Term
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Definition
| Processes a consumer uses to make purchase decisions, as well as to use and dispose of purchaed goods or services; also includes factors that influence purchase decisions and product use |
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Term
| Consumer Decision-Making process |
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Definition
| a five step process used by consumers when buying goods or services |
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Term
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Definition
| Result of an imbalance between actual and desired states |
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Term
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Definition
| Any unit of input affecting one or more of the fice senses: sight, smell, taste, touch, and hearing |
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Term
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Definition
| Recognition of an unfulfilled need and and product that will satisfy it |
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Term
| Internal information search |
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Definition
| the process of recalling past information stored in teh memory |
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Term
| External information search |
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Definition
| the process of seeking information int eh outside environment |
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Term
| nonmarketing-controlled information source |
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Definition
| a product information source that is not associated with advertising or promotion |
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Term
| Marketing-controlled information source |
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Definition
| A product information source that originates with markters promoting the product |
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Term
| evoked set (consideration set) |
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Definition
| a group of brands, resulting from an information search, from which a buyer can choose |
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Term
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Definition
| inner tension that a consumer experiences after recognizing an inconsistency between behavior and values or opinions |
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Term
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Definition
| the amount of time and effort a buyer invests in the search, evaluation, and decision proceses of consumer behavior |
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Term
| routine response behavior |
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Definition
| the type of decision making exhibited by consumers buying frequently purchased, low cost goods and services; requires little search and decision time |
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Term
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Definition
| the type of decision making that requires a moderate amount of time for gathering information and deliberating about an unfamiliar brand in a familiar product category |
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Term
| Extensive decision making |
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Definition
| the most complex type fo consumer decision making, used when buying an unfamiliar, expensive product or an infrequently bought item; requries use of several criteria for evaluating options and much time for seeking information |
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Term
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Definition
| the set of values, norms, attitudes, and other meaningful symbols that shape human behavior and the artifacts, or products of that behavior as they are transmitted from one generation to the next |
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Term
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Definition
| the enduring belief that a specific mode of conduct is personally or socially preferable to another mode of conduct |
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Term
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Definition
| a homogeneous group of people who share elements of overall culture as well as unique elements of their own group |
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Term
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Definition
| a grup of people in society who are considered nearly equal in statues or community esteem, who regularly socialize among themselves, both formally and informally, and who share behavioral norms |
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Term
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Definition
| a group in society that influences an individuals purchasing behavior |
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Term
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Definition
| an individual who influences the opinions of others |
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Term
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Definition
| how cultural values and norms are passed down to children |
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Term
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Definition
| a way of organizing and grouping the consistencies of an individual's reactions to situations |
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Term
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Definition
| how consumers perceive themselves in terms of attitudes, perceptions, beliefs, and self-evaluations |
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Term
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Definition
| they way an individual would like to be |
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Term
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Definition
| the way an individual actually perceivs himself or herself |
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Term
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Definition
| a mode of living as identified by a persons's activities, interests, and opinions |
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Term
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Definition
| the process by which people select, organize, and interpret stimuli into a meaningful and coherent picutre |
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Term
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Definition
| the process whereby a consumer notices certian stimuli and ignores others |
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Term
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Definition
| a process whereby a consumer changes or distorts information that conflicts with his or her fellings or beliefs |
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Term
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Definition
| a process whreby a consumer remembers only that information that supports his or her personal beliefs |
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Term
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Definition
| a driving force that causes a person to take action to satisfy specific needs |
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Term
| Maslow's hierarchy of needs |
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Definition
| a method of classifying human needs and motivations into five categories in ascending order of importance: physiological, safety, social, esteem, and self-actualization |
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Term
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Definition
| a process that creates changes in behavior, immediate or expected, through experience and practive |
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Term
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Definition
| an organized pattern of knolwedge that an individual holds as true about his or her world |
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Term
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Definition
| a learned tendency to respond consistently toward a given object |
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Term
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Definition
| the marketing of goods and servies to individuals and organizations for purposes other than personal consumption |
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Term
| business-to-business electronic commerce |
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Definition
| the ue of the internet to faciliate the exchage of goods, services, and information between ogranizations |
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Term
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Definition
| a measure of a web site's effectiveness; calculated by multiplying the frequency of visits times the duration of a visit times the number of pages viewd during each visit (site reach) |
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Term
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Definition
| the elimination of intermediaries such as wholesalers or distributers from a marketing channel |
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Term
| Strategic alliance (strategic partnership) |
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Definition
| a cooperative agreement between business firms |
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Term
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Definition
| a firm's belief that an ongoing relationshp with another firm is so important that the relationship warrants maximum efforst at maintaining it indefinitely |
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Term
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Definition
| tthe condition that exists when one party has confidence in an exchage partner's reliabilit and integrity |
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Term
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Definition
| a network of interlocking coroporate affiliates |
