Marketing Test Review
Review for Marketing Test 1
Terms
undefined, object
copy deck
- Influencers
- affect the buying decision, usually by helping define the specifications for what is bought.
- Aspiration group
- one that a person wishes to be a member of or wishes to be identified with, such as a professional society.
- Physical surroundings
- décor, music, and crowding in retail stores
- Routine problem solving
- for products such as table salt and milk, consumers recognize a problem, make a decision, and spend little effort seeking external information and evaluating alternatives.
- Selective comprehension
- interpreting information so that it is consistent with your attitudes and beliefs.
- Limited problem solving
- consumers seek some information or rely on a friend to help them evaluate alternatives
- Actual self
- how people actually see themselves
- Supply partnership
- buyer and its supplier adopt mutually beneficial objectives, policies, and procedures for the purpose of lowering the cost or increasing the value of products and services delivered to the ultimate consumer.
- Learning
- behaviors that result from repeated experience and reasoning
- Derived demand
- the demand for industrial products and services is driven by demand for consumer products and services.
- Drive
- a need that moves an individual to action
- Personal needs
- include the need for achievement, status, prestige, and self-respect
- Stimulus generalization
- occurs when a response elicited by one stimulus (cue) is generalized to another stimulus.
- Psychographics
- the analysis of consumer lifestyles. Combining psychology, lifestyle, and demographics
- Situational Influences
- when the purchase situations affects the purchase decision process.
- Social needs
- concerned with love and friendship
- Consideration set
- the group of brands that a consumer would consider acceptable from among all the brands in the product class of which he or she is aware.
- Social class
- the relatively permanent, homogeneous divisions in a society into which people sharing similar values, interests, and behavior can be grouped.
- Selective retention
- consumers do not remember all the information they see, read, or hear, event minutes after exposure to it.
- Market-dominating sources
- such as information from sellers that include advertising, company websites, salespeople, and point-of-purchase displays in stores
- Perception
- the process by which an individual selects, organizes, and interprets information to create a meaningful picture of the world.
- Subliminal perception
- you see or hear messages without being aware of them.
- Purchase task
- the reason for engaging in a decision in the first place
- Dissociative group
- one that a person wishes to maintain a distance from because of differences in values or behaviors.
- Perceived risk
- the anxieties felt because the consumer cannot anticipate the outcomes of a purchase but believes that there may be negative consequences.
- Cognitive dissonance
- The feeling of post purchase psychological tension or anxiety
- Antecedent states
- the consumer's mood or the amount of cash on hand
- Post purchase behavior
- when the consumer compares the product with his or her expectations and is either satisfied or dissatisfied.
- Subculture
- subgroups within the larger, or national, culture with unique values, ideas, and attitudes.
- Public sources
- includes various product-rating organizations such as Consumer Reports, government agencies, and TV "consumer programs"
- Value analysis
- a systematic appraisal of the design, quality, and performance of a product to reduce purchasing costs.
- Aspects of personal influence important to marketing
- opinion leadership and word-of-mouth activity
- Traditional auction
- a seller puts an item up for sale and would-be buyers are invited to big in competition with each other
- Membership group
- one to which a person actually belongs, including fraternities and sororities, social clubs, and the family.
- Subjective attributes
- prestige
- Motivation
- the energizing force that stimulates behavior to satisfy a need
- Gatekeepers
- control the flow of information in the buying center.
- Internal search
- scanning your memory for previous experiences with products or brands
- Cognitive learning
- making connections between two or more ideas or simply observing the outcomes of others' behaviors and adjusting your own accordingly
- Organizational buyers
- manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale
- Word-of-mouth
- influencing people during conversations
- Users
- the people in the organization who actually use the product or service
- Spouse-dominant decisions
- either the husband or the wife is responsible
- Evaluative criteria
- represent both the objective attributes of a brand and the subjective ones you use to compare different products and brands.
- New buy
- the organization is a first-time buyer of the product or service
- Organizational buying behavior
- 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.
- Temporal effects
- time of day or the amount of time available
- Personality
- a person's consistent behaviors or responses to recurring situations.
