Chapter 5, Marketing, An Introduction; Armstrong and Kotler, 12th edition – Flashcards
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Consumer buyer behavior
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The buying behavior of final consumers--individuals and households that buy goods and services for personal consumption
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Consumer market
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All the individuals and households that buy or acquire goods and services for personal consumption
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Culture
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The set of basic values, perceptions, wants, and behaviours learned by a member of society from family and other important institutions
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Subculture
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A group of people with shared value systems based on common life experiences and situations
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Cross-cultural marketing
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Including ethnic themes and cross-cultural perspectives within a brand's mainstream marketing, appealing to consumer similarities across subcultures rather than differences
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Social class
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Relatively permanent and ordered divisions in a society whose members share similar values, interests, and behaviors
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Group
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Two or more people who interact to accomplish individual or mutual goals
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Word-of-mouth influence
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The impact of the personal words and recommendations of trusted friends, associates, and other consumers on buying behavior
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Opinion leader
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A person within a reference group who, because of special skills, knowledge, personality, or other characteristics, exerts social influence on others
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Online social networks
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Online social communities--blogs, social networking Websites, and other online communities--where people socialize or exchange information and opinions
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Lifestyle
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A person's pattern of living as expressed in his or her activities, interests, and opinions
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Personality
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The unique psychological characteristics that distinguish a person or group
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Motive (drive)
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A need that is sufficiently pressing to direct the person to seek satisfaction of the need
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Perception
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The process by which people select, organise, and interpret information to form a meaningful picture of the world
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Learning
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Changes in an individual's behavior arising from experience
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Belief
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A descriptive thought that a person holds about someting
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Attitude
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A person's consistently favourable or unfavourable evaluations, feelings, and tendencies toward an object or idea
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Cognitive dissonance
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Buyer discomfort caused by postpurchase conflict
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New product
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A good, service, or idea that is perceived by some potential customers as new
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Adoption process
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The mental process though which an individual passes from first hearing about an innovation to final adoption
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Business buyer behavior
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The buying behavior of organizations that buy goods and services for use in the production of other products and services that are sold, rented, or supplied to others
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Business buying process
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The decision process by which business buyers determine which products and services their organizations need to purchase and then find, evaluate, and choose among alternative suppliers and brands
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Derived demand
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Business demand that ultimately comes from (derives form) the demand for consumer goods
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Supplier development
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Systematic development of networks os supplier-partners to ensure an appropriate and dependable supply of products and materials for use in making products or reselling them to others
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Straight rebuy
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A business buying situation in which the buyer routinely reorders something without any modifications
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Modified rebuy
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A business buying situation in which the buyer wants to modify product specifications, prices, terms, or suppliers
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New task
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A business buying situation in which the buyer purchases a product or service for the first time
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Systems selling (or solutions selling)
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Buying a packaged solution to a problem from a single seller, thus avoiding all the separate decisions involved in a complex buying situation
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Buying center
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All the individuals and units that play a role in the purchase decision-making process
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Product value analysis
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Carefully analyzing a product's or service's components to determine if they can be redesigned and made more effectively and efficiently to provide greater value
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E-procurement
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Purchasing though electronic connections between buyers and sellers--usually online
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Consumer Decision Making Process
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1. Problem Recognition 2. Information search 3. Evaluation of Info 4. Purchase 5. Post purchase evaluation
