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Marketing 309
Chapter 5
47
Marketing
Undergraduate 3
02/05/2013

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Term
Affective Component
Definition
a component of attitude that reflects what person feels about the issue at hand. his or her like or dislike something
Term
Attitude
Definition
A person's enduring evaluation of his or her feelings about the behavioral tendencies toward an object or idea. Three components, cognitive, affective, and behavioral.
Term
Behavioral Component
Definition
A component of attitude that comprises the actions a person takes with regard to the issue at hand.
Term
Cognitive Component
Definition
A component of attitude that reflects what a person believes to be true.
Term
Compensatory Decision Rule
Definition
At work when the consumer is evaluating alternatives and trades off one characteristic against another, such that good characteristics compensate for bad ones.
Term
Consumer Decision Rules
Definition
the set of criteria that consumers use consciously or subconsciously to quickly and efficiently select from among several alternatives.
Term
Conversion Rate
Definition
percentage of consumers who buy a product after viewing it.
Term
Culutre
Definition
the set of values, guiding beliefs, understandings, and ways of doing things shared by members of a society.
Term
Decision Heuristics
Definition
Mental shortcuts that help consumers barrow down choices. Examples include price, brand, and product presentation.
Term
Determinant Attributes
Definition
Product or service features that are important to buyer and on which competing brands or stores are perceived to differ.
Term
Esteem Needs
Definition
Needs that enable people to fulfill inner desires.
Term
Evaluative Criteria
Definition
Consist of a set of salient, or important, attributes about a particular product.
Term
Evoked Set
Definition
Comprises the alternative brands or stores that the consumer states he or she would consider when making a purchase.
Term
Extended Problem Solving
Definition
A purchase decision process during which the consumer devotes considerable time and effort to analyzing alternatives . Often occurs when the consumer perceives that the purchase decision entails a lot of risk.
Term
External locus of control
Definition
Refers to when consumers believe that fate or other external factors control all outcomes.
Term
External search for information
Definition
Occurs when the buyer seeks information outside his or her personal knowledge base to help make the buying decision.
Term
Financial Risk
Definition
Risk associated with a monetary outlay. Includes the initial cost of purchase as well as the costs of using the item or service.
Term
Functional Needs
Definition
Pertain to the performance of a product or service.
Term
Habitual Decision Making
Definition
A purchase decision process in which consumers engage with little conscious effort.
Term
Impulse buying
Definition
A buying decision made by customers on the spot when they see the merchandise
Term
internal locus of control
Definition
Refers to when consumers believe they have some control over the outcomes of their actions. In which case they generally engage in more search activities.
Term
internal search of information
Definition
Occurs when the buyer examines his or her own memory and knowledge about the product or service, gathered through past experiences.
Term
involvement
Definition
Consumer's interest in a product or service.
Term
learning
Definition
Refers to a change in a person's thought process or behavior that arises from experience and takes place throughout the consumer decisions process.
Term
lifestyle
Definition
A component of psychographics. Refers to the way a person lives his or her life to achieve goals.
Term
limited problem solving
Definition
Occurs during a purchase decision that calls for, at most, a moderate amount of effort and time.
Term
love needs
Definition
Needs expressed through interactions with others.
Term
Maslow's Hierarchy of Needs
Definition
A paradigm for classifying people's motives. It argues that when lower-level, more basic needs are fulfilled, people turn to satisfying their higher-level human needs.
Term
motive
Definition
A need or want that is strong enough to cause the person to seek satisfaction.
Term
multi-attribute model
Definition
A compensatory model of customer decision making based on the notion that customers see a product as a collection of attributes or characteristics. The model uses a weighted average score based on the importance of various attributes and performance on those issues.
Term
need recognition
Definition
The beginning of the consumer decision process. Occurs when the consumers recognize they have an unsatisfied need and want to go from their actual, needy state to a different, desired state.
Term
noncompensatory decision rule
Definition
At work when consumers choose a product or service on the basis of a subset of its characteristics, regardless of the values of its other attributes.
Term
perception
Definition
The process by which people select, organize, and interpret information to form a meaningful picture of the world.
Term
performance risk
Definition
Involves the perceived danger inherent in a poorly performing product or service.
Term
physiological need
Definition
Those relating to the basic biological necessities of life
Term
physiological risk
Definition
The fear of an actual harm should a product not perform properly.
Term
postpurchase cognitive dissonance
Definition
The psychologically uncomfortable state produced by an inconsistency between beliefs and behaviors that in turn evokes a motivation to reduce the dissonance
Term
psychological needs
Definition
Pertain to the personal gratification consumers associate with a product or service
Term
psychological risk
Definition
Associated with the way people will feel if the product or service does not convey the right image.
Term
reference group
Definition
One or more persons whom an individual uses as a basis for comparison regarding beliefs, feelings, and behaviors.
Term
retrieval sets
Definition
Includes those brands or stores that the consumer can readily bring forth from memory.
Term
safety needs
Definition
One of the needs in the PSSP hierarchy of needs. Pertain to protection and physical well-being.
Term
safety risk
Definition
Associated with the way people will feel if the product or service does not convey the right image.
Term
self-actualization
Definition
when a person is completely satisfied with his or her life.
Term
situational factors
Definition
Factors affecting the consumer decision process. Those that are specific to the situation that may override, or at least influence, psychological and social issues.
Term
social risk
Definition
The fears that consumers suffer when they worry others might not regard their purchases positively
Term
universal sets
Definition
Includes all possible choices for a product category.
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