question

6 External forces:

answer

Competitive, economic, political, legal and regulatory, technological and sociocultural

question

Technology provides a digital deliverey of products which is an efficient and effective way to reach the ____________ ___________.

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Global Market

question

Marketers continue to modify their marketing strategy to in response to ______ ______.

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Environmental Forces

question

The process of collecting information about the forces in the marketing environment

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Environmental scanning

question

Environmental Scanning involves:

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-Observation -Secondary Sources (business, trade, general-interest publication) -Marketing research

question

What is todays most popular scanning tool?

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The internet

question

The process of assessing and interpreting the information gathered through environmental scanning

answer

Environmental Analysis

question

Understanding the current state of the marketing environment and recognizing threats and opportunities that mights arise from changes within it can help companies in their _____ ____.

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Strategic Planning

question

What two general approaches do Marketing managers take towards environmental forces?

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-Accepting them as uncontrollable (passive, reactive) -trying to influence and shape them in some way (proactive)

question

Whether to take a proactive or reactive approach to environmental forces is based on a companies ----- -- ----.

answer

Strengths and weaknesses

question

Other firms that market products similar or substitute for our product

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Competition

question

Two or more companies that have similar feature and benefits and prices. (coke and pepsi)

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Brand competitors

question

Companies that compete in the same product class but market products with different features benefits and price (Iced tea instead of soda)

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Product competitors

question

Different products that satisfy same basic customer need. (water from tap vs soda)

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Generic competitor

question

companies that compete for limited financial resources of a customer (Soda vs. gum/newspaper/banana

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Total budget competitors

question

Marketers tend to focus environmental analysis on _____________ __________ competitions bc they are the most sifnificant competitors bc direct substitute

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Brand competitors

question

organization offers a product that has no close substitutes, making them the sole source of supply (Google)

answer

Monopoly

question

when few sellers control the supply of a large proportion of a product (airlines) -few competitors -some barriers -slightly different product from other few competitors

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Oligopoly

question

In Oligopoly each seller considers the reaction of _______________ _______________ to the changes in marketing activity.

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Other sellers

question

A company with many potential competitors attempts to develop a marketing strategy to differentiate its product

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Monopolistic Competition

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A competition that has an extremely large number of sellers none of which could significantly influence price or supply. (farmers market) - easy to enter market -homogeneous market

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Pure Competition

question

What influences a firms strategic approach to markets?

answer

Competitive Intensity

question

One marketing strategy that most competitors monitor?

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Price

question

understanding the market and what customers want as well as what the competition is providing will assist in maintaining a ___ ____.

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Market orientation

question

Business cycle consists of four stages:

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prosperity, recession, depression, and recovery

question

economic variations in the global marketing place creates planning challenge for firms that sell in?

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Multiple markets around the world

question

during prosperity unemployment is ____ and total income is relatively _______?

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Low; High

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Prosperity and low inflation rates ensures high?

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Buying power

question

during recession marketers sometimes make hte mistake of drastically reducing their _______ _______ which damages their ability to survive.

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Marketing efforts

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A prolonged _________ may be come a _______, a period which unemployment is extremely high wages are very low total disposable income is at a minimum and consumers lack confidence in the economy

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Recession; Depression

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marketers face problems during ___________ , as it is difficult to predict how quickly and to what level prosperity will return.

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Recovery

question

the strength of a persons ______ ______ depends on economic conditions and the size of the resources (money) that can be traded in an exchange that enable the individual to make purchases

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Buying power

question

___________ is usually allocated among taxes, spending for goods , and savings.

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Income

question

the _________ _______ ___________ ________ for the US is 53,657.

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Median annual household income

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Marketers are most interested in the amount of money left after byment of taxes bc this _______ ______ is used for spending or saving ( including necessary expenses)

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disposable income

question

Factors that decided amount of disposable income

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-price of taxes -how high the income is

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whats left of Disposable income that can be spent on fun things( after Necessary expenses are paid ) is called?

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Discretionary Income

question

Changes in total _______ effects sales of many costly durable goods.

