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Marketing Management Ch 06
Basic Marketing Chapter 6 Vocab
30
Marketing
Undergraduate 3
02/07/2012

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Term
economic buyers
Definition
people who know all the facts and logically compare choices to get the greatest satisfaction
Term
economic needs
Definition
needs concerned with making the best use of a consumer's time and money
Term
Needs
Definition
basic forces that motivate people to do something
Term
Wants
Definition
"needs" that are learned during a person's life
Term
drive
Definition
a strong stimulus that encourages action to reduce a need
Term
physiological needs
Definition
biological needs-food, liquid, rest, sex
Term
safety needs
Definition
concerned with protection and physical well being (health, financial security, medicine)
Term
social needs
Definition
concerned with love, friendship, status, and esteem
Term
personal needs
Definition
concerned with an individual's need for personal satisfaction
Term
perception
Definition
how we gather and interpret information from the world around us.
Term
selective exposure
Definition
our eyes and minds seek out an notice only information that interests us
Term
selective perception
Definition
we screen out or modify ideas, messages, and information that conflict with previously learned attitudes and beliefs
Term
selective retention
Definition
we remember only what we want to remember
Term
learning
Definition
a change in a person's thought process caused by prior experience
Term
cues
Definition
products, signs, ads, and other stimuli in the environment
Term
response
Definition
an effort to satisfy a drive
Term
reinforcement
Definition
part of the learning process that occurs when the response is followed by satisfaction
Term
attitude
Definition
a person's point of view toward something
Term
belief
Definition
a person's opinion about something
Term
expectation
Definition
an outcome or event that a person anticipates or looks forward to
Term
trust
Definition
the confidence a person has in the promises or actions of another person, brand, or company
Term
psychographics or lifestyle analysis
Definition
the analysis of a person's day-to-day pattern of living as expressed in that person's Activities, Interests, and Opinions-sometimes referred to as AIO's.
Term
social class
Definition
a group of people who have approximately equal social positions as viewed by others in society
Term
reference group
Definition
the people to whom an individual looks when forming attitudes about a particular topic
Term
opinion leader
Definition
a person who influences others
Term
culture
Definition
the whole set of beliefs, attitudes, and ways of doing things of a reasonably homogeneous set of people.
Term
extensive problem solving
Definition
putting much effort into deciding how to satisfy a need.
Term
Limited problem solving
Definition
some effort is required in deciding the best way to satisfy a need when it occurs.
Term
Routinized response behavior
Definition
when he or she regularly selects a particular way of satisfying a need when it occurs
Term
low-involvement purchases
Definition
purchases that have little importance or relevance for the customer
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