mkt exam 2

Need recognition

The first stage in the buyer behavior process where a consumer recognizes they have a need for a product.

Information Search

The stage where the consumer actively searches for information about the product.

Evaluation of Alternatives

The stage where the consumer considers different options and weighs the pros and cons of each.

Purchase

The stage where the consumer decides to buy the product.

Consumption

The use of a good or service to fulfill a need.

Esteem needs

A category of needs in Maslow's hierarchy, under which luxury cars like Audi and BMW fall.

External Cue

A trigger from the environment signaling a need.

Top of mind awareness

Brands that readily come to a consumer's mind when considering a product.

Consideration set

The group of brands or products that a consumer remembers when making a purchasing decision.

Search Engine Optimization (SEO)

Techniques used to increase the visibility of a website in search engine results.

Product attributes

The characteristics that identify and differentiate products.

Core benefit

The fundamental need that a product fulfills.

Specialty products

Products with unique attributes that justify a premium price.

Unsought products

Products that consumers are not actively aware of until prompted by an external cue.

Durable goods

Products that last a long time.

Impulse product

Products that are purchased with little forethought.

High learning product

A product that takes longer for consumers to learn to use.

Unboxing experience

The experience when a consumer opens a product for the first time, which can create a positive emotional response.

Intangibility in services

The challenge of marketing a service that cannot be physically touched or owned.

Perishability in services

The characteristic of services that cannot be stored and must be delivered at the time of consumption.

Variability in services

The potential differences in service delivery that can lead to differing customer experiences.