Term
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Definition
| Consumers who know all the facts and logically compare choices to get the greatest satisfaction from spending their time and money. |
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Term
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Definition
| Making the best use of a consumer's time and money - as the consumer judges it. |
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Term
| What is economic-buyer theory? |
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Definition
| Consumers decide what to buy based on economic needs. |
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Term
| What are some economic needs? |
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Definition
| Economy of purchase or use, Efficiency in operation or use, Dependability in use, Improvement of earnings, Convenience. |
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Term
| What are different categories of consumer behavior that impact buying decisions? |
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Definition
| Economic needs, Psychological variables, Social influences, and Purchase situation. |
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Term
| What are some psychological variables that impact consumer behavior? |
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Definition
| Motivation, Perception, Learning, Attitude, Trust, Lifestyle. |
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Term
| What are social influences that impact consumer behavior? |
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Definition
| Family, Social Class, Reference groups, Culture, and Ethnic groups |
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Term
| What are purchase situations that impact consumer behavior? |
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Definition
| Purchase reason, Time, Surroundings |
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Term
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Definition
| What is left of income after paying taxes and necessities. |
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Term
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Definition
| Basic forces that motivate a person to do something. |
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Term
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Definition
| "Needs" that are learned during a person's life. |
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Term
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Definition
| A strong stimulus that encourages action to reduce a need. |
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Term
| What are the four levels in the hierarchy of needs? |
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Definition
| Physiological needs, Safety needs, Social needs, Personal needs. |
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Term
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Definition
| Concerned with biological needs - food, liquid, rest, and sex. |
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Term
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Definition
| Concerned with protection and physical well-being (perhaps involving health, financial security, medicine, and exercise). |
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Term
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Definition
| Concerned with love, friendship, status, and esteem - things that involve a person's interaction with others. |
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Term
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Definition
Concerned with an individual's need for personal satisfaction - unrelated to what others think or do.
Examples include accomplishment, fun, freedom, and relaxation - as well as desire to make the world a better place. |
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Term
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Definition
| How we gather and interpret information from the world around us. |
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Term
| What are the different selective processes for perceiving the world around us? |
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Definition
| Selective exposure, Selective perception, Selective retention. |
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Term
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Definition
| Seek out and notice only information that interests us. |
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Term
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Definition
| Screen out or modify ideas, messages, and information that conflict with previously learned attitudes and beliefs. |
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Term
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Definition
| Remember only what we want to remember. |
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Term
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Definition
| Change in a person's thought process caused by prior experience. |
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Term
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Definition
| Products, signs, ads, and other stimuli in the environment that elicit a response. |
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Term
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Definition
| An effort to satisfy a drive. |
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Term
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Definition
| When a response is followed by satisfaction - reduction in a drive. Reinforcement strengthens the relationship between the cue and the response. |
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Term
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Definition
| A person's point of view toward something. |
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Term
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Definition
| A person's opinion about something. |
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Term
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Definition
| An outcome or event that a person anticipates or looks forward to. |
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Term
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Definition
| Confidence a person has in the promises of actions of another person, brand, or company. |
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Term
| Psychographics (or lifestyle analysis) |
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Definition
| Analysis of a person's day-to-day pattern of living as expressed in that person's Activities, Interests, and Opinions (AIOs). |
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Term
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Definition
| People whose children are grown and who are now able to spend their money in other ways. |
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Term
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Definition
| A group of people who have approximately equal social position as viewed by others in the society. |
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Term
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Definition
| People to whom an individual looks when forming attitudes about a particular topic. |
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Term
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Definition
| Person who influences others. |
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Term
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Definition
| The whole set of beliefs, attitudes, and ways of doing things of a reasonably homogeneous set of people. |
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Term
| What are the steps in the consumer decision process? |
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Definition
| Identify need, problem solve, make purchase decision. |
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Term
| What are the basic problem-solving steps a consomer may go through to satisfy a need? |
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Definition
| Search for information, Identify alternatives, Set Criteria, Evaluate alternatives. |
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Term
| Low-Involvement Purchases |
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Definition
| Purchases that have little importance or relevance for the customer. |
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Term
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Definition
| A feeling of uncertainty about whether the correct decision was made. |
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Term
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Definition
| The steps individuals go through on the way to accepting or rejecting a new idea. |
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Term
| What are the steps of the adoption process? |
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Definition
| Awareness, Interest, Evaluation, Trial, Decision, Confirmation. |
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