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Discretionary income

question

_____________ increase current buying power at the expense of future buying power.

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Credit

question

_____________ ____________ affects buyers willingness to use credit, especially for expensive purchases.

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Interest Rates

question

____________ is an accumulation of past income, natural resources and financial resources.

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Wealth

question

what 3 things equip consumers with buying powers to purchase goods and services

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Income, credit and wealth

question

a products price and value has the most influence of a customers ________ __ ________.

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Willingness to spend

question

what does the following list influence? -future employment, - income levels, - prices, -family size, -general economic conditions

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Consumers willingness to spend

question

the __________ _________ ___________ ______ ________ (created to protect consumers from financial deception), is blamed by many political leaders for slowing down the economic recovery, and adding extra costs and uncertainty to business decision making

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New consumer financial protection bureau

question

Political officials can play key roles in helping organizations do what ?

answer

Secure foreign markets

question

due to the court can Citizens united vs federal election commission corporations now ....?

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have no restriction on how much they can back a candidate

question

Many organizations that are concerned about a threat of legislation or regulation that may negatively afftect their operations will do what?

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employ lobbyist to express their concerns to elected officials

question

Most laws focus on these particular marketing activities:

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-product development and testing -packaging, - labeling; - advertising -consumer financing

question

Many companies are choosing to provide incentive that fosters culture of ethics and responsibility that encourages compliance with ___________ and _____________.

answer

laws and regulations

question

the federal trade commission (FTC) allocates a large portion of resources to curbing what 3 things?

answer

-False advertising -Misleading prices -deceptive packaging and labeling

question

Of all the federal regulatory units, which one influences marketing activities the most?

answer

Federal Trade Commission (FTC)

question

If the FTC thinks a company is violating the law it will first do what? and if that is ignored what will they do next?

answer

1. issue a complaint 2. issue a cease and desist

question

If a firm takes the FTC to court the FTC has the right to charge how much a day for each infraction if a cease and desist order is violated?

answer

$10,000

question

The FTC can require a company to run __________ _________ in response to previous ads deemed misleading.

answer

Corrective Advertising

question

a system of nongovernmental, independent, local regulatory agencies that are supported by local businesses

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Better Business Bureau (BBB)

question

_______________ __________ _________ lacks the tools or authority to enforce guidelines

answer

Self - regulatory programs

question

Guidelines in self regulatory programs are often _______________ strict than those established by governmental agencies.

answer

Less

question

_______________________- is more than just phones, vehicles, radios etc., those are just the outgrowth of it. this terms definition is actually the application of knowledge and tools to solve problems and perform tasks more efficiently.

answer

technology

question

________________ ________________________ ____________ has transformed the US economy into the most productive in the world and provided Americans with a ___________ standard of living.

answer

-Rapid technological growth -Higher

question

The phenomenon -- known as the ___________ __ ___________-- will greatly impact how we do business and live our daily lives.

answer

Internet of things

question

Its estimated that us adults average about ___ hours and ____ minutes a day on digital devices. Users worldwide spend about ________ percent of time on social networking sites.

answer

1 hour and 16 minutes; 28%

question

the effects of _______________________ relate to characteristics such as dynamics, reach and self- sustaining nature of technological progress

answer

Technology

question

The ____________________ of technology involve the constant change that challenges companies.

answer

Dynamics

question

the __________ of technology refers to the broad nature of technology as it moves through society

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Reach

question

the _______________ of technology relates to the fact that technology acts as a catalyst to spur even faster development.

answer

Self - sustaining Nature

question

Our increased reliance on computer technology for business purposes has led to an increased risk of ______________ or _____________ ___________

answer

Hacking or data theft

question

the influences in a society and its culture that brings about changes to peoples attitudes , beliefs, norms, customs, and lifestyles is called what?

answer

SOCIOCULTURAL FORCES

question

Sociocultural forces examines three major issues:

answer

demographic/diversity characteristics, Cultural values Consumerism

question

What is the following list describing: Age gender race ethnicity marital and parental status income education

answer

Demographics/ diversity characteristics;

question

US populations will INCREASE or DECREASE without immigration.

answer

DECREASE

question

Organized efforts by individuals groups and organizations to protect consumers rights.

