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Definition
| A model that does not contain sufficient detail to predict particular behaviors but contains the beliefs about the general nature of a given theory. |
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Term
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Definition
| The study of individuals, groups, or organizations and the processes they use to select, secure, use and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these have on the consumer and society. |
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| Everything the consumer must surrender in order to receive the benefits of owning/using the product. |
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| When customers are satisfied with their purchase and the use of the product. |
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Definition
| The difference between all the benefits derived from a total product and all the costs of acquiring those benefits. |
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| Having the product available where target customers can buy it. |
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| When individuals or groups make consumption decisions that have negative consequences for their long-run-well-being. |
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| Small, convenient, open-air retailing complexes laid out to evoke the small-town shopping districts of previous generations. |
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Definition
| Advertising, the sales force, public relations, packaging, and any other signal that the firm provides about itself and its products. |
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| The product, price, communications, distributions, and services provided to the target market. |
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| Answers the question: How will we provide superior customer value to out target market? |
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| A portion of a larger market whose needs differ from the larger market. |
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| Used to reflect the fact that most products in developed economies satisfy more than one need. |
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| The amount of money one must pay to obtain the right to use the product. |
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| Anything a consumer acquires or might acquire to meet a perceived need. |
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Definition
| An image of the product or brand in the consumer's mind relative to competing products and brands. |
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Definition
| The totality of an individuals thoughts and feelings about him or herself. |
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Definition
| Auxiliary or peripheral activities that are performed to enhance the primary product or service. |
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Definition
| The application of marketing strategies and tactics to alter or create behaviors that have a prositive effect on the targeted individuals or society as a whole. |
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Definition
| That segment(s) of the larger market on which we will focus our marketing effort. |
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Definition
| The product features, price, communications, distribution, and services that will provide customers with superior value. |
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Term
| The marketing concept states that a firm typicall succeeds via 3 Factors: |
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Definition
Consumer Orientation
Goal Orientation
Systems Orientation |
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Term
Consumer Orientation
(The Marketing Concept) |
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Definition
| Identify the customers needs and wants in products and satisfy them through offering those products. |
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Term
Goal Orientation
(The Marketing Concept) |
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Definition
| The concept stresses profitability for the firm, though with an emphasis on long term profits |
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Term
Systems Orientation
(The Marketing Concept) |
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Definition
| Integration and coordination of marketing functions with the other corporate functions. |
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Term
| Who cares about consumer behavior and who uses it? |
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Definition
- Marketing Managers
- Regulatory Policy - Lawmakers sometimes use consumer behavior to create legislature.
- Social Marketing - The use of marketing strategies to change the way people behave.
- Informed Consumers - Use consumer behavior for self knowledge. Whey the understand the marketplace better through CB, that should translate into saving money.
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Term
| Market Analysis Components |
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Definition
- The Consumers
- The Company
- The Competitors
- The Conditions - The state of the economy, the physical environment, government regulations, and technological developments affect consumer needs and expectations as well as company and competitor capabilities.
