Marketing Test Study Guide

Front 1

Consumer Decision making Process

Back 1

1 - Problem Recognition
2 - Information Search
3 - Alternative Evaluation
4 - Purchase Decision
5 - Post-purchase behavior

Front 2

Functional vs. Psychological Needs

Back 2

Functional needs - better product for your needs
Psychological - personal gratification (girls and shoes)

Front 3

Internal Search vs. External Search

Back 3

Internal - scanning your memory, appropriate when not as important, frequent purchase
External - actively looking for info, cost of search low, risk of bad choice high, and past experience is not enough

Front 4

Cognitive Dissonance

Back 4

Buyers regret, post-purchase tension or anxiety
Ways to alleviate - ask for approval, 1-800 numbers after purchase

Front 5

Selective exposure

Back 5

filter exposure to be consistent with beliefs

Front 6

Selective distortion

Back 6

take something and change meaning to be consistent with beliefs

Front 7

Selective retention

Back 7

only remember things that are relevant to you

Front 8

Subliminal perception

Back 8

unaware of perceptions going on around you

Front 9

Experimental Learning

Back 9

Modeling, vicarious learning

Front 10

Behavioral Learning

Back 10

Automatic responses, stimulus generalization and stimulus discrimination

Front 11

Cognitive Learning

Back 11

involves thinking/problem solving

Front 12

Situational Influences

Back 12

Purchase task, social surroundings, physical surroundings, temporal effects, antecedent states

Front 13

Involvement

Back 13

the level of perceived personal importance and or intrest evoked by a stimulus within a specific situation

Front 14

Routine Problem Solving

Back 14

50% of purchase occasions

Front 15

Limited Problem Solving

Back 15

38% of purchase occasions

Front 16

Extended Problem Solving

Back 16

about 12% of purchase situations

Front 17

Mass Marketing

Back 17

seller mass products, distributes, and promotes one product to all buyers

Front 18

Differentiated Segmentation

Back 18

targeting several markets

Front 19

Concentrated Segmentation

Back 19

selecting single market and putting all energy there

Front 20

Micromarketing segmentation

Back 20

One-to-one marketing

Front 21

6 Bases of Segment Markets

Back 21

Geographic, demographic, psychographic, geodemographic, benefits, behavioral

Front 22

Characteristics of Effective Segments

Back 22

Measurable, accessible, substantial, actionable

Front 23

Perceptual Map

Back 23

x and y axis graph that positions products

Front 24

Marketing Research

Back 24

the process of collecting and using information for marketing decision-making

Front 25

5 Stages in Marketing Research

Back 25

1 - Defining Objectives
2 - Designing the Research Project
3 - Data Collection
4 - Analyzing Data
5 - Presenting Results

Front 26

Defining Objectives

Back 26

Define the problem, all concerned parties understand the problem and agree on it

Front 27

The Research Plan

Back 27

a series of choices that comprise a master pan for conducting marketing research

Front 28

Data Collection

Back 28

Secondary (previously published, cheaper) data and Primary (more detailed) data

Front 29

Types of Research

Back 29

Exploratory, conclusive

Front 30

Analyzing Data

Back 30

Converting data into information to explain, predict and or evaluate a particular situation

Front 31

Interpreting and Presenting Information

Back 31

Summary, Body, Conclusions, Limitations, and Supplements

Front 32

Primary Data

Back 32

collected for the first time, specifically for a marketing research study

Front 33

Secondary Data

Back 33

data from previously published or compiled sources

Front 34

Syndicated Data

Back 34

can be obtained through commercial real estate firms

Front 35

Exploratory Research

Back 35

Observation, interviews, focus groups, projective techniques

Front 36

Conclusive Research

Back 36

Casual, experimental, surveys, panel data, scanner data

Front 37

Universal

Back 37

all possible choices

Front 38

Retrieval

Back 38

Brands readily brought into memory

Front 39

Evoked

Back 39

brands consumer is considering

Front 40

Determinant Attributes

Back 40

features of product important to buyer

Front 41

Compensatory decision rule

Back 41

consumers trade off characteristics when evaluating product

Front 42

Non-compensatory decision rule

Back 42

one characteristic overrides others

Front 43

Decision heuristic

Back 43

mental shortcuts to narrow decisions

Front 44

Maslow's Hierarchy

Back 44

pyramid diagram

Front 45

cognitive component

Back 45

reflects persons beliefs

Front 46

Affective component

Back 46

how you feel on issue

Front 47

behavioral component

Back 47

actions we tack based on feelings