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Marketing Q4
| Question | Answer |
|---|---|
| The set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other separate institutions. | Culture |
| A group of people with shared value systems based on common life experiences and situations. | Subculture |
| Relatively permanent and ordered divisions in a society whose members share similar values, interests, and behaviors. | Social class |
| Two or more people who interact to accomplish individual or mutual goals. | Social class |
| A person within a reference group who, because of special skills, knowledge, personality, or other characteristics, exerts social influence over others. | Opinion leader |
| Online social communities-blogs, social networking web sites, or even virtual worlds-where people socialize or exchange information and opinions. | Online social networks |
| A person's pattern of living as expressed in his or her activities, interests, and opinions. | Lifestyle |
| The unique psychological characteristics that distinguish a person or group. | Personality |
| A need that is sufficiently pressing to direct the person to seek satisfaction of the need. | Motive (drive) |
| The process by which people select, organize, and interpret information to form a meaningful picture of the world. | Perception |
| Changes in an individual's behavior arising from experience. | Learning |
| A descriptive thought that a person holds about something. | Belief |
| A person's consistently favorable or unfavorable evaluations, feelings, and tendencies toward an object or idea. | Attitude |
| Consumer buying behavior in situations characterized by high consumer involvement in a purchase and significant perceived differences among brands. | Complex buying behavior |
| Consumer buying behavior in situations characterized by high involvement but few perceived differences among brands. | Dissonance-reducing buying behavior. |
| Consumer buying behavior in situations characterized by low-consumer involvement and few significantly perceived brand differences. | Habitual buying behavior |
| Consumer buying behavior in situations characterized by low consumer involvement but significantly perceived brand of differences. | Variety-seeking buying behavior |
| The first stage of the buyer decision process, in which the consumer recognizes a problem or need. | Need recognition |
| The stage of a buyer decision process in which the consumer is aroused to search for more information; the consumer may simply have heightened attention or may go into an active information search. | Information search |
| The stage of the buyer decision process in which the consumer uses information to evaluate alternative brands in the choice set. | Alternative evaluation |
| The buyer's decision on which brand to purchase. | Purchase decision |
| The stage of the buyer decision process in which consumers take further action after purchase based on their satisfaction or dissatisfaction with the purchase. | Postpurchase behavior |
| Buyer discomfort caused by postpurchase conflict. | Cognitive dissonance |
| A good, service, or idea that is perceived by some potential customers as new. | New product |
| The mental process through which an individual passes from first hearing about in innovation to final adoption. | Adoption process |
| The buying behavior of organizations that buy goods and services for use in the production of other products and services that are sold, rented, or supplied to others. | Business buying behavior |
| The decision process by which business buyers determine which products and services their organization needs to purchase and then find, evaluate, and choose among alternative suppliers and brands. | Business buying process |
| Business demand that ultimately comes from the demand from consumer goods. | Derived demand |
| 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. | Supplier development |
| A business buying situation in which the buyer routinely reorders something without any modifications. | Straight rebuy |
| A business buying situation in which the buyer wants to modify the product specifications, prices, terms, or suppliers. | Modified rebuy |
| A business buying situation in which the buyer purchases the product or service for the first time. | New task |
| Buying a packaged solution to a problem from a single seller, thus avoiding the separate decisions involved in a complex buying situation. | Systems selling (Solutions selling) |
| All the individuals and units that play a role in the purchase decision-making process. | Buying center |
| Members of the buying organization who will actually use the purchased product or service. | Users |
| People in organization's buying center who affect the buying decision; they often help define specifications and also provide information for evaluating alternatives. | Influencers |
| People in an organization's buying center who make an actual purchase. | Buyers |
| People in an organization's buying center who have formal or informal power to select or approve the final suppliers. | Deciders |
| People in an organization's buying center who control the flow of information to others. | Gatekeepers |
| The first stage of of the business buying process in which someone in the company recognizes a problem or need that can be met by acquiring a good or service. | Problem recognition |
| The stage in the business buying process in which a buyer describes the general characteristics and quantity of a needed item. | General need description |
| The stage of the business buying process in which the buying organization decides on and specifies the best technical product characteristics for a needed item. | Product specification |
| The stage of the business buying process in which the buyer tries to find the best vendors. | Supplier search |
| The stage of the business buying process in which the buyer invites qualified suppliers to submit proposals. | Proposal solicitation |
| The stage of the business buying process in which the buyer reviews proposals and selects a supplier or suppliers. | Supplier selection |
| The stage of the business buying process in which the buyer writes the final order with the chosen suppliers, listing the technical specifications, quantity needed, expected time of delivery, return policies, and warranties. | Order-routine specification |
| The stage of the business buying process in which the buyer assesses the performance of the supplier and decides to continue, modify, or drop the arrangement. | Performance review |
| Purchasing through electronic connections between buyers and sellers--usually online. | E-procurement. |
| Schools, hospitals, nursing homes, prisons, and other institutions that provide goods and services to people in their care. | Institutional market |
| Governmental units-federal, stage, and local-that purchase or rent goods and services for carrying out the main functions of the government. | Government market |
| Dividing a market into smaller segments with distinct needs, characteristics, or behavior that might require separate marketing strategies or mixes. | Marketing segmentation |
| The process of evaluating each market segment's attractiveness and selecting one or more segments to enter. | Market target |
| Differentiating the marketing offer to create superior customer value. | Differentiation |
| Arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. | Positioning |
| Dividing a market into different geographical units, such as nations, states, regions, counties, cities, or even neighborhoods. | Geographic segmentation |
| Dividing the market into segments based on variables such as age, gender, family life cycle, income, occupation, education, race, religion, generation, and nationality. | Demographic segmentation |
| Age and life-cycle segmentation | Dividing a market into different age and life cycle groups. |
| Dividing a market into different segments based on gender. | Gender segmentation |
| Dividing a market into different income segments | Income segmentation |
| Dividing a market into different segments based on social class, lifestyle, or personality characteristics. | Psychographic segmentation |
| Dividing a market into segments based on consumer knowledge, attitudes, uses, or responses to a product. | Behavioral segmentation |
| Dividing the market into segments according to occasions when buyers get the idea to buy, actually make their purchase, or use the purchased item. | Occasion segmentation |
| Dividing the market into segments according to the different benefits that consumers seek from the product. | Benefit segmentation |
| Forming segments of consumers who have similar needs and buying behavior even though they are located in different countries. | Intermarket segmentation (cross-market segmentation) |
| A set of buyers sharing common needs or characteristics that the company decides to serve. | Target market |
| A market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer. | Undifferentiated (mass) marketing |
| A market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each. | Differentiated (segmented) marketing |
| A market-coverage strategy in which a firm goes after a large share of one or a few segments or niches. | Concentrated (niche) marketing |
| Tailoring products and marketing programs to the needs and wants of specific individuals and local customer segments; it includes local marketing and individual marketing. | Micromarketing |
| Tailoring brands and promotions to the needs and wants of local customer segments-cities, neighborhoods, and even specific stores. | Local marketing |
| Tailoring products and marketing programs to the needs and preferences of individual customers-also called one-to-one marketing, customize marketing, and markets-of-one marketing. | Individual marketing |
| The way a product is defined by consumers on important attributes-the places the product occupies in consumers' minds relative to competing products. | Product position |
| An advantage over competitors gained by offering greater customer value, either by lower prices or providing more benefits that justify higher prices. | Competitive advantage |
| The full positioning of a brand-the full mix of benefits on which it is positioned. | Value proposition |
| A statement that summarizes company or brand positioning. | Positioning statement |
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