Marketing – Ch. 5 vocab

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Consumer behavior
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the actions a person takes in purchasing and using products and services, including the mental and social processes that come before and after these actions
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Purchase decision process
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the stages a buyer passes through in making choices about which products and services to buy (5 stages)
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problem recognition (Purchase decision process)
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perceiving a need
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information search (Purchase decision process)
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seeking value; b. You may scan your memory for previous experiences with products or brands. This action is called internal search. For frequently purchased products such as shampoo and conditioner, this may be enough. In other cases, a consumer may undertake an external search for information. This is needed when past experience or knowledge is insufficient, the risk of making a wrong purchase decision is high, and the cost of gathering info is low.
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alternative evaluation (purchase decision process)
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assessing value; clarifies the problem for the consumer by (1) suggesting criteria to use for the purchase, (2) yielding brand names that might meet the criteria, and (3) developing consumer value perceptions
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evaluative criteria (from alternative evaluation)
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represent both the objective attributes of a brand (such as display) and the subjective ones (such as prestige) you use to compare different products and brands
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consideration set (from alternative evaluation)
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the group of brands a consumer would consider acceptable from among all the brands in the product class of which he or she is aware
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purchase decision (purchase decision process)
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buying value; having examined the alternatives in the consideration set, you are almost ready to make a purchase decision. Two choices remain: (1) from whom to buy and (2) when to buy
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post-purchase behavior (purchase decision process)
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realizing value; after buying a product, the consumer compares it with his or her expectations and is either satisfied or dissatisfied.
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cognitive dissonance (from post-purchase behavior)
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feeling of post-purchase psychological tension or anxiety
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involvement
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the personal, social, and economic significance of the purchase to the consumer
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5 situational influences have an impact on the purchase decision process
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1.) the purchase task 2.) social surroundings 3.) physical surroundings 4.) temporal effects 5.) antecedent states
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motivation
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the energizing force that stimulates behavior to satisfy a need. Because consumer needs are the focus of the marketing concept, marketers try to arouse these needs.
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self-actualization needs
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self-fulfillement
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personal needs
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status, respect, prestige
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social needs
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friendship, belonging, love
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safety needs
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freedom from harm, financial security
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physiological needs
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food, water, shelter, oxygen
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personality
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refers to a person’s consistent behaviors or responses to recurring situations
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key traits
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enduring characteristics within a person or in his or her relationships with others
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perception
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the process by which an individual selects, organizes, and interprets information to create a meaningful picture of the world
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selective perception
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a filtering of exposure, comprehension, and retention
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selective exposure
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occurs when people pay attention to messages that are consistent with their attitudes and beliefs and ignore messages that are inconsistent with them
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selective comprehension
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involves interpreting information so that it is consistent with your attitudes and beliefs
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subliminal perception
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you see or hear messages without being aware of them
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perceived risk
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represents the anxiety felt because the consumer cannot anticipate the outcomes of a purchase but believes there may be negative consequences
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learning
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refers to those behaviors that result from (1) repeated experience and (2) reasoning
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behavioral learning
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the process of developing automatic responses to a situation built up through repeated exposure to it. Four variables are central to how consumers learn from repeated experience: drive, cue, response, and reinforcement
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cognitive learning
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consumers also learn through thinking, reasoning, and mental problem solving without direct experience. This type of learning, called cognitive learning, involves making connections between two or more ideas or simply observing the outcomes of others’ behaviors and adjusting your own accordingly.
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brand loyalty
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there is a close link between habits and brand loyalty, which is a favorable attitude toward and consistent purchase of a single brand over time. Brand loyalty results from the positive reinforcement of previous actions.
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attitude
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a learned predisposition to respond to an object or class of objects in a consistently favorable or unfavorable way
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beliefs
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a consumer’s subjective perception of how a product or brand performs on different attributes
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lifestyle
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a mode of living that is identified by how people spent their time and resources, what they consider important in their environment, and what they think of themselves and the world around them
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psychographics
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the analysis of consumer lifestyles
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opinion leaders
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individuals who exert direct or indirect social influence over others; considered to be knowledgeable about or users of particular products and services, so their opinions influence others’ choices
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word of mouth
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the influencing of people during conversations. Word of mouth is the most powerful and authentic information source for consumers because it typically involves friends viewed as trustworthy. About 75% of all consumer conversations about brands happen face-to-face, 15% happen over the phone, and 10% happen online
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reference groups
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people to whom an individual looks as a basis for self-appraisal or as a source of personal standards. Reference groups affect consumer purchases because they influence the information, attitudes, and aspiration levels that help set a consumer’s standards
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brand comunity
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a specialized group of consumers with a structural set of relationships involving a particular brand, fellow customers of that brand, and the product in use
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consumer socialization
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the process by which people acquire the skills, knowledge, and attitudes necessary to function as consumers
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family life cycle
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describes the distinct phases that a family progresses through from formation to retirement, each phase bringing with it identifiable purchasing behaviors
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social class
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the relatively permanent, homogeneous divisions in a society into which people sharing similar values, interests, and behavior can be grouped

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