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Consumer Behavior Final Exam
MKTG 3343
92
Marketing
Undergraduate 4
12/08/2016

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Term
Marketing Concept
Definition
a philosophy for conducting business where the organization should satisfy the consumer's needs and wants to make profits, carrying it out involves consumer orientation
Term
How does the marketing concept relate to customer orientation?
Definition
In order to carryout the marketing concept you must understand consumer orientation
Term
Customer Orientation
Definition
Understanding the consumer's wants and needs, the competitive environment, and the nature of the market, and using this knowledge to formulate the firm's strategies for creating satisfied customers
Term
Taking a Customer Orientation
Definition
Changed to this b/c customer's demand drove everything. Sovereign (possess all power), global, different and alike, have rights, everyone needs to understand consumers
Term
Business Orientations Preceding Customer Orientation
Definition
Manufacturer orientation -> selling orientation -> market orientation -> customer orientation
B/c you make it ppl buy it, heavy advertising, whole market interested in purchasing, sell to individual/target market
Term
Consumer Behavior Definition
Definition
Studies of individuals, groups, or organizations, and the processes they use to select, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impact that these processes have on the consumer and society
Term
What does Consumer Behavior Involve?
Definition
Affect, cognition, behavior, and the environment, interactions, exchanges, and it is dynamic
Term
Consumer Behavior Analysis
Definition
Affect and cognition, behavior, and the environment
Term
Affect
Definition
A consumer's feelings about stimuli and events
Term
Cognition
Definition
A consumer's thoughts and beliefs about stimuli and events
Term
Behavior
Definition
A consumer's physical actions that can be directly observed and measured by others
Term
Environment
Definition
Everything external to a consumer that influences what s/he, thinks, feels, and does
Term
Applications of Consumer Behavior
Definition
Informs successful marketing strategies
Term
Why do we study Consumer Behavior?
Definition
Helps analyze consumer's increasing influence, educates and protects consumers, helps formulate public policy, affects personal policy
Term
Which Constituencies can benefit from the info about Consumer Behavior?
Definition
Ethical implications for the firm, consumers, and society
Term
Marketing Strategy
Definition
The design, implementation and control of a plan to influence exchanges to achieve organizational objectives
Term
How does the marketing strategy relate to consumer behavior?
Definition
All of the elements revolve around the consumer, it can influence the consumers at different levels, requires consideration of each element of consumer analysis
Term
Customer-oriented Marketing Strategy
Definition
Have a vision about the market, selects avenues for delivering superior value, position the organization and its brands, recognize the potential value of collaborative relationships, reinvent organizational designs
Term
Elements of Marketing Strategy
Definition
Market Analysis, market segmentation, marketing mix strategies, and implementation
Term
Market Analysis
Definition
Process of analyzing consumer trends, current and potential competitors, company strengths and weaknesses, market environment
Term
Customer Value
Definition
The satisfaction a consumer feels after making a purchase for goods or services relative to what s/he must give up to receive them
Term
Customer Satisfaction
Definition
A marketing term that measures how products or services supplied by a company meet or surpass a customer's expectation
Term
Market Segment
Definition
A group of consumers with similar needs and behaviors that differ from the entire mass market (similar in one or more ways)
Term
Elements of an Attractive Market Segment
Definition
Measurable, accessible, substantial, congruent (in agreement)
Term
Target Market
Definition
the market a company wants to sell its products and services to, and it includes a targeted set of customers for whom it directs its marketing efforts at in order to attain its marketing goals
Term
Product position
Definition
Positioning the product or service in the minds of the consumer to appeal to the targeted segments
Term
Marketing Mix
Definition
A business tool used by marketers that is crucial when determining a product's offer and is associated with the four P's
(product, price, promotion, place/distribution)
Term
Product
Definition
Good, service, or combo of the two that is designed to satisfy the want or need
Term
Marketing Communications
Definition
All the messages used across all channels to communicate a message to the market or convey information about a product
Term
Price
Definition
The value put to a product or service and is the result of a complex set of calculations, research, and understanding and risk taking ability
Term
Distribution
Definition
The process of making a product or service available for use or consumption by a consumer or business user, using direct means, or indirect means with intermediaries
Term
Service
Definition
They cannot be stored or transported, are instantly perishable, and come into existence at the time they are bought and consumed
Term
Steps of the Customer Decision-Making Process
Definition
Need/problem recognition -> information search -> evaluation of alternative -> purchase -> post purchase behavior
Term
Customer Problem
Definition
Problems that customers intend to solve with the purchase of a good or service
Term
Need/problem recognition
Definition
Imbalance between actual and desired states (gap between what you want and what you have)
Term
How does problem recognition occur?
