Marketing Chapter 6, 8, 10, 11, 12 – Flashcards

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Processes a consumer uses to make purchase decisions, as well as to use and dispose of purchased goods or services; also includes factors that influence purchase decisions and product use.
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Consumer behavior
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A five-step process used by consumers when buying goods or services: need recognition, information search, evaluation of alternatives, purchase, and post-purchase behavior.
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Consumer decision-making process
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Result of an imbalance between actual and desired states.
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Need recognition
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Recognition of an unfulfilled need and a product that will satisfy it.
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Want
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Any unit of input affecting one or more of the five senses: sight, smell, taste, touch, hearing.
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Stimulus
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Occurrences you exprience such as hunger or thirst.
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Internal stimuli
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Influences from an ouside source such as the color of a car, design of a package, or an advertisement on TV.
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External stimuli
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Marketing managers can create ____ on the part of the consumer.
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wants
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The process of recalling past information stored in the memory.
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Internal information search
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The process of seeking information in the outside environment.
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External information search
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A product information source that is not associated with advertising or promotion. (personal experience, public sources)
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Nonmarketing-controlled information source
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A product information source that originates with marketers promoting the product.(radio, TV, magazine)
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marketing-controlled information source
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Generally, as the perceived ____ of the purchase increases, the consumer enlarges the search and considers more alternative brands.
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risk
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A group of brands, resulting from an information search, from which a buyer can choose.
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Evoked set (consideration set)
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Recent research has shown that exposure to certain _____ in your everyday environment can effect decision criteria and purchase.
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cues
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Either minimum or maximum levels of an attribute that an alternative must pass to be considered.
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cutoffs
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When consumers rely on a ____ process, a product's evaluation depends on the particular catagory to which it is perceived as belonging.
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catagorization
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When a well-known and respected brand name from one product category is extended into other product categories.
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Brand extensions
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When a person is buying an expensive or complex item, it is often a ___ ___ ___ based upon a lot of information.
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fully planned purchase
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Often consumers will make a _____ _____ ____ where they know the product category they want to buy but wait until they get to the store to choose a specific style or brand.
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partially planned purchase
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People buy on impulse when making an ____ ____.
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unplanned purchase
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Inner tension that a consumer experiences after recognizing an inconsistency between behavior and values or opinions.
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Cognitive dissonance
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Marketing managers can help reduce dissonance through effective ______ with purchasers.
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communication
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The amount of time and effort a buyer invests in the search, evaluation, and decision processes of consumer behavior.
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Involvement
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The type of decision making exhibited by consumers buying frequently purchased, low-cost goods and services; requires little search and decision time. (lowest level of involvement)
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routine response behavior
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The type of decision making that requires a moderate amount of time for gathering information and deliberating about an uifamiliar brand in a familiar catagory.(low level of involvment)
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limited decision making
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The most complex type of consumer decision making, used when buying an unfamiliar, expensive product or an infrequently bought item; requires use of several criteria for evaluating options and much time for seeking information. (high involvment)
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extensive decision making
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The level of involvment in the purchase depends on five factors: previous ____, _____, perceived ____ of negative consequences, ____, and ____ visibility.
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experience, interest, risk, situation, social
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In-store promotion is an important tool when promoting ____ _____ _____.
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low-involvement products
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The set of values, norms, attitudes, and other meaningful symbols that shape human behavior and the artifacts, or products, of that behavior as they are transmitted from one generation to the next.
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culture
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The enduring belief that a specific mode of conduct os personally or socially preferable to another mode of conduct.
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value
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Consumers with similar ____ ____ tend to react alike to prices and other marketing-related inducements.
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value systems
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A homogeneous group of people who share elements of the overall culture as well as unique elements of their own group.
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subculture
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A group of people in a society who are considered nearly equal in status or community esteem, who regulargly socialize amoung themselves both formally and informally, and who share behavioral norms.
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social class
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Social class often indicates which ____ to use for advertising.
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medium
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A group in society that influences an individual's purchasing behavior.
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reference group
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A reference group with which people interact regularly in an informal, face-to-face manner, such as family, friends, and coworkers.(direct)
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primary membership group
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A reference group with which people associate less consistently and more formally than a primary membership group, such as a club, professional group, or religious group.(direct)
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secondary membership group
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A group that someone would like to join. (indirect)
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aspirational
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Values and attitudes deemed acceptable by the group.