answer

Consumerism

question

consists of purchasers and household members who intend to consume and benefit from the purchased products and do not intend to use them to make a profit (aka business-to-consumer (B2C) markets) ex: IKEA marketing to consumers

answer

Consumer Market

question

consists of individuals or groups that purchase a specific kind of product for one of 3 purposes: resale, direct use in producing other products, or use in general daily operations. (aka business-to-business (B2B) markets) ex: Dropbox Business marketing to business'

answer

Business Market

question

1. Identify the appropriate targeting strategy 2. Determine which segmentation variables to use 3. Develop market segment profiles 4. Evaluate relevant market segments 5. Select specific target markets

answer

Target Market Selection Process

question

A group of people or organizations for which a business creates and maintains a marketing mix specifically designed to satisfy the needs of group members. (strategies are selected based on target market characteristics, product attributes, and the other organizations objectives and resources.)

answer

Target Market

question

A strategy that assumes all customers in the target market have similar needs, and thus the organization can satisfy most customers with a single marketing mix with little or no variation. (this strategy works well with commodities and staple food items) To use this strategy, the company must have a "homogeneous market" (large population making up a market of similar needs), and the resources to develop a single marketing mix to meet the customers needs.

answer

Undifferentiated targeting strategy

question

market comprised of individuals or organizations with diverse product needs. ex: The automobile market (some might need a truck to haul things, others might need a fuel efficient sedan for the city.)

answer

heterogeneous market

question

the process of dividing a total market into groups, or segments, that consist of people of organizations with relatively similar product needs -allows marketers to design a marketing mix that more precisely matches the needs of its customers. -best used for heterogeneous markets.

answer

Market Segmentation

question

consists of individuals, groups, o organizations that share one or more similar characteristics that cause them to have relatively similar product needs -some may be unreachable due to legal, social, or distribustion constraints. ex: the jeans market has many market segments.

answer

Market Segment

question

-First, customers needs must be heterogeneous. -Second, segments must be identifiable and divisible -Third, sales potential, costs, and profits must all be comparable between the various segments -Fourth, the profit potential of a segment must be justifiable to maintain the marketing mix. -Fifth, the company must be able to reach the segment with a particular marketing mix.

answer

5 conditions for Market Segmentation to be successful:

question

when an organization directs its marketing efforts toward a single market segment using one marketing mix. -allows a company to specialize. -can be hazardous if the specialized market segment gets smaller or has changing needs.

answer

Concentrated Targeting Strategy

question

when an organizations directs its marketing efforts at two or more segments by developing a marketing mix for each segment. -benefit is that company can increase sales., however, with more variety comes more production costs. ex: Enterprise Rent-A-Car is thinking about expanding to a new segment of renting out motorcycles.

answer

Differentiated Targeting Strategy

question

the characteristics of individuals, groups, or organizations used to divide a market into segments. -relates to a customers needs for, uses of, or behavior toward the product. -Variables grouped by: Demographic, Geographic, Psychographic, and Behavioristic ex: location, age, gender, rate of product usage.

answer

Segmentation Variables

question

Marketers commonly use age, gender, race, ethnicity, income, education, occupation, family size, family life cycle, religion, and social class. (as Baby Boomers age, the average U.S. population age is rising.) (women account for 85% of consumer purchases) (2 millions weddings performed each year, avg cost being $31,213) (26.7% of americans live alone)

answer

Demographic Variables

question

Include terrain, climate, city size, populations density, and urban/rural areas (Metropolitan Statistical Area,"MSA", urbanized area encircled by nonmetropolitn counties. / Primary Metropolitan Statistical Area,"PMSA", metropolitan area with atleast 1 million / Consolidated Metropolitan Statistical Area,"CMSA", metropolitan area with atleast 1 mil and has 2 or more PMSA's) (the 5 largest CMSA's are 20% of U.S. pop.)

answer

Geographic Variables

question

the number of potential customers within a unit of land area, such as a square mile. (different from population density)

answer

Market Density

question

clusters people by zipcodes or neighborhood units based on lifestyle and demographic information. -can be effective bc some people choose to live by people of similar lifestyles. (Nielsen's PRIZM, provides this type of info)

answer

Geodemographic segmentation

question

involves focusing precise marketing efforts on very small geographic markets, such as community and even individual neighborhoods.

