Chapter 5, Marketing, An Introduction; Armstrong and Kotler, 12th edition

question

Consumer buyer behavior
answer

The buying behavior of final consumers–individuals and households that buy goods and services for personal consumption
question

Consumer market
answer

All the individuals and households that buy or acquire goods and services for personal consumption
question

Culture
answer

The set of basic values, perceptions, wants, and behaviours learned by a member of society from family and other important institutions
question

Subculture
answer

A group of people with shared value systems based on common life experiences and situations
question

Cross-cultural marketing
answer

Including ethnic themes and cross-cultural perspectives within a brand’s mainstream marketing, appealing to consumer similarities across subcultures rather than differences
question

Social class
answer

Relatively permanent and ordered divisions in a society whose members share similar values, interests, and behaviors
question

Group
answer

Two or more people who interact to accomplish individual or mutual goals
question

Word-of-mouth influence
answer

The impact of the personal words and recommendations of trusted friends, associates, and other consumers on buying behavior
question

Opinion leader
answer

A person within a reference group who, because of special skills, knowledge, personality, or other characteristics, exerts social influence on others
question

Online social networks
answer

Online social communities–blogs, social networking Websites, and other online communities–where people socialize or exchange information and opinions
question

Lifestyle
answer

A person’s pattern of living as expressed in his or her activities, interests, and opinions
question

Personality
answer

The unique psychological characteristics that distinguish a person or group
question

Motive (drive)
answer

A need that is sufficiently pressing to direct the person to seek satisfaction of the need
question

Perception
answer

The process by which people select, organise, and interpret information to form a meaningful picture of the world
question

Learning
answer

Changes in an individual’s behavior arising from experience
question

Belief
answer

A descriptive thought that a person holds about someting
question

Attitude
answer

A person’s consistently favourable or unfavourable evaluations, feelings, and tendencies toward an object or idea
question

Cognitive dissonance
answer

Buyer discomfort caused by postpurchase conflict
question

New product
answer

A good, service, or idea that is perceived by some potential customers as new
question

Adoption process
answer

The mental process though which an individual passes from first hearing about an innovation to final adoption
question

Business buyer behavior
answer

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
question

Business buying process
answer

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
question

Derived demand
answer

Business demand that ultimately comes from (derives form) the demand for consumer goods
question

Supplier development
answer

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
question

Straight rebuy
answer

A business buying situation in which the buyer routinely reorders something without any modifications
question

Modified rebuy
answer

A business buying situation in which the buyer wants to modify product specifications, prices, terms, or suppliers
question

New task
answer

A business buying situation in which the buyer purchases a product or service for the first time
question

Systems selling (or solutions selling)
answer

Buying a packaged solution to a problem from a single seller, thus avoiding all the separate decisions involved in a complex buying situation
question

Buying center
answer

All the individuals and units that play a role in the purchase decision-making process
question

Product value analysis
answer

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
question

E-procurement
answer

Purchasing though electronic connections between buyers and sellers–usually online
question

Consumer Decision Making Process
answer

1. Problem Recognition 2. Information search 3. Evaluation of Info 4. Purchase 5. Post purchase evaluation

Get instant access to
all materials

Become a Member