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| Purchase Decision Process |
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Definition
- Problem recognition- perceiving a need
- info search- seeking value
- alternative evaluation- assessing value
- purchase decision- Buying value
- post-purchase behavior- value in consumption or use
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people whom an individual looks for self appraisal or as a source of personal standards
- membership group
- aspiration group
- dissociative group
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the process by which people acquire skills, knowledge, and attitudes necessary to function as consumers
ex. children learn how to purchase by
- adults and adult purchase behavior
- personal purchasing and usage experiences
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individuals who exert direct or indirect influence over others
ex. celebrities, church ministers |
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| the anxiety felt b/c the consumer cannot anticipate the outcomes of a purchase but believes there maybe negative consequences |
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| you see and hear messages w/o being aware of them |
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| the process by which an individual selects, organizes and interprets info to create a meaningful picture of the world |
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the way people see themselves and the way they believe other see them
- actual- are
- ideal- would like
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- Self- achievement
- Personal- status
- Social- friendship and love
- Safety- financial security
- Physiological- food water shelter O2
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- the purchase task
- social surroundings
- physical surroundings
- temporal effects
- antecedent states
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| reason for engaging in decision/purchase |
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| time of day, how much time you have to make decision |
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| consumer mood/ amount of cash on hand |
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| the personal, social, and economic significance of the purchase to the consumer |
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- expensive
- can have serious personal consequences
- could reflect one's social image
ex. purchase of iPhone |
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the feeling of post purchase psychological tension or anxiety with possibly buying the wrong brand
ex. CVS Brand or Nyquil? |
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| the group of brands that a consumer would consider acceptable from among all the brands of which he or she is aware of in the product class |
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- suggesting criteria to use for the purchase
- yielding brand names that might meet the criteria
- develping consumer value perceptions
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- personal sources- family, friends
- public sources- consumer reports/gov't agencies
- marketer dominated source- company websites, ads, sales ppl
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| the process by which ppl learn culture |
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| a filtering of exposure, comprehension, and retention |
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| occurs when people pay attemtion to messages that are consisten with their attitudes and beliefs and ignore messages that are inconsistent |
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| involves interpreting information so that it is consistent with your attitudes and beliefs |
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| means that consumers do not remember all the information they see, read, and hear, even minutes after exposure to it |
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the demand for one product drives up the demand for another
ex. demand for cars ups demand for oil |
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| the marketing of goods and services to companies, governments, or not for profit organizations for use in the creation of goods and services that they can produce and market to others |
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those manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale. Markets:
- industrial
- reseller
- government
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Term
| North American Industry Classification System (NAICS) |
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Definition
| provides common industry definitions for Canada, Mexico and the United States, which makes it easier to measure economic activityin the threw member counties of the NAFTA |
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| derived demand (book definition) |
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| industrial demand is driven by consumer demand |
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| Organizational buying criteria |
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the objective attributes of the supplier's products/services and the capabilities of the supplier itself
- price
- ability to meet the quality specifications required
- ability to meet required delivery schedules
- technical capabilities
- warranties and claim policies in event of poor performance
- past performance on previous contracts
- production facilities capacity
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| developed by the International Standards Organization ISO in Geneva, Swizterland, refer to standards for registration and certification of a manufacturer's quality managment and assurance system based on an onsite audit of practices and procedure |
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| the deliberate effort by organizational buyers to build relationships that shapes suppliers' products, services and capabilities to fit a buyer's needs and those of its customers |
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| an industrial buying practice in which two organizations agree to purchase each other's products and services |
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| when a buyer and its supplier adopt mutally beneficial objectives, policies, and procedures for the purpose of lowering the cost of increasing the value of products and services delivered to the ultimate consumer |
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| when several people in the organization take part in the buying process, sharing common goals, risks and the knowledge important to a purchase decision |
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| Roles in the Buying Center |
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Definition
- users
- influencers
- buyers
- deciders
- gatekeepers- control the flow of info to the buying center
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3 types
- new buy
- straight rebuy
- modified rebuy
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- many people involved
- long decision time
- uncertain problem definition
- Buying objective- good solution
- new/present suppliers considered
- technical/operating personnel in buying influence
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office supplies and maintenance services
- one person involved
- short decision time
- well defined problem
- low priced supplier
- present supplier
- influencer- buying agent
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| two or three people with a moderate decision time, usually to include a new member, minor modifications |
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| organizational buying behavior |
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| the decision making process that organizations use to establish the need for products and services and identify, evaluate, and choose among alternative brands and suppliers |
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| an evaluation of whether components and assemblies will be purchased from outside suppliers or built by the company itself |
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| a systematic apprasial of the design, quality, and performance of a product to reduce purchasing costs |
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| a list of firms believed to be qualified to supply a given item |
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- thousands of geographically dispersed buyers and sellers
- volatile prices caused by supply and demand shifts
- time sensitivity due to perischable offerings and changing technologies
- easily comparable offerings between a variety of sellers
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a seller puts an item up for sale and the would be buyers are invited to bid in competition with each other
more buyers = higher price |
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a buyer communicates a need for a product or service and would be suppliers are invited to bid in competition with each other.
more sellers=lower price |
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| the prcess of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions |
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| a concious choice from among two or more alternatives |
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| 3 types of marketing research |
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- exploratory- provides ideas about a
- descriptive- frequency/extent of relationship b/w 2 factors
- causal- does this cause that?
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the restrictions placed on potential solutions to a problem
i.e. time and money |
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| facts and figures that have already been recorded before the project at hand |
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| facts and figures that are newly collected for the project |
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| facts and figures obtained by watching, either mechanically or in person, how people actually behave |
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| facts and figures obtained by asking people about their attitudes, awareness, intentions, and behaviors |
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| allows respondents to express opinions, ideas, or behaviors in their own words without being forced to choose among alternatives |
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| fixed alternative question |
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| require respondents to select one or more response options from a set of predetermined choices |
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| the respondent indicates the extent to which he or she agrees or disagress with a statement |
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- leading question
- ambigous question
- unanswerable question
- two questions in one
- nonmutually exclusive answers Age:10-20,20-40
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| the extraction of hidden predictive information from large databases to find statistical links between consumer purchasing patterns and marketing actions |
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| tailoring goods or services to the tastes of individual customers on a high-volume scale |
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| involves aggregating prospective buyers into groupls that have common needs and will respond similarly to a marketing action |
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the relatively homogenous groups of prospective buyers that result from market segmentation
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| a firm using different marketing mix strategies such as product features and advertising, to help consumers perceive the product as being different or better than competing products |
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| the increased customer value achieved through performing organizational functions such as marketing and manufacturing more efficiently |
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- geographic- region
- demographic-age,gender, household size
- psychographic- lifestyle, personality
- behavioral- frequency of actions
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| the quantity consumed or patronage (store visits) during a specific period |
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| a concept that suggests 80 percent of a firm's sales are obtained from 20% of its customers |
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| a framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization |
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| the place a product occupies in consumers' minds on important attibutes relative to competitive products |
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| changing the place a product occupies in a consumer's mind relative to competitive products |
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| a means of displaying or graphing two dimensions the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands as well as its own product or brand |
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