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Business Marketing 11:20
Terms in this set (11)
Bases for segmenting (age, geographic, etc.)
Plays a key role in marketing. Helps marketers define customers needs and wants. It also helps customers with decision making.
Types of value
-Perceived- Value customer expects to obtain from a purchase.
-Utilitarian-Value derived from a product or service that helpt the consumer. The use
-Hedonic-the warm and fuzzy. The feelings we associate with someting (good, important, rich etc.)
the stage of the buyer decision process in which the consumer is motivated to search for more information; Internal info search, Recalling past info stored in memory
any unit of input affecting one or more of the five senses: sight, smell, taste, touch, hearing
roles of family
Nurture and socialize children
Provide a secure base
Take care of each other
Love each other
Create shared meaning
Responsible for how cultural values and norms are passed down to children.
Marketing and non-marketing controlled information sources
Groups that influence our opinions, beliefs, attitudes and behaviors.They influence how consumers interpret information and make purchasing decisions.
Maslow's Hierarchy of Needs
(level 1) Physiological Needs, (level 2) Safety and Security, (level 3) Relationships, Love and Affection, (level 4) Self Esteem, (level 5) Self Actualization
Method of classifying humans needs and motivations into five levels.
Mkt strategy differs based on level of involvement. How?
Cultural influence affects consumer decision making. How?
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