answer

Micromarketing

question

Include personality characteristics, motives, and lifestyle. -marketers typically focus on positive personality traits -motives refer to the reasons a purchase was made ex: Zzzquil focuses on the customers motivation to get a good nights rest. -PRIZM can also be used to segment by lifestyle.

answer

Psychographic Variables

question

Involves an aspect of product use, such as heavy, moderate, light, and nonusers.

answer

Behavioristic Variables

question

is the division of a market according to benefits that consumers want from a product. -benefits a consumer seeks are their product needs. Effective if: 1. benefits sought are identifiable 2. benefits desired must be used to create different segments 3. one or more of the segments must be accessible to firms marketing efforts.

answer

Benefit Segmentation

question

Geographic location Type of organization Customer size Product use

answer

Segment variables for business markets

question

describes the similarities among potential customers within a segment and explains the differences among people and organizations in different segments -compares the various variables -helps assess the degree of benefit -helps assess business capabilities -helps assess best fit of a segment for a business

answer

Market Segment Profile

question

can be measured by product level(a single product or line of products), geographic level, time(short(5)), and level of competition(whether sales are being estimated for a single firm or an industry.)

answer

Sales Estimates

question

total amount of a product that customers will purchase within a specified period at a specific level of industry-wide marketing activity. (stated in dollars or units) -assessed by economic, sociocultural, and other environmental factors.

answer

Market Potential

question

the maximum percentage share of a market that an individual firm within an industry can expect to capture for a specific product. -a firm cannot exceed market potential -marketing activities impact firms sales potential.

answer

Company Sales Potential

question

An approach that measures company sales potential by developing a general economic forecast for a specific time period then estimating the market and company potential from that forecast.

answer

breakdown approach

question

An approach that measures company sales potential by estimating how much of a product a potential buyer in a specific geographic area will purchase in a given period and then multiplying that by the amount of potential buyers in that given area and then adding up totals from all considered areas.

answer

buildup approach

question

A market segment that seems attractive needs to undergo a competitive assessment to determine if its competitors dominate the area. If so, how well are the competitors doing their job? and can your business be competitive in that market regardless? ex: Cholula hot sauce advertises why its hot sauce hasthe competitive advantage.

answer

Competitive assessment

question

Cost estimates must be considered when trying to reach a market segment. If costs are too high, that market segment might be inaccessible.

answer

Cost Estimates

question

the amount of a product the company expects to sell during a specific period at a specific level of marketing activity. -differs from sales potential in the fact that if focuses on expected sales based on a LEVEL OF MARKETING EFFORT. (used for planning, organizing, implementing, and controlling activities.) -overambitious forecasts can lead to overbuying, overinvestng, and higher costs.

answer

Sales Forecast

question

A sales forecasting method based on the intuition of one or more executives.

answer

Executive judgement

question

marketers ask customers what types and quantities of products they intend to buy during a specific period. ex. Lockheed Martin could use this since it has a small customer base, but PepsiCo could not possibly use this.

answer

customer forecasting survey

question

firms sales people estimate anticipated sales in their territories for a specified period, then estimates are combined for a total.

answer

sales force forecasting survey

question

hired professionals that conduct forecasting survey. -consist of economists, management consultants, advertising executives, college professors, or other individuals outside the firm.

answer

expert forecasting survey

question

A more complex form of the expert forecasting survey where experts create initial forecasts, submit them to the company for averaging, and have the results returned to them so they can make individual refined forecasts. (becomes highly reliable)

answer

Delphi technique

question

forecasting sales method that uses historical sales data to discover a pattern or patterns in sales over time. -assumes past sales patterns will continue into the future. Has 4 types of analyses: 1)Trend Analysis- focuses on aggregate sales data, such as the company's annual sales figures to determine if sales are rising, falling, or staying about the same. 2)Cycle Analysis- analyzes (often monthly) sales figures for 3-5 yr period to determine if sales fluctuate consistently and periodically. 3)Seasonal Analysis- evaluates the degree to which seasonal factors such as climate and holiday activities effect sales. 4)Random Fact Analysis- attempts to attribute erratic sales variations to random, nonrecurring events.

