Marketing Test Two

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Author:
cmkindrick
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41157
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Marketing Test Two
Updated:
2010-10-10 18:26:47
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Marketing key terms
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Key terms
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  1. Attitude
    A learned predisposition to respond to an object or class of objects in a favorable or unfavorable way
  2. Beliefs
    a consumers subjective perception of how a product or brand performs on different attributes
  3. Brand loyalty
    a favorable attitude toward and consistent purchase of a single brand over time
  4. Cognitive dissonance
    the feeling of post purchase psychological tension or anxiety
  5. Consumer behavior
    The actions a person takes in purchasing and using products and services including the mental and processes that come before and after these actions
  6. Consideration set
    the group of brands that a consumer would consider acceptable from among all the brands of which he or she is aware of in the product class
  7. Consumer socialization
    The process by which people acquire skills knowledge and attitudes necessary to function as consumers
  8. Evaluative criteria
    Both the objective attributes of a brand such as display and the subjective ones as prestige you use to compare different products and brands
  9. Family cycle concept
    Describes the distinct phases that a family progresses through from formation to retirement each phase bringing with it identifiable purchasing behaviors
  10. Involvement
    The personal social and economic significance of the purchase to the consumer
  11. Learning
    Those behaviors that result from repeated expierence and reasoning
  12. Life style
    A mode of living that is identified by how people spend their time and resources, what they consider important in their enviorment and what they think of themselves and the world around them
  13. Motivation
    The energizing force that stimulates behavior to satisfy a need
  14. Opinion leaders
    Individuals who exert direct or indirect social influence over others
  15. Perceived risk
    Represents the anxiety felt because the consumers cannot anticipate the outcome of a purchase
  16. Perception
    The process by which an individual selects organizes and interprets information to create a meaningful of the world
  17. Personality
    refers to a person consistent behaviors or responses to recurring situations
  18. Purchase decision process
    • The process has five stages
    • 1. problem recognition
    • 2. information search
    • 3. alternative evaluation
    • 4. purchase decision
    • 5. post purchase behavior
    • definition - the stages a buyer passes through in making choices about which product or service to buy
  19. Reference groups
    People to whom an individual looks as a basis for self appraisal or as a source of personal standards
  20. Self concept
    The way people see themselves and the way they believe others see them
  21. Situational Influences
    • Have an impact on the purchase decision making process
    • 1. purchase task
    • 2. social surroundings
    • 3. physical surroundings
    • 4. temporal effects
    • 5. antecedent states
  22. Social class
    the relatively permanent homogenous divisions in a society into which people sharing similar values interests and behaviors can be grouped
  23. Subcultures
    • sub groups within the larger national culture with unique values ideas and attitudes
    • Hispanics
    • African americans
    • asian americans
  24. Subliminal perception
    see or hear messages without being aware of them
  25. Word of mouth
    influencing people during conversation
  26. 80/20 rule
    concept that suggests 80 percent of firm sales are obtained from 20 percent of consumers
  27. Market product grid
    Frame work to relate the market segments of potential buyers to products or potential marketing actions by an organization
  28. Market segmentation
    involves aggregative prospective buyers in to groups that have common needs and will respond similarly to marketing actions
  29. Market segments
    are relatively homogenous groups of prospective buyers that result from the market segmentation process
  30. Perceptual map
    a means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how a consumer perceives competing products or brands as well as it's own
  31. Product differentiation
    Involves a firm using different marketing mix activities to help consumers perceive the product as being different and better than competing products
  32. Product positioning
    refers to the place a product occupies in consumers minds on important attributes relative to competitive products
  33. Product repositioning
    changing the place a product occupies a consumers mind relative to competitive products
  34. Usage rate
    the quantity consumer or patronage - store visits - during a specific period

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