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norms
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A group with which an individual does not want to associate.
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nonaspirational reference group
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An individual who influences the opinions of others. (first to try new products)
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opinion leader
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Marketers are looking to ____ ____ to find opinion leaders.
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web blogs
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How cultural values and norms are passed down to children.
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socialization process
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Plant the seed for the purchasing process
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Initiators
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Members of the family whose opinions are valued.
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Influencers
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While teens make up __ percen of the US population, they actually contribute to ___ percent of the US spending.
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7, 11
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Traditionally, children learn about consumption from their parents. In today's technologically overloaded world, that trend is ____.
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reversing
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An orderly series of stages through which consumers' attitudes and behavioral tendencies evolve through maturity, experience, and changing income and status.
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family life cycle
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A way of organizing an grouping the consistencies of an individual's reactions to situations. (combines psychological makeup and environmental forces)
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personality
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How consumers perceive themselves in terms of attitudes, perceptions, beliefs, and self-evaluations.
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self-concept (self-perception)
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The way an individual would like to be,.
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ideal self-image
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The way an individual actually perceives himself or herself.
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real self-image
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Combines ideal self-image and the real self image.
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Self concept
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The process by which people select, organize, and interpret stimuli into a meaningful and coherent picture.
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perception
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The process whereby a consumer notices certain stimuli and ignores others.
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selective exposure
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A process whereby a consumer changes or distorts information that conflicts with his or her feelings or beliefs.
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selective distortion
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A process whereby a consumer remembers only that information that supports personal beliefs.
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selective retention
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The minimum difference in a stimulus that the consumer will notice. ("just-noticeable difference")
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threshold level of perception
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A driving force that causes a person to take action to satisfy specific needs.
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motive
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One study found that the just-noticeable difference ina stimulus is about a ___ percent change.
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20
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A method of classifying human needs and motivations into five categories in ascending order of importance: physiological, safety, social, esteem, and self-actualization.
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Maslow's hierarchy of needs
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Marketing managers probably appeal more to this need than to any other.
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social needs
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A process that creates changes in behavior immediate or expected through experience and practice.
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learning
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_____ learning occurs when an experience changes your behavior.
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Experiencial
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_____learning not acquired through direct experience.
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Conceptual
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Without positive or negative ______, a person will not be motivated to repeat the behavior pattern or to avoid it.
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reinforcement
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Generally, to heighten learning, advertising messages should be ___ ___ ___ ____ rather than clustered together.
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spread out over time
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A form of learning that occurs when one response is extended to a second stimulus similar to the first.
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stimulus generalization
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A learned ability to differentiate amond similar products.
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stimulus discrimination
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An organized pattern of knowledge that an individual holds as tru about his or her world.
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belief
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A learned tendency to resond consistently toward a given object.
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attitude
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People or organizations with needs or wants and the ability and willingness to buy.
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market
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A subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs.
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market segment
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The process of dividing a market into meaningful, relatively similar, and identifiable segments or groups.
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market segmentation
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To be useful, a segmentation scheme must produce segments that meet four basic criteria: ____, identifiability and ____, accessibility, and ____.
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substantiality, measurability, responsiveness
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Characteristics of individuals, groups, or organizations.
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segmentation bases (variables)
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Segmenting markets by region of a country or the world, market size, market density, or climate.
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geographic segmentation
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The current trend is toward using ____ rather than ____ variables to segment most markets.
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more, fewer
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______ segmentation is clearly more precise than single-variable segmentation.
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Multi-variable
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Segmenting markets by age, gender, income, ethnic background, and family life cycle.(widely available)
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demographic segmentation
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Starbucks developed a market for expensive coffee to appeal to this age group.(experience, not just product)
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Gen X
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Some common bases of demographic segmentation are ___, ___, ___, ___, and family ____.
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age, gender, income, ethnic, life-cycle
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A series of stages determined by a combination of age, marital status, and the presence or absence of children.
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family life cycle (FLC)
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Market segmentation on the basis of personality, motives, lifestyles, and geodemographics.
