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Chp. 5 Marketing

QuestionAnswer
Consumer Buyer Behavior The buying behavior of final consumers - individuals and households who buy goods and services for personal consumption.
Consumer Market All the individuals and households who buy or acquire goods and services for personal consumption.
Culture The set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions.
Subculture A group of people with shared value systems based on common life experiences and situations.
Social class Relatively permanent and ordered divisions in a society whose members share similar values, interests, and behaviors.
Group Two or more people who interact to accomplish individual or mutual goals.
Opinion Leader Person within a reference group who, because of special skills, knowledge, personality, or other characteristics, exerts influence on others.
Online Social Networks Online social communities - blogs, social networking Web sites, or even virtual worlds - where people socialize or exchange information and opinions.
Lifestyle A person's pattern of living as expressed in his or her activities, interests, and opinions.
Personality The unique psychological characteristics that lead to relatively consistent and lasting responses to one's enviroment.
Motive (drive) A need that is sufficiently pressing to direct the person to seek satisfaction of the need.
Perception The process by which people select, organize, and interpret information to form a meaningful picture of the world.
Learning Changes in an individual's behavior arising from experience.
Belief A descriptive thought that a person holds about something.
Attitude A person's consistently favorable or unfavorable evaluations, feelings, and tendencies toward an object or idea.
Cognitive Dissonance Buyer discomfort caused by postpurchase conflict.
New Product A good, service, or idea that is perceived by some potential customers as new.
Adoption Process The mental process through which an individual passes from first hearing about an innovation to final adoption.
Business Buyer Behavior The buying behavior of the organizations that buy goods and services for use in the production of other products and services or for the purpose of reselling or renting them to others at a profit.
Derived Demand Business demand that ultimately comes from (derives from) the demand for consumer goods.
Straight Rebuy A business buying situation in which the buyer routinely reorders something without any modifications.
Modified Rebuy A business buying situation in which the buyer wants to modify product specifications, prices, terms, or suppliers.
New task A business buying situation in which the buyer purchases a product or service for the first time.
Systems selling (solution selling) Selling a complete solution to a problem, helping buyers to avoid all the seperate decisions involved in a complex buying situation.
Buying Center All the individuals and units that participate in the business buying - decision process.
Value Analysis An approach to cost reduction in which components are studied carefully to determine if they can be redesigned, standardized, or made by less costly methods of production.
Created by: tgrant01
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