Term
| Define consumer behavior. |
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Definition
| persons actions in buying/using products |
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Term
| 5 Steps in Purchase Decision Process? |
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Definition
1. Problem recognition
2. Information Search
3. Alternative Evaluation
4. Purchase Decision
5. Post Purchase Decision |
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Term
| Describe the external search (3 outcomes) from the information search of the PDP. |
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Definition
From personal, public and marketer sources.
1. suggest criteria
2. yield brand name
3. develop value perceptions |
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Term
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Definition
| significance of purchase to consumer |
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Term
| three problem solving variations? |
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Definition
1 extended
2. limited
3. routine |
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Term
| Four Influence Categories in PDP? |
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Definition
1. Marketing Mix
2. Psychological
3. Sociocultural
4. Situational |
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Term
| Define motivation. PSYCHO-INF - 1/5 |
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Definition
| energizing force that stimulates behavior |
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Term
| Define personality. PSYCHO-INF - 2/5 |
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Definition
| consistent behaviors towards recurring situations |
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Term
| Define perception. PSYCHO-INF - 2/5 |
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Definition
| individual selects, organizes and interprets to create view |
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Term
| Define perceived risk. PSYCHO-INF - 2/5 |
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Definition
| anxiety from not anticipating negative outcomes |
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Term
| What are some strategies for overcoming perceived risk? PSYCHO-INF - 2/5 |
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Definition
| Seals of approval, influencer endorsements, free trials, instruction, warnings and guarantees. |
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Term
Define learning. PSYCHO-INF 3/5
Name the tree types. |
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Definition
results from 1) repeated experience and 2) reasoning
1. behavioral
2. cognitive
3. brand loyalty |
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Term
What are the four behavioral learning variables?
Two marketing concepts?
PSYCHO-INF 3/5 |
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Definition
1. drive
2. cue - perceived symbols
3. response
4. reinforcement/reward
Two marketing concepts:
stimulus generalization - response is general to brand
stimulus discrimination - perceived difference |
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Term
| Define attitude. PSYCHO-INF 4/5 CULTURE |
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Definition
| consistent responses shaped by values, beliefs that are LEARNED |
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Term
| What are three approaches to changing attitude? |
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Definition
1. change beliefs about product attributes
2. change perceived importance of attributes
3. add new product attributes |
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Term
| Define consumer lifestyle. PSYCHO-INF 5/5 |
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Definition
| how someone spends resources. VALS and psychographics. |
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Term
| Name the six psychological influences on PDP. |
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Definition
1.motivation
2. personality
3. perception
4. learning
5. VBA
6. lifestyle |
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Term
| Name the four sociocultural influences on the PDP. |
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Definition
1. personal
2. reference groups
3. family
4. culture/subculture |
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Term
| Name the five situational influences in PDP. |
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Definition
1. purchase task
2. social surrounding
3. physical surrounding
4. temporal effects (how much time to decide)
5. antecedent states (mood, buying power) |
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Term
| Name the five roles of family purchasing. |
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Definition
1. information gatherer
2. influencer
3. decision maker
4. purchaser
5. user |
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Term
| Define organizational buyers. |
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Definition
| Org buyers purchase products for resale. |
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Term
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Definition
1. industrial - reprocess items
2. reseller - w/o reprocessing
3. government - purchase for constituents |
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Term
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Definition
North American Industry Classification System.
Study market share and growth. |
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Term
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Definition
| industrial demand from consumer demand |
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Term
| Define organizational buying behavior. |
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Definition
| Process by which organizations choose suppliers. |
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Term
| Describe the roles of the buying center. |
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Definition
Those who participate in purchasing decision.
User, influencer, buyer, decider, gatekeeper. |
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Term
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Definition
| types of buying situations: new buy, straight rebuy, mod rebuy |
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Term
| Name some global market trends. |
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Definition
Decline of economic protectionism.
Formal economic integration.
Global competition.
Development of global marketspace. |
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Term
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Definition
| Tariffs/quotas to protect domestic industry from foreign competition. |
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Term
| Name three types of global companies. |
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Definition
1. international - extension of home strategy
2. multinational - world as unique parts
3. transnational - one message, minor adaptions |
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Term
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Definition
| Marketed under one name in multiple countries. |
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Term
| Three components of a global environmental scan? |
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Definition
1.Cultural - cross cultural analyis for values, customs, symbols, use back translation
2. Economic - infrastructure, consumer income, XE
3. Political - regulatory, stability, trade regs |
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Term
| Describe four market entry strategies. |
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Definition
1.export - make here, sell there
2. licensing - offer up trade rights, control of product
3. joint venture - partner with local
4. direct investment - actually set up subsidiary shop |
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Term
| Describe the five product/promotion strategies. |
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Definition
1. product extension
2. product adaptation
3. product reinvention
4. distribution strategy
5. pricing - "dumping", gray market |
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Term
| What is the significance of the Foreign Corrupt Practices Act? |
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Definition
| crime for US corporations to bribe an official of a foreign government or political party to obtain business |
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Term
| 5 steps of market research |
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Definition
1.define problem (ID actions)
2.develop research plan (constraints, concepts, methods)
3.collect relevant information (internal, external, mined)
4.develop findings (analyze and present)
5. take marketing actions (recommend, forecast) |
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Term
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Definition
Primary was gathered by you.
Secondary = meta-analysis |
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Term
| Questionnaires seek data on what? |
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Definition
| attitudes, awareness, intentions, behaviors |
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Term
| What are five types of problematic questions? |
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Definition
| leading, ambiguous, unanswerable, two in one, non-mutually exclusive |
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Term
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Definition
| total sales of product expected to sell during specific period under specific circumstances |
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Term
| Define market segmentation. |
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Definition
| aggregating prospective buyers into groups with common needs, similar responses |
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Term
| Define product differentiation. |
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Definition
| using unique marketing mix activities to create a distinct perception from competitors |
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Term
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Definition
| increasing customer service through ops efficiency |
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Term
| 5 steps in segmenting target markets: |
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Definition
1. group potential buyers
2.group products sold into categories
3. develop market-product grid
4. select target markets
5. take marketing mix actions |
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Term
| Name some factors in selecting target markets. |
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Definition
| compatibility, market size, expected growth, composition, cost of reach |
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Term
| Define product positioning. |
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Definition
| the place a product occupies in consumers minds in important attributes, relative to competing products |
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Term
| What are the two approaches to product positioning? |
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Definition
head-to-head (same attributes, same market)
differentiation |
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Term
| Three types of data used to determine position, develop perception maps. |
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Definition
1.ID important attributes
2. judge existing product
3. rate "ideal" product/brand attributes |
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