.
Augmented services