Definition
It is triggered by internal or external stimuli (you know or coffee smell triggers your senses)
Term
Types of need/problem recognition
Definition
Out of stock, Dissatisfaction, New wants/needs, Related products/purchases, Marketer-induced problem recognition, New products
Term
Brands Included in a given information search
Definition
Awareness set, evoked set, consideration set
Term
Awareness set
Definition
A group of products you are aware
Term
Evoked set
Definition
Brands consumers can recall from memory
Term
Consideration
Definition
Brands consumer considers buying
Term
Factors that determine the amount of information search a customer will engage in a given purchase situation
Definition
Perceived risk, knowledge and confidence, prior experience, involvement
Term
Purchase Steps of Customer Decision Making Process
Definition
Choice identification, purchase intention, choice implementation
Term
Post Purchase Steps of CDMP
Definition
Decision confirmation/cognitive dissonance, experience evaluation, satisfaction/dissatisfaction, future response (exit, voice, or brand loyalty)
Term
Nominal Decision Making
Definition
Nominal decisions are decisions where you don't consider picking a brand because past experiences with the brand or product led to the same habitual decision
Term
Limited Decision Making
Definition
Used for products purchased occasionally, unfamiliar brand in a familiar product category (Ex. evaluating new brands seen at store)
Term
Extended Decision Making
Definition
Purchases that involve processing more information and going to greater lengths to satisfy a need
Term
Motivation
Definition
Reason for behavior
Term
Motive
Definition
A construct representing an unobservable inner force that stimulates and compels a behavioral response and provides specific direction to that response, compel consumers to take action
Term
Maslow's Hierarchy of Needs 4 premises
Definition
1) Humans acquire a similar set of motives through genetics and interactions 2)Some motives are more basic and critical to survival 3) Basic motives must be satisfied before other higher level motives are activated 4) As basic motives are satisfied, higher level motives are considered
Term
Maslow's Hierarchy of Needs
Definition
Physiological needs, safety needs, social needs, self-esteem needs, and self-actualization
Term
McGuire's Needs (4 Questions)
Definition
Is mode of motivation cognitive or affective? Is the motive preservation of status quo or growth? Is the behavior actively initiated or a response to the environment? Does this behavior help the individual achieve a new internal or new external relationship to the environment?
Term
Regulatory Focus Theory
Definition
Consumer will react differently depending on which motives are most salient (prevention versus promotion)
Term
approach-approach conflict
Definition
Term
Approach-Avoidance Conflict
Definition
Term
Avoidance-avoidancae Conflict
Definition
Term
Manifest vs. Latent Motives
Definition
Known and freely admitted versus unknown or reluctant to reveal
Term
Research Motives 4 Ways
Definition
Focus Groups, In-depth interviews, projective techniques, association tests
Term
Means-end Chain
Definition
Attributes-> Functional Consequences -> Pyschosocial Consequences-> Value
Term
Perception
Definition
Process by which people select, organize, and interpret internal stimuli into a meaningful coherent picture
Term
Components of Perception
Definition
Exposure, attention, interpretation
Term
Exposure
Definition
A stimulus is placed within a person's relevant environment and comes with a range of their sensory receptor nerves
Term
Selective Exposure
Definition
Exposure occurs when the consumer chooses to focus attention on certain stimuli while excluding others
Term
Attention
Definition
The stimulus activates one or more sensory receptor nerves, and the resulting sensations go to the brain for processing; select to interpret
Term
Preconcious Attention
Definition
Long term memory, familiar, low involvement
Term
Focal Attention
Definition
Long-term memory, conscious and controlled, uses cognitive capacity
Term
Interpretation
Definition
The assignment of meaning to sensations, involves the cognitive processes required to understand concepts, events, objects, and persons in the environment
Term
Environmental Prominence's Affect on Perceptual Processes
Definition
If a consumer is constantly exposed to something, it will catch their attention and lead them to interpret and internalize the message of the advertiser
Term
How does involvement affect the perceptual process?
