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53 Cards in this Set
- Front
- Back
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1. Describe the four major categories of factors that influence consumer behavior.
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Cultural, social, personal, psychological
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2. What is the term for smaller groups of people in a culture that have some shared value systems that are different from the primary culture?
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Subculture
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3. List several subcultures in the U.S, that are not based on ethnicity.
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Nationality, religion, geographic regions
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4. What factors are used to measure social class?
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Occupation, income, education, wealth.
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5. What defines "blue collar", "white collar" and "professional" work?
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Social Class
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6. "Family” is one of the strongest ______ factors that influence consumer buying behavior.
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Social
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7. Groups to which an individual wishes to belong, such as when a teenage girl examines ads of glamorous women to copy their clothing, jewelry, etc. in hopes to become part of that group are called
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Roles and status.
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8. How do you define "opinion leaders"?
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influence other peoples based on skill, knowledge
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9. What are AIO measurements?
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Activities, interests, opinions
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10. Of the four major categories of factors that influence consumer behavior, which one includes the buyer’s age, occupation, lifestyle, personality, and self-concept?
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Personal
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11. A consumer’s _____________ (status or role) consists of the activities they are expected to perform according to the people around them.
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Social Factors
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12. What is the correct order (bottom to top on pyramid) of the five levels of the Maslow Need Hierarchy?
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Psychological, safety, social, esteem, self-actualization
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13. A consumer goes through a Buyer Decision Process to make a purchase, which involves these five steps:
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Need recognition, information search, evaluation of alternatives, purchase decision, post purchase behavior.
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14. What is the Adoption Model measuring? What are the five categories of adopters? – Measures mental process from hearing to adopting.
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Awareness, interest, evaluation, trial, adoption.
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15. What are the five product characteristics that influence how quickly consumers adopt a new product?
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Relative advantage, compatibility, complexity, divisibility, communicability
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16. What are the five stages a consumer goes through in the process of adopting a new product?
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Awareness, interest, evaluation, trail, product adoption.
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17. What is the difference between “post-purchase behavior” and “cognitive dissonance”?
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one is satisfaction after purchase, other is moral disagreement
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18. Five product characteristics that influence the consumer’s rate of adoption are:
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Relative advantage, compatibility, complexity, divisibility, and communicability
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19. Explain the parts of the “Buying Center” and explain if it is a real or hypothetical buying center.
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users, buyers, influencers, gatekeepers, deciders.
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20. Give an example of an industrial buyer who is using a “modified rebuy” to make a company purchase.
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changes price or other aspects of a purchase order (flea market)
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21. What is Derived Demand?
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business demand for products that derives from demand of goods
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22. The four major steps to successful target marketing are:
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massmarketing, differentiated marketing, concentrated marketing, micromarketing
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23. If you sell pet supplies and decide to segment the market using Behavioral variables, what might you use? How about if you use Demographic variables? Psychographic? Geographic?
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age, location, lifestyle and personality of consumers
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24. What do companies like PRIZM or VALS provide to marketing managers?
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Market segmentation research
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25. Market Segment
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accessible, defined, suitable, actionable, measurable
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26. What is the marketing term for “mass marketing” and what does it mean?
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go after whole market with one offer.
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27. What is the marketing term for targeting two or more segments and creating a different marketing mix for each segment?
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Differentiated marketing
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28. What is the marketing term for marketing to individual consumers?
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Micromarketing
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29. What is "niche" marketing? Is it different from "Concentrated" marketing?
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same. Firm goes after large share or a few segments.
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31. What is the definition of Competitive Advantage?
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advantage is gained by offering greater value, by having lower price or more benefits.
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32. How is a product’s positioning on a perceptual positioning map determined?
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based on buyers perspective
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33. Product Strategy requires five basic decision categories, which are:
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product attributes, branding, packaging, labeling, support services.
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34. The classification for goods purchased to become a part of a business for either what it is making/selling or for running the business is ________.
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Industrial goods.
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35. The classification for goods purchased for final consumption is _______________.
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Consumer product
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36. Understand the four categories of Consumer Goods.
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Convenience, shopping, specialty, unsought
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37. Understand the three categories of Industrial Goods.
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Parts, Capital items, Supplies
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38. Which is this, a Product Mix or a Product Line: Company X sells 5 kinds of tennis shoes, 6 styles of purses, and a variety of t-shirts.
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Product Mix
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39. Which is this, a Product Mix or a Product Line: Company X sells potato chips, corn chips, and several flavors of tortilla chips.
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Product line
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40. Kerosene was a registered brand name when the product was introduced but after many years the name was legally released as a term to be used by every company selling this kind of product. The name Kerosene became a _____________ brand.
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Generic
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41. The financial value of a brand is called its _______. What is the Apple brand worth?
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Brand Equity, 153 Mill
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42. Give an example of a Brand Extension; also give an example of a Multibrand.
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New color, size, coke a cola
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43. How would you increase the Width of your product mix?
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Add more product lines
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44. How would you increase the Length of your product line?
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Add more items in lines
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45. Why would a retailer carry a Private Label? (also known as: private brand, retailer brand, or store brand)
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store brands Kroger.
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46. What are the four major characteristics that must be taken into account when marketing Services?
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intangibility, inseparability, variability, perishability
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47. What percentage of new consumer products fail within 12 months?
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67% established 90% new
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48. What are some of the reasons new products fail?
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wrong size, wrong time, priced too high, bad advertising.
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49. Explain the activities that occur during the eight stages of the New Product Development process.
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idea generation, idea screening, concept development and testing, marketing strategy development, business analysis, product development, test marketing, commericialization.
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50. Draw the Product Life Cycle (PLC) Model, label the axes and the four stages of sales.
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Pg 242
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51. Which stage of the PLC has low sales but high costs?
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introduction stage
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52. Which stage of the PLC is at the peak of sales with prices matching the competition and promotion focusing on the brand, not the product.
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Maturity stage
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53. How does promotion change as a product moves through the stages of the PLC?
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Starts high, and veers back
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54. During the Decline stage, is it still possible to make a profit or should you stop producing the product?
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Both. You could stop or hold back.
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