24 terms

Marketing Vocab Chap 5

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Terms in this set (...)

Consumer Buyer Behavior
Buying behavior of final consumers - Individuals and households that buy goods and services for personal consumption
Consumer Market
All the individuals and households that 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
Cross-cultural marketing
Including ethnic themes and cross-cultural perspectives within a brand's mainstream marketing
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
Word-of-mouth influence
The impact of the personal words and recommendations of trusted friends, associates, and other consumers on buying behavior
Opinion leader
A person within a reference group who, because of special skills, exerts social influence on others
Online Social networks
Online social communities where people socialize or exchange info 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 distinguish a person or group
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
Cognitive Dissonance
Buyer discomfort caused by postpurchas conflict
New product
A good, service, or idea that is perceived by some potential customers as new
Adoption process
Mental process through which an individual passes from first hearing about an innovation to final adoption
Derived demand
Business demand that ultimately comes from the demand for consumer goods
Supplier development
Systematic development of networks of supplier-partners to ensure an appropriate and dependable supply of products and materials for use in making products or reselling them to others
Buying Center
All the individuals and units that play a role in the purchase decision-making process
Product Value Analysis
Carefully analyzing a product's or service's components to determine if they can be redesigned and made more effectively and efficiently to provide greater value
E-procurement
Purchasing through electronic connections between buyers and sellers - usually online