answer

time series analysis

question

forecaster seeks to find a relationship between past sales and one or more independent variable such as population or per capita income.

answer

regression analysis

question

involves making a product available to buyers in one or more test area and measuring purchases and consumer responses to the product, distribution, promotion, and price. ex: Mcdonalds is using a market test for Monster energy drinks at select stores.

answer

Market test

question

A group of individuals or organizations that all have a desire, ability, willingness, and authority to buy a particular product or products. You must possess all four above characteristics to truly be apart of the market. ex: teens are not in the market for alcohol bc they do not have the authority to consume it.

answer

Market

question

the decision processes and actions of people involved in buying and using products

answer

Buying behavior

question

Consumers purchasing behavior refers to those purchasing products for household use, not _________ __________.

answer

Business purposes

question

Marketers attempt to understand buying behaviors for several reasons:

answer

1. customers overall opinion about firm 2. to create a marketing mix that meets customers needs 3. understand factors that affect buying behaviors to predict future behaviors

question

This stage of Consumer buying decision process occurs when a buyer becomes aware of a need they were unaware of before. (realizes theres a problem) ( gloves that heat up )

answer

Problem Recognition

question

This stage of Consumer buying decision process, the consumer decides whether to and where to satisfy need. occurs after consumer recognizes need.

answer

Information search

question

In the information search stage of the CBD process, the consumer will go through two types of searches. What are they/explain each?

answer

1. internal search- uses memories fo info on products 2. external search - look to outside sources for where to satisfy need

question

Consumers usually begin there information search on a _______ ________.

answer

Mobile device

question

This stage of Consumer buying decision process occurs after the information search has produced a group of alternatives. during this stage the alternatives will be evaluated.

answer

Evaluation of alternatives

question

the list of alternatives evaluated during the "evaluation of alternatives stage of the CBD process is called?

answer

consideration set

question

To assess the products in the consideration set, buyers use ________________ _____________.

answer

Evauluation Criteria

question

evaluative criteria includes 2 characteristic types:

answer

Objective characteristics ( size, speed, capacity ) and subjective characteristics (color, style)

question

if the eval alternatives. yields one or more brands that the consumer is willing to buy then he or she is ready to .....?

answer

move into the next stage . the purchase stage

question

During this stage of Consumer buying decision process Consumer pick seller they will buy from and also settle other issues (price, delivery, warranties maintenance agreements, etc.)

answer

Purchase stage

question

During this stage of Consumer buying decision process, the consumer evaluates the product to see if it meets expectations.

answer

Post purchase evaluation

question

Perceived value of a purchase has a weaker repurchase effect for__________ than ________.

answer

women than men

question

the effort of having to go and exchange the item at the store has a larger impact on _____________ than _____________.

answer

Men than women

question

the post purchase stage is especially important for ___________________ items.

answer

High Priced items

question

The doubt in a customers mind of whether buying a really expensive object was the right decison is called?

answer

Cognitive Dissonance

question

3 major categories of influences affect the consumer buying decision process:

answer

Situational Psychological social

question

what are the 5 stages of the consumer buying decision process?

answer

1. problem recognition 2. informationa search 3. evaluation of alternatives 4. purchase 5. post purchase eval.

question

To find out what satisfies consumers, marketers must examine the main influences on _______, __________, ___________, ________ they buy.

answer

what when where and how

question

The amount of effort both mental and physalis l that buyers expend in solving problems also varies considerably with the ___________ and __________ of products.

answer

Cost and type of product

question

3 types of consumer decision making:

answer

1. routinized response behavior, 2.limited decision making 3. extended decision making

question

_________ __________ __________ is used when buying frequently purchased, low cost items that require very little search and decision effort. (batteries--> dont care about the brand )

answer

Routinized response behavior

question

changes in a persons thought processes and behavior caused by information and experience. -influenced by the consequences of behavior -business' try to shape consumer behavior by encouraging product trial and reducing purchase risk.

