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Ch. 5-Final Consumers & Their Buying Behavior
N/A
35
Marketing
Undergraduate 3
09/27/2017

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Term
Economic Buyers
Definition
People who know all the facts and logically compare choices to get the greatest satisfaction from spending their time and money.
Term
Economic Needs
Definition
Needs concerned with making the best use of a consumer's time and money-as the consumer judges it.
Term
Discretionary Income
Definition
What is left of disposable income after paying for necessities.
Term
Needs
Definition
The basic forces that motivate a person to do something.
Term
Wants
Definition
Needs that are learned during a person's life.
Term
Drive
Definition
A strong stimulus that encourages action to reduce a need.
Term
Physiological Needs
Definition
Biological needs such as the need for food, drink, and rest.
Term
Safety Needs
Definition
Needs concerned with protection and physical well-being.
Term
Social Needs
Definition
Needs concerned with love, friendship, status, and esteem-things that involve a person's interaction with others.
Term
Personal Needs
Definition
An individual's need for personal satisfaction unrelated to what others think or do.
Term
Perception
Definition
How we gather and interpret information from the world around us.
Term
Selective Exposure
Definition
Our eyes and minds seek out and notice only information that interests us.
Term
Selective Perception
Definition
People screen out or modify ideas, messages, and information that conflict with previously learned attitudes and beliefs.
Term
Selective Retention
Definition
People remember only what they want to remember.
Term
Learning
Definition
A change in a person's though processes caused by prior experience.
Term
Cues
Definition
Products, signs, ads, and other stimuli in the environment.
Term
Response
Definition
An effort to satisfy a drive.
Term
Reinforcement
Definition
Occurs in the learning process when the consumer's response is followed by satisfaction-that is, reduction in the drive.
Term
Attitude
Definition
A person's point of view towards something.
Term
Belief
Definition
A person's opinion about something.
Term
Expectation
Definition
An outcome or event that a person anticipates or looks forward to.
Term
Trust
Definition
The confidence a person has in the promises or actions of another person, brand, or company.
Term
Psychographics
Definition
The analysis of a person's day-to-day pattern of living as expressed in the person's activities, interests, and opinions-sometimes referred to as AIOs or lifestyle analysis.
Term
Lifestyle Analysis
Definition
The analysis of a person's day-to-day pattern of living as expressed in that person's activities, interests, and opinions-sometimes referred to as AIOs or psychographics.
Term
Empty Nesters
Definition
People whose children are grown and who are now able to spend their money in other ways.
Term
Social Class
Definition
A group of people who have approximately equal social position as viewed by others in the society.
Term
Reference Group
Definition
The people to whom an individual looks when forming attitudes about a particular topic.
Term
Opinion Leader
Definition
A person who influences others.
Term
Culture
Definition
The whole set of beliefs, attitudes, and ways of doing things of a reasonably homogeneous set of people.
Term
Extensive Problem Solving
Definition
The type of problem solving consumers use for a completely new or important need-when they put much effort into deciding how to satisfy it.
Term
Limited Problem Solving
Definition
When a consumer is willing to put some effort into deciding the best way to satisfy a need.
Term
Routinized Response Behavior
Definition
When consumers regularly select a particular way of satisfying a need when it occurs.
Term
Low-Involvement Purchases
Definition
Purchases that have little importance or relevance for the customer.
Term
Dissonance
Definition
Tension caused by uncertainty about the rightness of a decision.
Term
Adoption Process
Definition
The steps individuals go through on the way to accepting or rejecting a new idea.
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