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24 Cards in this Set
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- Back
- 3rd side (hint)
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buying behavior of final consumers - individuals and households the buy goods and services for personal consumption
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Consumer buyer behavior
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all individuals and households that buy goods and services for personal consumption
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consumer market
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300 million Americans purchase $14 Trillion of goods
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What 4 things influence consumer purchases?
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Cultural Factors
Social Factors Personal Factors Psychological Factors |
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What are 3 cultural factors?
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Culture
Subculture social class |
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What are 3 social factors
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groups & social networks
family roles & status |
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What are 5 personal factors?
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age & life-cycle stage
occupation economic situation lifestyle personaly & self-concept |
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What are 4 psychological factors?
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motivation
perception learning beliefs & attitudes |
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What are consumer buying roles?
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Initiator
Influencer Decider Buyer User |
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What are the 5 stages of Buying Decision Behavior?
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Need Recognition
Info Search Evaluation of Alternatives Purchase Decision Post-Purchases Behavior |
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What is cognitive dissonance?
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after a purchase, the difference between consumer's expectations of a product and the perceived performance or satisfaction with product.
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What are the 5 stages in the adoption process of a new product?
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Awareness
Interest Evaluation Trial Adoption |
the mental process through which an individual passes from first hearing about an innovation to final adoption
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What the 5 invidivual differences in innovation?
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Innovators
Early Adopters Early Majority Late Majority Laggards |
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What are the 5 characteristics that influence the rate of adoption?
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Relative Advantage
Compatability Complexity Divisibility Communicability |
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What is the buying behavior of the organizations that buy good and services for use in the production of other products and services or to resell or rent them to others at a profit?
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Business Buyer Behavior
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What are the characteristics of business markets?
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Market structure and demand
Nature of the buying unit Types of decisions and decision process |
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What is a business buying situation in which the buyer routinely reorders something without any modifications?
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Straight Rebuy
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What is a business buying situation in which the buyer wants to modify product specifications, prices, terms, or suppliers?
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Modified Rebuy
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What is a business buying situation in which the buyer purchases a product or sercive for the first time?
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New Task
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What is buying a packaged solution to a problem from a single seller, thurs avoiding separate decisions involved in a complex buying situation?
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System selling (turnkey)
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What is all individuals and units that play a role in the purchase decision-making process
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Buying Center
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Who are the 5 participants in Business Buying Process?
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Users
Influencers Buyers Deciders Gatekeepers |
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Environmental factors
Organizational factors Interpersonal factors Individual factors |
Influences on Business Buyers
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Problem Recognition
Need Description Product Specification Supplier Search Proposal - RFP Supplier Selection Order-routine Specification Performance Review |
Business Buying Decision Process
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Government business buying
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centralized buying
watched carefully by public cronyism many publications |
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