answer

Learning

question

an individuals enduring evaluation of feelings about and behavioral tendencies toward an object or idea -consists of three major components: 1:cognitive- the persons knowledge and information about the object or idea 2:affective- comprises the individuals feelings and emotions toward the object or idea 3:behavioral- component that manifests itself through the persons actions regarding the object or idea.

answer

Attitude

question

used to understand, and possibly predict, a consumers attitude. -consists of: 1)beliefs about product attributes 2)the strength of beliefs 3)the evaluation of beliefs *These 3 form the overall attitude toward the object.

answer

Fishbein model (AKA) the attitude toward the object model

question

focuses on intentions to act or purchase. -focuses on buying behavior and how the influence of other(peers) effects decisions. -can gauge customer attitudes through consumer surveys

answer

Theory of Reasoned Action (AKA) the behavior intentions model

question

consists of a series of adjectives, phrases, or sentences about an object. Respondents are asked to share how they feel about various statements that should indicate their attitude towards something.

answer

attitude scale

question

a set of internal traits and distinct behavioral tendencies that result in consistent patterns of behavior in certain situations -combo of hereditary charateristics and personal experiences.

answer

personality

question

is one's perception or view of oneself. -this changes based on an interaction between psychological and social dimensions ex: companys like patagonia will try to relate to consumers self-concept by marketing themselves as what they think their consumers identify as. For Patagonia, they appeal to "outdoor enthusiasts"

answer

self-concept (AKA) self-image

question

is an individuals pattern of living expressed through activities, interests, and opinions.

answer

lifestyle

question

Its a product developed by a company called Claritas, but later acquired by a company called Nielsen (one of the leading research companies in the world). This program provides a lot of information about consumers, market segments, and basically any information you would need to know about the different characteristics and variables that make up those individuals.

answer

PRIZM (make sure you know this Morgan)

question

forces that other people exert on buying behavior -include roles, family, reference groups/opinion leaders, social classes, and culture/subcultures

answer

social influences

question

sets of actions and activities a person in a particular position is supposed to perform based on the expectations of both the individual and surrounding people. -influences general behavior and buying behavior ex: a man may play the role of father, son, brother, husband, etc.

answer

roles

question

is the process through which a person acquires the knowledge and skills to function as a consumer - these skills and knowledge typically comes from parents and family

answer

Consumer socialization

question

a group, either large or small, with which a person identifies so strongly that he or she adopts the values, attitudes, and behavior of group members. - can be family, work related groups, frats or srats, civic clubs, professional orgs, or church related groups -serves as individuals point of comparison and source of info. reference group ability to influence depends on how effective message is communicated, type of product, and susceptibility to reference group influence. 3 types: - membership- group where individual actually belongs - aspirational- group that individual aspires to belong to(this is why company's choose celebs to advertise product) - disassociative- a group an individual does not want to be a part of

answer

reference group

question

is a member of an informal group who provides information about a specific topic to other group members seeking information. -an individual of position who has knowledge/expertise that makes them credible. -opinion leaders aren't the most knowledgeable, but because they know other look to them for certain info, they feel the need to stay updated and most informed about a particular subject. ex: pastor, "movie buff" friend, family doctor, "techie" acquaintance.

answer

opinion leader

question

is an open aggregate of people with similar social rank. -ranked through a process called social stratification -referred to as open because people can move in and out of the class -in the u.s., factors include occupation, education, income, wealth, race, ethnic group, and possessions. -influences spending, saving, and credit practices. ex: upper-upper, lower-upper, upper middle, middle class, working class, upper-lower, lower-lower. -Kellogg Company acquired Mass Food Group in Egypt to gain hold in a desirable market because the middle class is growing in other countries like India, China, and Brazil.

answer

social class

question

when members of lower classes try to emulate upper class members by buying the things they buy or naming children after them. -blue jeans were in a sense, reverse trickle down, in that they used to be only for the working class, but after teens of the 50's started wearing them as a sign of rebellion, it started becoming popular across all social classes.

