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| the set of value-seeking activities that tale place as people go about addressing and attempting to address real needs. |
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| the acting out of a decision to give something up in return for something percieved to be of greater value. |
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| are the negative results of consumption experiences. |
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| the positive results of consumption experiences. |
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| the process by which consumers use goods, services, or ideas and transofrm the experience into value. |
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| consumer behavior as a field of study |
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| the study of consumption as they go through the consumption process |
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| the study of production and consumption. |
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| the study of human reactions th their environment. |
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| the thoughts, feelings, and behvaiors that people have as they interact with other people (group behavior). |
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| the intracacies of mental reactions involved in information processing. |
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| way of doing business in which actions and decisions making prioritize consumer value and satisfaction |
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| organizational culture that embodies the importance of creating value for customers among all employees |
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| firms recognize that more than just the buyer and seller are involved in the marketing process |
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| customers, employees, owners, suppliers, and regulating agencies |
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| mass media, communities, and trade organizations |
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| activities based on the belief that the firm's performance is enhanced through repeat business |
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| 80% of your business comes for 20% of your customers |
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| seeks to explain the inner meanings and motivations associated with specific consumption experiences |
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| study of consumers that relies on interpretation of their lived experience associated with some aspect of consumption |
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| study of consumers that relies on interpretation of artifacts to draw conclusions about consumptions. |
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| deal with geographical and cultural distances. cultures interpret products and behaviors differently. |
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| represents massive amounts of data available to companies that can be used to predict consumers' behaviors |
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| application of statisctical tools to discover patterns in data that allow prediction of consumer behavior |
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| way a company goes about creating value for customers |
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| way a firm is defined and sets its general goals |
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| way by which merketing management is implemented |
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| separation of a market into groups based on the different demand curves associated with each group |
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| consumers do not view all competing products as identical to one another |
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| the combination of product, pricing, promotion, and distribution strategies used to position some product offering or brand in the marketplace |
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| which market segment a company will serve with a specific market mix |
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| graphical depiction of the positioning of competing products |
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| Consumer Lifetime Value (CLV) |
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| = npv(sales-cost) + npv(equity) |
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| process by which the human brain assembles sensory evidence into something recognizable. |
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| extent to which a message is internally consistent and fits surrounding information. |
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| memory for things that a person did not try to remember |
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| the person intends to remember information |
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| meaning of something is influenced by the environment |
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| area where a consumer stores encounters exposed to one of the five senses |
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| workbench (short-term) memory |
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| storage area where info is stored while being processed and encoded for later recall |
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| repository for all information that a person has encountered. |
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| holding a thought in short-term memory by mentally repeating the thought |
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| two different sensory "traces" are available to remember something |
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| occurs when preexisting knowledge is used to store new information |
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| grouping stimuli by meaning so that multiple stimuli becomes a single memory unit |
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| concept within a schema that is the single best representative of some category |
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| best representative of some category but that is not represented by an existing entity. |
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| safety, be informed, redress and to be heard, choice |
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