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What is consumer behavior?
Actions and decision processes of individuals and households in discovering, evaluating, acquiring, consuming, and disposing of products.
What is a low-involvement purchase?
A routine buying decision.
What is a high-involvement purchase?
A complex buying decision made after extensive thought.
What is passive learning?
Learning in which little energy is devoted to thinking about or elaborating on information.
What is active learning?
Learning in which substantial energy is devoted to thinking about and elaborating on information.
What is motivation?
An internal force that directs behavior toward the fulfillment of needs.
What is approach-approach conflict?
Motivational conflict that occurs when a consumer desires two objectives but cannot have both.
What is avoidance-avoidance conflict?
Motivational conflict that occurs when consumers must choose between two undesirable alternatives.
What is approach-avoidance conflict?
Motivational conflict that occurs when a consumer desires an alternative that has positive and negative qualities.
What is perception?
The process of recognizing, selecting, organizing, and interpreting stimuli in order to make sense of the world around us.
What is selective attention?
When people pay attention to messages that are consistent with their attitudes and beliefs and ignore messages that are not.
What is selective comprehension?
The tendency to interpret products and messages according to current beliefs.
What is selective retention?
The tendency to remember messages that are consistent with one's attitudes and beliefs, and forget those that are not.
What is subliminal perception?
Seeing or hearing messages without being aware of them.
What is learning?
Any change in consumer behavior caused by experience.
What is problem recognition?
Becoming aware of an unfulfilled need or desire.
What is information search?
Thinking through a situation by recalling information stored in memory or obtaining it from external sources.
What is alternatives evaluation?
Using decision rules to determine the most satisfying product.
What is purchase decision?
The decision to buy and which product to buy.
Define purchase.
The financial commitment to acquire a product.
What is purchase evaluation?
Determining satisfaction or dissatisfaction with a buying choice.
Define classical conditioning.
Learning to respond to one stimulus as another.
What is generalization?
Making the same response to different stimuli.
What is discrimination?
Making different responses to different stimuli.
Define operant conditioning.
Using reinforcement or punishment to shape behavior.
What is an attitude?
A combination of thoughts, feelings, and intentions towards an object.
Define cognitive.
Knowledge about a product's attributes not influenced by emotion.
What is affective?
Emotional feeling of like or dislike.
Define behavioral.
Tendency to act positively or negatively.
What is information processing?
The process of acquiring, storing, and evaluating data for decision making.
Define encoding.
Converting information to knowledge.
What is memory?
The brain function that stores and recalls encoded information.
Define culture.
Learned values, beliefs, language, symbols, and behavior patterns shared by a society.
What are values?
Shared norms about what is right and desirable.
Define subculture.
A subset of people with shared values within a culture.
What is social class?
A grouping of people with similar interests, values, behaviors, and wealth.
What are reference groups?
People whose norms and values influence consumer behavior.
What are associative reference groups?
Groups that people want to identify with.
What are dissociative reference groups?
Groups that people do not want to identify with.
What is derived demand?
Demand that depends on the demand of end customers.
What is inelastic demand?
Demand that is not influenced much by price changes.
What is the accelerator principle?
Small changes in consumer demand have a larger effect on business demand.
What is a commercial market?
Organizations and individuals that acquire goods and services to produce other goods and services for profit.
What are extractor industries?
Organizations that obtain and process raw materials.
What are trade industries?
Organizations that acquire or distribute finished products to businesses or consumers.
What are institutions?
Public and private organizations that provide services to consumers.
What are utilities?
Companies that distribute gas, electricity, and water.
What are transportation and telecommunications companies?
Companies that provide passenger and freight service and/or local and long-distance telephone service.
What are government markets?
The federal government, state government, and local government.
What is a supply chain?
The linkage of organizations involved in the creation and delivery of a product.
What is a tier?
The degree of contact between the supplier and the OEM.
What is a make or buy decision?
The decision whether to supply products in-house or purchase them from other businesses.
What is outsourcing?
Purchasing products and services from other companies.