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psychographic segmentation
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Segmenting potential customers into neighborhood lifestyle categories.
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geodemographic segmentation
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The process of grouping customers into market segments according to the benefits they seek from the product.
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benefit segmentation
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Dividing a market by the amount of product bought or consumed.
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usage-rate segmentation
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A principle holding that 20 percent of all customers generate 80 percent of the demand. (frequent flyer programs)
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80/20 principle
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The business market consists of four broad segments: ____, resellers, ____, and institutions.
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producers, government
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Business customers who place an order with the first familiar supplier to satisfy product and delivery requirements.
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satisficers
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Business customers who consider numberious suppliers, both familiar and unfamiliar, solicit bids, and study all proposals carefully before selecting one.
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optimizers
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The purpose of market segmentation, in both consumer and business markets, is to identify marketing opportunities.
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marketing opportunities
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A group of people or organizations for which an organization designs, implemetns, and maintains a marketing mix intended to meet the needs of that group, resulting in mutually satisfying exchanges.
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target market
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A marketing approach that views the market as one big market with no individual segments and thus uses a single marketing approach.
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undifferentiated targeting strategy
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A strategy used to select one segment of a market for targeting marketing efforts.
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concentrated targeting strategy
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One segment of a market.
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niche
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A strategy that chooses two or more well-defined market segments and develops a distinct marketing mix for each.
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multisegment targeting strategy
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A situation that occurs when sales of a new product cut into sales of a firm's existing products.
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cannibalization
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An individualized marketing method that utilizes customer information to build long-term, personalized, and profitable relationships with each customer.
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one-to-one marketing
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Developing a specific marketing mix to influence potential customers' overall perception of a brand, product line, or organization in general.
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positioning
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Four trends will lead to the continuing growth of one-to-one marketing: ___, ____, ____, and ____.
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personalization, time saving, loyalty, technology
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The place a product, brand, or group of porducts occupies in consumers' minds relative to competing offerings.
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position
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A positioning strategy that some firms use to distinguish their products from those of competitiors.
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product differentiation
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A means of displaying or graphing, in two or more dimensions, the location of products, brands, or groups of products in customer's minds.
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perceptual mapping
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Changing consumers' perceptions of a brand in relation to competing brands.
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repositioning
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everything, both favorable and unfavorable, that a person receives in an exchange
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product
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a product used to manufacture other goods or services, to facilitate an organization's operations, or to resell to other customers
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business product
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a product bought to satisfy an individual's personal wants
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consumer product
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A relatively inexpensive item that merits little shopping effort
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convenience product
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a product that requires comparison shopping because it is usually more expensive than a convenience product and is found in fewer stores
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shopping product
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a particular item that consumers search extensively for and are very reluctant to accept substitutes
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speciality product
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A product unknown to the potential buyer or a known product that the buyer does not actively seek
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unsought product
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a specific version of a product that can be designated as a distinct offering among an organization's products
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product item
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a group of closely related product items
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product line
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all products that an organization sells
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product mix
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the number of product lines an organization offers
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product mix width
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the number of product items in a product line
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product line depth
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changing one or more of a product's characteristics
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product modification
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the practice of modifying products so those that have already been sold become obsolete before they actually need replacement
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planned obsolescence
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adding additional products to an existing product line in order to compete more broadly in the industry
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product line extension
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a name, term, symbol, design, or combination thereof that identifies a seller's products and differentiates them from competitors' products
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brand
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That part of a brand that can be spoken, including letters, words, and numbers
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brand name
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The elements of a brand that cannot be spoken
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brand mark
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The value of company and brand names
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brand equity
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a brand that obtains at least a third of its earnings from outside its home country, is recognizable outside its home base of customers, and has publicly available marketing and financial data
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global brand
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a consistent preference for one brand over all others
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brand loyalty
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the brand name of a manufacturer
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manufacturers brand
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a brand name owned by a wholesaler or a retailer
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private brand
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a brand manufactured by a third party for an exclusive retailer, without evidence of that retailer's affiliation
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captive brand
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using different brand names for different products
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individual branding
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marketing several different products under the same brand name
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family branding
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placing two or more brand names on a product or its package
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co-branding
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the exclusive right to use a brand or part of a brand
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trademark
