Term
| What is consumer behavior? |
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Definition
| The behavior that consumers display in searching for, purchasing, using, and evaluating, and disposing of products and services that they expect will satisfy their needs. |
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Term
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Definition
Personal consumers (for personal use)
Organizational consumers (for business use) |
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Term
| 3 Philosophic Different Business Orientations |
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Definition
1. Production orientation
2. Sales orientation
3. Marketing orientation |
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Term
| What is the marketing concept? |
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Definition
In order to be successful, a company must determine the needs and wants of specific target markets and deliever the desired goods better than the competition.
"Being better than the competition." |
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Term
| Societal Marketing Concept |
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Definition
Modification of the marketing concept that suggests that consumers occasionally respond to their immediate needs/wants while overlooking long term effects
Ex: Hairspray |
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Term
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Definition
| the process and tools used to study consumer behavior |
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Term
| 3 Elements of the Strategic Framework |
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Definition
1. market segmentation
2. market targeting
3. positioning |
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Term
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Definition
1. product
2. price
3. place
4. promotion |
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Term
| What creates successful relationships b/t marketers and customers? |
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Definition
1. customer value
2. customer satisfaction
3. customer trust |
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Term
| Who are more expensive: existing customers or new customers? |
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Definition
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Term
| Depths of customer retention |
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Definition
1. selective relationship
2. customer profitability (focused marketing) |
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Term
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Definition
1. platinum
2. gold
3. iron
4. lead |
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Term
| impact of new technologies on market stratagies |
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Definition
-consumers have more power
-consumers ahve more access to info
-marketers can and must offer more services/products
-marketers can gather more info about customers (quick and easy)
-impact beyond the PC-Connection of the web
-mobile consuming |
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Term
| the model of decision making consists of what stages? |
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Definition
1. input stage (influences the consumers recognition of a product need)
2. process stage (focuses on how consumers make a decision)
3. output stage (closely related to past-decision activities, purchase behaivor, and post purchase evaluations) |
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Term
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Definition
-to find out what makes consumers tick
-to find out how marketers can better understand consumers wants and needs
-understand the consumer decision making process
-how to execute cross cultural or regional consumer research to meet global expansion |
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Term
| 2 types of primary research |
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Definition
qualitative (focus groups, depth interviews)
quantitative (observations, experimentations, survey research) |
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Term
| 6 steps for the consumer research process |
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Definition
1. define objectives
2. collect and evaluate secondary data
3. design primary research
4. collect primary data
5.analyze data
6. prepare the reports and findings |
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Term
| What is the first and most difficult step the research process? |
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Definition
| To accurately define the objective of the research |
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Term
| research objectives are to... |
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Definition
-find out consumers attitudes about a certain brand
-helps to define the type and level of info needed
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Term
| Product extensions or future campaigns are what type of research? |
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Definition
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Term
| How many consumers are using a product? How often? is what type of research? |
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Definition
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Term
| What is secondary research? |
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Definition
| Already existing info that has been gathered for the purpose other than the product research |
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Term
| Where can you get secondary research? |
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Definition
-internal- collected in-house for the purpose other than the current research
-external- comes from sources outside of the firm |
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Term
| advantages of secondary research |
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Definition
-less time
-free
-can fix mistakes |
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Term
| disadvantages of secondary research |
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Definition
-may not be credible
-maybe out dated
-not what your looking for
-research may have been done wrong |
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Term
| What is primary research? |
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Definition
| new research collected for purposes of a current research problem |
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Term
| What are the two categories of primary research? |
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Definition
quantative (when description info is sought)
qualitative (depth interviews, one on one interviews; purpose is to get new ideas: reposition or position) |
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Term
| Used by researchers to better understand the acceptance of various products or specific brands |
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Definition
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Term
| physiological observation |
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Definition
| devices that monitor respondents patterns of info processing |
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Term
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Definition
| uses mechanical or electronic devices to record customer behavior or response to market stimuli |
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Term
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Definition
| only the test the product in a single market |
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Term
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Definition
| includes a variety of components including personal interviews, survey, phone, mail, email |
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Term
True/ false?
Marketers often use a combo of qualitative and quantitative. |
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Definition
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Term
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Definition
1. likert
2. semantic differential
3. behavioral intention
4. rank-order |
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Term
| Most popular form of attitude scale |
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Definition
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Term
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Definition
-relatively easy
-consists of polar opposites
-checking on the continum that best reflects their feelings |
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Term
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Definition
| measures the likelihood that consumers will act in a certain way in the future such as buying a product or recommending it to a friend |
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Term
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Definition
| Ranking items in order in which they prefer |
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Term
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Definition
| A subset of the population that is used to estimate the characteristics of the entire population. |
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Term
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Definition
probability sample- respondents are selected in such a way that each member of the population has a nonzero chance
non-probability-the population under study has been predetermined in a nonrandom fashion |
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