What is a straight rebuy?
A routine purchase with which the organization has considerable experience.
What is a modified rebuy?
The purchase of a familiar product from an unfamiliar supplier or a new or different product from a familiar supplier.
What is a new task situation?
The purchase of an unfamiliar product from an unfamiliar supplier.
What is a buying center?
The group of people from the buying organization who make a purchase decision.
What is a gatekeeper?
A person within the buying center who controls the flow of commercial information into the buying organization.
What is an information seeker?
A person within the buying center who locates data that can be used during the purchasing process.
What is a linking pin?
A person within the buying center who establishes contact among functional areas within the buying organization.
Who are decision makers?
People within the buying center who have the authority to make or approve a purchase decision.
Who are users?
People within the buying center who actually use the product.
What are product factors?
Factors such as time or perceived risk that influence the organizational buying process.
What is customer satisfaction?
A customer's positive, neutral, or negative feeling about the value received from an organization's product in specific use situations.
What is customer loyalty?
A measure of how often, when selecting from a product class, a customer purchases a particular brand.
What is customer lifetime value (CLV)?
The amount of profit a company expects to obtain over the course of a customer relationship.
What is cost structure?
The amount of resources required to produce a specific amount of sales.
What are customer expectations?
Consumer beliefs about the performance of a product based on prior experience and communications.
What are customer defections?
The percentage of customers who switch to another brand or supplier.
What is quality?
The degree of excellence in a company's products or services.
What is subjective assessment of quality?
The degree to which a product does what consumers expect it to do.
What is objective assessment of quality?
An evaluation of the degree to which a product does what it is supposed to do.
What is static quality?
Quality that results when individuals or organizations perfect an accepted practice.
What is dynamic quality?
Quality that results from a change that makes an existing standard obsolete.
What is statistical quality control?
Use of statistics to identify and quantify production line problems.
What is the Malcom Baldrige National Quality Award?
Program to raise quality awareness and practice among U.S. businesses.
What are satisfaction ratings?
Ratings that compare purchase and/or performance satisfaction of specific products.
What is a customer satisfaction measurement program?
Ongoing survey of customers to estimate satisfaction.
What is market segmentation?
Process of dividing a large market into identifiable segments.
What is a market segment?
Homogenous group of consumers with similar needs and buying behavior.
What is target marketing?
Selection of specific homogeneous groups of potential customers for emphasis.
What is positioning?
Creation of an image or reputation in the minds of consumers.
What is product differentiation?
Marketing strategy to make products appear unique compared to competition.
What is a heterogeneous group?
Buyers with diverse characteristics.
What is a homogenous group?
Buyers with similar characteristics.
What is a segmentation variable?
Distinguished market factor that can vary, such as gender or age.
What is zip code segmentation?
Division of a market based on the demographic makeup of zip code areas.
What is demographic segmentation?
Division of the market based on characteristics like gender, income, etc.
What is de-ethnicization?
Process of marketing a product detached from its ethnic roots.
What are psychographics?
Marketing approaches and tools used to identify lifestyles based on measures of consumers' values, activities, interests, opinions, demographics, and other factors.
What is a market segment profile?
Information about a market segment and the amount of opportunity it represents.
What is a targeting strategy?
The number of market segments and the relative amount of resources targeted at each.
What is undifferentiated marketing?
A strategy that views all potential customers as though they are the same.
What is differentiated marketing?
Serving each segment with marketing mix elements matched specifically to its desires and expectations.
What is centralized decision-making?
A management process in which a small group of executives make all the major decisions for the whole company.
What is decentralized decision-making?
A management process in which numerous groups, each dedicated to a specific segment, make decisions about their segment.
What is concentrated marketing?
Focusing the organization's marketing mix strategy on one of only a few of many possible segments.
What is a niche?
A very small market segment that most companies ignore because they fail to see any opportunity.
What is product position?
The characteristics consumers associate with a brand based on important attributes.
What is a positioning map?
A diagram of how consumers in a segment perceive specific brand elements they consider important.
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