Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
45 Cards in this Set
- Front
- Back
•Consumerbehavior
|
the process individuals or groups go through to select, purchase, use and dispose of products in order to satisfy their wants and needs
|
|
involvement
|
the amount of time and effort a buyer invests in the search, evaluation, and decision processes of consumer behavior
|
|
perceived risk |
the belief that choice of a product has potentially negative consequences, whether financial, physical or social. |
|
sensory marketing |
marketing techniques that link distinct sensory experiences such as a unique fragrance with a product or service |
|
sensory branding |
the use of distinct sensory experiences not only to appeal to customers but also to enhance their brand |
|
time poverty |
consumers' belief that they are more pressed for time than ever before |
|
culture |
the values, belief, customs, and tastes a group of people values |
|
subculture |
a group within a society whose members share a distinctive set of beliefs, characteristics or common experiences |
|
microcultures |
groups of consumers who identify with a specific activity or art form |
|
consumerism |
a social movement that attempts to protect consumers from harmful business practices |
|
social class
|
a group of people in a society who are considered nearly equal in status or community esteem, who regularly socialize among themselves both formally and informally, and who share behavioral norms
|
|
status symbols |
visible markers that provide a way for people to flaunt their membership in higher social classes |
|
mass class |
the hundreds of millions of global consumers who now enjoy a level of purchasing power that's sufficient to let them afford high quality products |
|
reference group
|
a group in society that influences an individual's purchasing behavior
|
|
opinion leader
|
an individual who influences the opinions of others
|
|
gender roles |
society's expectation regarding the appropriate attitudes, behaviors. and appearance for men and women |
|
business-to-business (B2B) markets |
The group of customers that include manufacturers, wholesalers, retailers, and other organizations |
|
organizational markets |
Another name for B2B markets |
|
Derived demand |
Demand for business or organizational products caused by demand for consumer goods or services |
|
Inelastic demand |
Demand in which changes in price have little or no effect on the amount demande |
|
Joint demand |
Demand for two or more goods that are used together to create a product |
|
Producers |
The individuals or organizations that purchase products for use in the production of other goods and services |
|
Resellers |
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 |
|
Government markets |
The federal, state, county, and local governments that buy goods and services to carry out public objectives and to support their operations |
|
North American Industry Classsification System (NAICS) |
The numerical coding system that the US, Canada, and Mexico use to classify firms into detailed categories according to their business activities. |
|
Buyclass |
One of three classifications of business buying situations that characterizes the degree of time and effort required to make a decision. |
|
Straight rebuy |
A buying situation in which business buyers make routine purchases that require minimal decision making. |
|
Modified 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. |
|
New-task buy |
A new business-to-business purchase that is complex or risky and that requires extensive decision making. |
|
Buying center |
The group of people in an organization who participate in a purchasing decision. |
|
Product specification |
A written description of the quality, size, weight, and other details required of a product purchase. |
|
Customer reference program |
A formalized process by which customers formally share success stories and actively recommend products to other potential clients, usually facilitated through an on-line community. |
|
Single sourcing |
The business practice of buying a particular product from only one supplier |
|
Multiple sourcing |
The business practice of buying a particular product from several different suppliers. |
|
Reciprocity |
A trading partnership in which two firms agree to buy from one another. |
|
Outsourcing |
The business buying process of obtaining outside vendors to provide goods or services that otherwise might be supplied in-house |
|
Offshoring |
A process by which companies contract with companies or individuals in remote places like China or India to perform work they used to do at home. |
|
Crowdsourcing |
A practice in which firms outsource marketing activities (such as selecting an ad) to a community of users |
|
Reverse marketing |
A business practice in which a buyer firm attempts to identify suppliers who will produce products according to the buyer firm's specifications |
|
Business-to-business (B2B) e-commerce |
On-line exchanges between companies and individual consumers |
|
Intranet |
An internal corporate communication network that uses internet technology to link company departments, employees, and databases |
|
Extranet |
A private, corporate computer network that links company departments, employees, and databases to suppliers, customers, and others outside the organization. |
|
Malware |
Software designed specifically to damage or disrupt computer systems |
|
Firewall |
A combination of hardware and software that ensures that only authorized individuals gain entry into a computer system |
|
Encryption |
The process of scrambling a message so that only another individual (or computer) with the right "key" can unscramble it. |