answer

"trickle-down" effect

question

is the accumulation of values, knowledge, beliefs, customs, objects, and concepts that a society uses to cope with its environment and passes on to future generations. -effects nearly all aspects of life

answer

Culture

question

is a group of individuals whose characteristics, values, and behavioral patterns are similar within the group and different from those of people in the surrounding culture. -usually based on age, religion, race, and ethnicity -include punk, rocker, gamer, biker, cowboy, business professional. -by 2050, 1/2 of the US pop will be ethnic/racial minorities. (Black, Hispanic, and Asian are the fastest subcultures on the rise.)

answer

subculture

question

behavior that violates generally accepted norms of a particular society. -include shoplifting or purchase of illegal drugs

answer

consumer misbehavior

question

When buyers buy products occasionally or from unfamiliar brands in a familiar product category they are engaging in what ?

answer

Limited Decision Making

question

The most complex type of decision making is called?

answer

Extended decision making

question

A decision making that occurs with high involvement, unfamiliar, expensive or infrequently purchased items.

answer

extended Decision making

question

Most consumers make purchases solely on _______________.

answer

impulse

question

Involves no concious planning and stems from a powerful urge to buy something immediately

answer

Impulse Buying

question

retailers set up things around the cash register to encourage ______________ ___________.

answer

Impulse buying

question

a major factor in the type of decision making process that will be used depends on the customers ______________ _____ ___________.

answer

Level of involvement

question

an involvement that is temporary and dynamic and results from a particular set of circumstances (needing to buy a new laptop cause a papers due)

answer

situational involvement

question

What has the most effect on the level of involvement from the consumer.

answer

Perceived risk of purchase

question

results from circumstances, time, and location that affect the consumer buying decision process.

answer

Situational Influences

question

_________________ factors can be classified into these five categories: -physical surroundings, - social surroundings, -time perspectives, -reason for purchase -the buyers momentary mood and condition

answer

Situational factors

question

descriptions for each of the following: -physical surroundings, - social surroundings, -time perspectives, -reason for purchase -the buyers momentary mood and condition

answer

-physical surroundings- stores, atmosphere, smells weather - social surroundings- interactions of others who are present during a purchase decision -time perspectives-varying amount of time to progress through decision process -reason for purchase-what product purchase should accomplish and for whom -the buyers momentary mood and condition

question

_______________ ____________ influences on consumer behavior are: -perception, -motives, -learning, - attitudes, - personality and self concept. -lifestyle

answer

Primary Psychological influences

question

the process of selecting, organizing, and interpreting information inputs to produce meaning

answer

Perception

question

_____________ __________ are sensations received through sight, taste, hearing, smell and touch

answer

Information Input

question

the first step in the perceptual process is.;..?

answer

Selection

question

Only paying attention to select things and letting them reach awareness.

answer

Selective Exposure

question

changing or twisting received information. changing meaning/interpreting to align more closely with expectations

answer

Selective Distortion

question

person remembers stuff that supports their feelings and beliefs and for gets inputs that do not.

answer

Selective retention

question

a portion of the information reaches awareness and stands out as the figure and others become the background

answer

Figure - ground

question

A ________________ is an internal energizing force that directs a persons activities toward satisfying needs or achieving goals.

answer

Motive

question

___________ are affected by a SET of motives

answer

Buyers

question

Onlines shoppers are divided by two different consumer motivations?

answer

Utilitarian and hedonic consumers

question

__________________ consumers shop online bc its fast and useful

answer

Utilitarian consumer

question

___________ consumers shop online bc its fun and enjoyable to find bargains

answer

Hedonic consumers

question

Maslows Hierarchy of Needs pyramid consists of what 5 levels?

answer

Physiological needs safety needs social needs esteem needs self actualization needs

question

the basic level of Maslows pyramid; need food shelter sex clothing

answer

Physiological needs

question

second level of maslows pyramid; need security and freedom from physical and emotional pain

answer

safety need

question

third level of maslow pyramid; need for love and affection

answer

social needs

question

fourth level of mallows pyramid; need respect and recognition from others

answer

esteem Needs

question

fifth and top level of mallows pyramid; need to grow and develop and to the best they can be

answer

Self actualization

question

places a customer goes to frequently bc of prices, service, location

answer

Patronage motives

Marketing 321- chapters 3,6,7 – Flashcards

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