- North American Industry Classification System (NAICS)
- provides common industry definitions for Canada, Mexico, and the United States, which makes easier the measurement of economic activity in the three member countries of the North American Free Trade Agreement (NAFTA)
- Make-buy decision
- an evaluation of whether components and assemblies will be purchased from outside suppliers or built by the company itself.
- Beliefs
- a consumer's subjective perception of how a product or brand performs on different attributes
- Cue
- a stimulus or symbol perceived by customers
- Involvement
- the personal, social, and economic significance of the purchase to the consumer.
- Consumer socialization
- the process by which people acquire the skills, knowledge, and attitudes necessary to function as consumers
- Physiological needs
- basic to survival and must be satisfied first
- Extended problem solving
- each of the 5 stages of the consumer purchase decision process is used
- ISO 9000
- standards for registration and certification of a manufacturer's quality management and assurance system based on an on-site audit of practices and procedures.
- Straight rebuy
- the buyer or purchasing manager reorders an existing product or service from the list of acceptable suppliers, probably without even checking with users or influencers from the engineering, production, or quality control departments.
- Self-actualization needs
- involve personal fulfillment
- Social surroundings
- includes the other people present when a purchase decision is made
- Modified rebuy
- the users, influencers, or deciders in the buying center want to change the product specifications, price, delivery schedule, or supplier
- National character
- a distinct set of personality characteristics common among people of a country or society
- Purchase decision process
- problem recognition, information search, alternative evaluation, purchase decision, post purchase behavior
- Attitude
- learned predisposition to respond to an object or class of objects in a consistently favorable or unfavorable way
- Reference groups
- people to whom an individual looks as a basis for self appraisal or as a source of personal standards.
- Stimulus discrimination
- a person's ability to perceive differences in stimuli
- Organizational buying criteria
- the objective attributes of the supplier's products and services and the capabilities of the supplier itself.
- Consumer behavior
- the actions a person takes in purchasing and using products and services, including the mental and social processes that come before and after these actions.
- Response
- the action taken by a consumer to satisfy the drive
- Reverse auction
- a buyer communicates a need for a product or service and would-be suppliers are invited to big in competition with each other.
- Buyers
- have the formal authority and responsibility to select the supplier and negotiate the terms of the contract.
- Reverse marketing
- transform buying criteria into specific requirements that are communicated to prospective buyers.
- Government units
- federal, state, and local agencies that buy goods and services for the constituents they serve
- Selective exposure
- when people pay attention to messages that are consistent with their attitudes and beliefs and ignore messages that are inconsistent
- Family life cycle
- the distinct phases that a family progresses through from formation to retirement, each phase bringing with it identifiable purchasing behaviors.
- Opinion leaders
- individuals who exert direct or indirect social influence over others
- Deciders
- have the formal or informal power to select or approve the supplier that receives the contract.
- Bidder's list
- a list of firms believed to be qualified to supply a given item
- Problem recognition
- the initial stage in the purchase decision, is perceiving a difference between a person's ideal and actual situations big enough to trigger a decision.
- E-marketplaces
- online trading communities that bring together buyers and supplier organizations.
- Personal sources
- relatives, friends whom the consumer trusts
- Business marketing
- 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
- Brand loyalty
- a favorable attitude toward and consistent purchase of a single brand over time
- Just-in-time
- reduces the inventory of production parts to those to be used within hours or days
- Buying center
- the group of people in an organization who participate in the buying process and share common goals, risks, and knowledge important to a purchase decision.
- Lifestyle
- mode of living that is identified by how people spend their time and resources, what they consider important in their environment, and what they think of themselves and the world around them.
- Industrial firms
- reprocess a product or service they buy before selling it again to the next buyer.
- Joint decision-making style
- most decisions are made by both husband and wife
- Safety needs
- involve self-preservation and physical wellbeing
- Selective perception
- a filtering of exposure, comprehension, and retention
- Reinforcement
- the reward
- Buying committee
- a highly formalized buying center
- The ideal self
- how people would like to see themselves
- Resellers
- wholesalers and retailers that buy physical products and resell them again without any reprocessing
- Behavioral learning
- the process of developing automatic responses to a situation built up through repeated exposure to it
- Self-concept
- the way people see themselves and the way they believe others see them
- Objective attributes
- locate speed
- Buy classes
- consists of three types of organizational buying situations: straight rebuy, new buy, and modified rebuy