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Term
| The 4 Steps of Market Segmentation: |
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Definition
- Identifying Product-Related Need Sets
- Grouping Customers with Similar Need Sets
- Describing Each Group
- Selecting an Attractive Segment(s) to Serve
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Term
| 4 P's of the Marketing Mix |
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Definition
- Product
- Price
- Place
- Promotions
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Term
| Major External Influences to Consumer Behavior: |
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Definition
- Culture
- Demographics and social stratification
- Ethnic, religious, and regional subcultures
- Families and households
- Groups
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Term
| The Major Internal Influences to Consumer Behavior: |
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Definition
- Perception
- Learning
- Memory
- Motives
- Personality
- Emotions
- Attitudes
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Term
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Definition
| The complex whole that includes knowledge, belief, art, law, morals, customs, and any other capabilities and habits acquired by humans as members of society. |
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Term
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Definition
| Describe a population in terms of its size, structure, and distribution. |
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Term
| Environment-oriented values |
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Definition
| Prescribe a society's relationship to its economic and technical as well as its physical environment. |
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Term
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Definition
| Literally translated as personal connections/relationships on which an individual can draw to secure resources or advantages when doing business as well as in the course of social life. |
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Term
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Definition
| The acquisition of things to enable one to do something. |
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Term
| Monochronic Time Perspective |
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Definition
| Time is seen as a physical object: it can be scheduled, wasted, lost, and so forth. Followers of this perspective have a strong orientation toward the present and the short-term future. |
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Term
| Nonverbal Communication Systems |
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Definition
| The arbirary meanings a culture assigns actions, events, and things other than words. |
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Term
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Definition
| Reflect a society's view of the appropriate relationships between individuals and groups within that society. |
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Term
| Polychronic Time Perspective |
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Definition
| People and relationships take priority over schedules, and activities occur at their own pace rather than according to a predetermined timetable. Followers of this perspective have an orientation toward the present and the past. |
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Term
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Definition
| The degree to which people accept inequality in power, authority, status, and wealth as natural or inherent in society. |
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Term
| Purchasing Power Parity (PPP) |
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Definition
| Based on the cost in U.S. dollars of a standard market basket of products bought in each country. |
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Term
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Definition
| Penalties ranging from mild social disapproval to banishment from the group. |
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Term
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Definition
| Reflect the objectives and approaches to life that the individual members of society find desirable. |
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Term
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Definition
| The acquisition of items for the sake of owning the item itself. |
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Term
| Verbal Communication Systems |
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Definition
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Term
| 3 Broad Forms of Cultural Values |
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Definition
- Other-Oriented Values
- Environment-Oriented Values
- Self-Oriented Values
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Term
| The Top 3 Homebuyer Groups |
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Definition
- Married Couples (59%)
- Single Females (21%)
- Single Males (11%)
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Term
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Definition
| Based on performance criteria over which the individual has some degree of control. |
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Term
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Definition
| Based on an attribute over which the individual has little or no control. |
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Term
| Cause-Related Marketing (CRM) |
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Definition
| Marketing that ties a company and its products to an issue or cause with the goal of improving sales or corporate image while providing benefits to the cause. |
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Term
| Modern Gender Orientation |
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Definition
| A marriage where husband and wife share responsibilities |
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Term
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Definition
| Involves methods that are (a) profitable for the farmer, (b) environmentally sound, and (c) socially responsible. |
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Term
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Definition
| Concsumers' efforts to reduce their reliance on consumption and material possessions. |
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Term
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Definition
| A group of persons who have experienced a common social, political, historical, and economic environment. |
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Term
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Definition
| A movement in which companies are expanding opportunities for less affluent consujers to afford luxury. |
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Term
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Definition
| One's perceived age, a part of one's self-concept. |
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Term
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Definition
| The process of describing and explaining the attitudes, values, and behaviors of an age group as well as predicting its future attitudes, values, and behaviors. |
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Term
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Definition
| The purchase and use of automobiles, homes, yachts, clothes, and so forth primarily to demonstrate great wealth. |
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Term
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Definition
| Describe a population in terms of its size, distribution, and structure. |
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Term
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Definition
| A group of persons who have experienced a common social, political, historical, and economic environment. |
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Term
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Definition
| A segmentation approach to the mature market that is based on the physical health and mental outlook of older consumers. |
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Term
Index of Social Position
(ISP) |
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Definition
| A two-item index that is well developed and widely used. |
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Term
Index of Status Characteristics
(ISC) |
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Definition
| System based on four socioeconomic factors: Occupation, source of income, house type, and dwelling area. |
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Term
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Definition
| Used to measure social class. |
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Term
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Definition
| Acitvely seek out high-status brand and activities; doing the "in" thing on a grand scale is important to this group. |
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Term
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Definition
| Estimate social status on the basis of a single dimension. |
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Term
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Definition
| One's position relative to others on one or more dimensions valued by society. |
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Term
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Definition
| The question of whether or not an individual with high status based on one dimesnion will have high status based on the other dimensions. |
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Term
Subjective Discretionary Income
(SDI) |
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Definition
| An estimate by the consumer of how much money he or she has available to spend on nonessentials. |
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Term
| Working-Class Aristocrats |
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Definition
| Dislike the upper-middle class and prefer products and stores positioned at their social-class level. |
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