chapter 18

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kelc0104
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chapter 18
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2013-12-14 17:01:50
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  1. post-purchase dissonance
    when a consumer has doubts regarding a purchase made. a function of (1) the degree of commitment to the decision (2) the importance of the decision to consumers (3) the difficulty of choosing among consumers (4) the individuals tendency to experience anxiety
  2. to reduce dissonance, a consumer can
    increase the desirability of the brand purchased, Decrease the desirability of rejected alternatives, Decrease the importance of the purchase decision, Reverse the purchase decision (return)
  3. consumption guilt
    When negative emotions are aroused by the use of a product or service, markets validate the consumption for high guilt products
  4. product use
    the use of one product may require or suggest the use of other products; retailers can promote such items as (1) jointly, (2) display them together (3) train sales personnel to make relevant complimentary sales
  5. Stringent product liability laws
    made firms responsible for harm caused by products not only when the product is used as specified by the manufacturer, but in any reasonably foreseeable use of the products.
  6. the evaluation process
    satisfied or dissatisfied based on instrumental performance, symbolic performance, or affective performance
  7. Firms need to satisfy consumer expectations by
    • Creating reasonable expectations through
    • promotional efforts, and Maintaining consistent quality so the reasonable expectations are fulfilled.
  8. repeat purchases
    continue to buy the same brand though they do not have an emotional attachment to it
  9. switching costs
    the costs of finding, evaluating, and adopting another solution.
  10. brand loyalty
    commitment to the brand – it is a biased behavioral response expressed over time.
  11. Net Promoter Score
    indirect word-of-mouth (WOM) measure of true attitudinal loyalty. There are three categories of consumers: promoters, passively satisfied and Detractors. NPS = Promoters minus Detractors
  12. churn
    Turnover in a firm's customer base
  13. marketing strategy
    Attracting new users to the product category, Capturing competitors’ current customers, Encouraging current customers to use more, be repeat purchasers, and committed customers
  14. relationship marketing
    • Developing a core product
    • to build a customer relationship around , Customizing the relationship to the individual customer, Augmenting the core service or product with extra benefits, Pricing in a manner to encourage loyalty, Marketing to employees so that they will perform well for customers
  15. use innovativeness
    A consumer using a product in a new way
  16. product non-use
    Occurs when a consumer actively acquires a product that is not used or used only sparingly relative to its potential use

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