Definition
Involvement = amount of time and effort a buyer invests in the search evaluation, and decision processes of consumer behavior
Term
Perceptual Defenses
Definition
Process in which stimuli that are potentially threatening, offensive, or unpleasant are either not perceived or are screened out, even though exposure has already taken place; the stimuli are less likely to be consciously perceived
Term
Why do consumers avoid marketing info
Definition
Not personally relevant, environmental factors (time pressure), distracting stimuli, marketing info. isn't prominent enough
Term
Marketer's strategies to grab consumer's attention
Definition
Facilitate intentional exposure opportunities, maximize accidental exposure opportunities, maintain exposure
Term
Marketing strategy's relatedness to exposure, attention and comprehension
Definition
Marketers want to maximize exposure to target consumers, capture the attention of consumers, determine what level and amount of comprehension they want consumers to process the info
Term
Decisions affected by exposure, attention, and comprehension
Definition
Product, info, and warning labels
Pricing, distribution, and advertising strategies
Term
Attitude
Definition
An enduring organization of motivational, emotional, perceptual, and cognitive processes with respect to some aspect of our environment
Term
Characteristics of Attitudes
Definition
An individual's overall evaluation of something, held toward almost anything, may vary in levels of abstraction, involve cognitive, affective, and behavioral systems, reflect a predisposition to act, are functional
Term
Ambivalent Attitude
Definition
Holding mixed feelings or beliefs about an attitude object
Term
Components of an Attitude
Definition
Cognition, Affect, and Conation
Term
Cognition
Definition
Beliefs about specific attributes or an overall object
Term
Affect
Definition
Emotions or feelings about specific attributes or an overall object
Term
Conation
Definition
Behavioral intentions w/ respect to specific attributes or an overall object
Term
MAM Model
Definition
Beliefs about a products attributes -> Attitude towards a product -> Evaluation of attribute's importance
Term
Salient Attributes
Definition
Aspect of a product a consumer judges it by. It is noticeable, prominent, and jumps out
Term
Why has the MAM Model remained so popular?
Definition
Quantifiable, very diagnostic, has intuitive feel, industry accepts it, research pragmatics, theoretical relevance
Term
Attitude Response Hierarchy
Definition
The sequence in which affect, cognition, and conation occur
Term
Cognitive Response Hierarchy
Definition
Cognition -> Affect -> Conation
LEARNING
Changing beliefs, ideals, shifting importance, and adding beliefs
Term
Emotional Response Hierarchy
Definition
Affect -> Conation -> Cognition
Term
Conative Response Hierarchy
Definition
Conative -> Affect -> Conation
LOW INVOLVEMENT / "Just try it!"
Involves using incentives, physical environment, government mandates, implementing business procedures, & structuring info.
Term
Intentions
Definition
Expectations that consumers will behave a certain way
Intentions lead to behavior
Term
Intentions accurately measure behavior when...
Definition
1) Consumer has formed an intention to behave before measurement
2) No other info. is encountered
3) Behavior is under the voluntary control of the consumer
Term
Predicted Power of Intentions is Affected By...
Definition
Intervening time, different levels of specificity, unforeseen environmental event, unforeseen situational context, degree of voluntary control, stability of intentions, new info.
Term
Other-oriented values
Definition
Society's view of the appropriate relationship between individuals and a group within that society
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