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a trademark for a service
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service mark
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identifies a product by class or type and cannot be trademarked
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generic product name
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a type of package labeling that focuses on a promotional theme or logo, and consumer information is secondary
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persuasive labeling
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a type of package labeling designed to help consumers make proper product selections and lower their cognitive dissonance after the purchase
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informational labeling
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a series of thick and thin vertical lines (bar codes), readable by computerized optical scanners, that represent numbers used to track products
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universal product codes
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a confirmation of the quality or performance of a good or service
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warranty
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a written guarantee
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express warranty
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an unwritten guarantee that the good or service is fit for the purpose for which it was sold
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implied warranty
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a product new to the world, the market, the producer, the seller, or some combination of these
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new product
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a plan that links the new-product development process with the objectives of the marketing department, the business unit, and the corporation
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new-product strategy
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a marketing strategy that entails the creation of marketable new products; the process of converting applications for new technologies into marketable products
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product development
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the process of getting a group to think of unlimited ways to vary a product or solve a problem
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brainstorming
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the first filter in the product development process, which eliminates ideas that are inconsistent with the organization's new-product strategy or are obviously inappropriate for some other reason
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screening
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a test to evaluate a new-product idea, usually before any prototype has been created
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concept test
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the second stage of the screening process where preliminary figures for demand, cost, sales, and profitability are calculated
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business analysis
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the stage in the product development process in which a prototype is developed and a marketing strategy is outlined
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development
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a team-oriented approach to new-product development
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simultaneous product development
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the limited introduction of a product and a marketing program to determine the reactions of potential customers in a market situation
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test marketing
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the presentation of advertising and other promotional materials for several products, including a test product, to members of the product's target market
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simulated (laboratory) market testing
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the decision to market a product
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commercialization
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a product perceived as new by a potential adopter
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innovation
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the process by which the adoption of an innovation spreads
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diffusion
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a concept that provides a way to trace the stages of a product's acceptance, from its introduction (birth) to its decline (death)
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product life cycle (PLC)
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all brands that satisfy a particular type of need
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product category
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the full-scale launch of a new product into the marketplace
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introductory stage
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the second stage of the product life cycle when sales typically grow at an increasing rate, many competitors enter the market, large companies may start to acquire small pioneering firms, and profits are healthy
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growth stage
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a period during which sales increase at a decreasing rate
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maturity stage
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a long-run drop in sales
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decline stage
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The result of applying human or mechanical efforts to people or objects.
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service
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The inability of servies to be touched, seen, tasted, heard, or felt in the same manner that goods can be sensed.
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Intangibility
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A characteristic that can be easily assessed before purchase.
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Search quality
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A characteristic that can be assessed only after use.
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Experience quality
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A characteristic that consumers may have difficulty assessing even after purchase because they do not have the necessary knowledge or experience.
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Credence quality
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The inability of the production and consumption of a service to be separated; consumers must be present during the production.
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Inseperability
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The variability of the inputs and outputs of servies, which causes services to tend to be less standardized and uniform than goods.
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Heterogeneity
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The inability of services to be stored, warehoused, or inventoried.
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Perishability
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The ability to perform a service dependably, accurately, and consistently.
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Reliability
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The ability to provide prompt service.
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Respnsiveness
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The knowledge and courtesy of employees and their ability to convey trust.
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Assurance
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Caring, individualized attention to customers.
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Empathy
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The physical evidence of a service, including the physical facilities, tools, and equipment used to provide the service.
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Tangibles
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A model identifying five gaps that can cause problems in service delivery and influence customer evaluations of service quality.
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Gap Model
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The most basic benefit the consumer is buying.
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Core service
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A group of services that support or enhance the core service.
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Supplementary services
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A strategy that uses technology to deliver customized services on a mass basis.
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Mass customization
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Treating employees as customers and developing systems and benefits that satisfy their needs.
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Internal marketing
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An organization that exists to achieve some goal other than the usual business goals of profit, market share, or return on investment.
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Nonprofit organization
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The effort by non profit organizations to bring about mutually satisfying exchanges with target markets.
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Nonprofit organization marketing
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An announcement that promotes a program of a federal, state, or local government or of a nonprofit organization.
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Public service announcement (PSA)
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