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Term
| Original equipment manufacturers (OEMs) |
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Definition
| individuals and organizations that buy business goods and incorporte them into the products that they produce for eventual sale to other producers or to consumers |
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Term
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Definition
| the demand for business products |
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Term
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Definition
| the demand for 2 or more items used together in a final product |
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Term
| multiplier effect (accelerator principle) |
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Definition
| phenomenon in which a small increase or decrease in consumer demand can produce a much larger change in demand for the facilities and equipment needed to make the consumer product |
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Term
| North American industry Classification Systems (NAICS) |
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Definition
| A detailed numbering system developed by the United States, Canada, and Mexico to classify North American business establishments by thir main production processes. |
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Term
| business-to-business online exchange |
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Definition
| an electronic trading floor that provides companies with integrated links to their customers and suppliers |
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Term
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Definition
| a practice where business purcahsers choose to buy from their own customers |
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Term
| Major Equipment (installations) |
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Definition
| capital goods such as large or expensive machines, mainframe conputers, blast furances, generators, air planes, and buildings |
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Term
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Definition
| goods, such as protable toosl and office equipment, that are less expensive and shorter lived than major equipment |
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Term
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Definition
| unprocessed extractive or agricultural products, such as mineral ore, lumber, wheat, corn, fruits, vegetables, and fish |
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Term
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Definition
| either finished itmes ready for assembly or products that need very little processing before becoming part of some other product |
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Term
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Definition
| products used directly in manufacturing other products |
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Term
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Definition
| consumable items that do not become part of the final product |
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Term
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Definition
| expense items that do not become part of the final product |
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Term
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Definition
| all those people in an organization who become involved in the purchase decision |
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Term
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Definition
| a situation requiring the purchase of a product for the first time |
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Term
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Definition
| a situation where the purchaser wants some change in the original good or service |
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Term
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Definition
| a situation in which the purchaser reorders the same goods or services without looking for new information or investigating other suppliers |
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Term
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Definition
| people or organizations with needs or wants and the ability and willingness to buy |
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Term
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Definition
| a subgroup of people or organizations sharing one or more charcteristics that cause them to have similar product needs |
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Term
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Definition
| the proces of dividing a market into meaningful, relatively similar, and identifiable segments or groups |
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Term
| Segmentation bases (variables) |
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Definition
| characteristics of individuals, groups, or organizations |
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Term
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Definition
| segmenting markets by region of a country or the world, market size, market density, or climate |
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Term
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Definition
| segmenting markets by age, gender, income, ethnic background, and family life cycle |
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Term
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Definition
| a series of stages determined by a combination of age, marital status, and the presense of absence of children |
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Term
| Psychographic segmentation |
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Definition
| market segmentation on the basis of personality, motives, lifestyles, and geodemographics |
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Term
| Geodemographic segmentation |
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Definition
| segmenting potential customers into neighborhood lifestyle categories |
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Term
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Definition
| the process of grouping customers into market segments according to the benefits they seek from the product |
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Term
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Definition
| dividing a market by the amount of product bought or consumed |
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Term
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Definition
| a principle holding that 20 percent of all customers generate 80 percent of the demand |
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Term
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Definition
| bsuienss customers who palce an order with the first familiar supplier to satisfy product and delivery requiremetns |
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Term
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Definition
| business customer who consider numerous suppliers, both familiar and unfamiliar, solicit bids, and study all proposals carefully before selecting one |
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Term
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Definition
| a group of people or organiztions for which an organization designs, implement,s and maintains a marketin mix intended to meet the needs of that group, resuliting in mutually satsifying exchanges |
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Term
| undifferentiated targeting startegy |
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Definition
| a marketing approach that views the market as one big market with no individual segments and thus uses a single marketing mix |
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Term
| Concentrated targeting startegy |
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Definition
| a strategy used to select one segment of a market for targeting marketing efforts |
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Term
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Definition
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Term
| multisegment targeting startegy |
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Definition
| a strategy that chooses two or more well-defined market segments and develops a distinct marketing mix for each |
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Term
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Definition
| a situation that occurs when sales of a new product cut into sales of a firms's existing products |
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Term
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Definition
| an individualized marketing method that utilizes customer informatin to buld long-term, personalized, and profitable relationships with each customer |
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Term
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Definition
| develping a specific marketing mix to influence a potential customers' overall perception of a brand, product line, or organization in general |
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Term
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Definition
| the palce a product, brand, or group of products occupies in consumers' minds relative to competing offerings |
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Term
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Definition
| a positioning strategy that many frims ue to distinguish their products form those of comppetitors |
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Term
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Definition
| a means of displaying or graphing, in two or more dimensions the location of products, brands, or groups of products in customers' minds |
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Term
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Definition
| changing consumers' perceptions of a brand in relation to comepting brands |
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