Chapter 1

Question 1

demographics

Answer 1

descriptive characteristics of a population

Question 2

consumption communities

Answer 2

members share opinions and recommendations about anything

Question 3

market segmentation strategies

Answer 3

organization targets its product, service, or idea only to a specific group of consumers rather than everybody

Question 4

brand loyalty

Answer 4

bond between a product and consumer that is difficult for competitors to break

Question 5

consumer behavior

Answer 5

study of processes involved when individuals or groups select, purchase, use, or dispose of products, services, or experiences to satisfy needs and desires

Question 6

exchange

Answer 6

transaction in which two or more organizations or people give and receive something of value

Question 7

consumer

Answer 7

person who identifies a need or desire, makes a purchase, and then disposes of the product during the three stages of consumption

Question 8

heavy users

Answer 8

most faithful customers

Question 9

80/20 rule

Answer 9

20 percent of users account for 80 percent of sales

Question 10

relationship marketing

Answer 10

interact w customers on a regular basis and give them solid reasons to maintain bond w the company over time

Question 11

database marketing

Answer 11

tracks specific consumers’ buying habits closely and crafts products and messages tailored precisely to people’s wants and needs based on this information

Question 12

big data

Answer 12

collection and analysis of extremely large datasets

Question 13

popular culture

Answer 13

the music, movies, sports, books, celebs, and other forms of entertainment that the mass market produces and consumes

Question 14

role theory

Answer 14

takes the view that much of consumer behavior resembles actions in a play…consumers need to find the lines, props, and costumes to put on a good play

Question 15

self-concept attachment

Answer 15

product helps to establish the user’s identity

Question 16

nostalgic attachment

Answer 16

product serves as a link w the past

Question 17

interdependence

Answer 17

product is a part of the user’s daily routine

Question 18

love

Answer 18

the product elicits emotional bonds of warmth, passion, or other strong emotion

Question 19

brand images

Answer 19

meanings that have been carefully crafted w the help of legions of rock starts, athletes, slickly produced commercials, and many millions of dollars

Question 20

need

Answer 20

something a person must have to live or achieve a goal

Question 21

want

Answer 21

specific manifestation of a need that personal and cultural factors determine

Question 22

megacity

Answer 22

metropolitan area w a total pop of more than 10 mil

Question 23

b2c e-commerce

Answer 23

business selling to customers

Question 24

c2c e-commerce

Answer 24

consumer-to-consumer activity

Question 25

virtual worlds

Answer 25

popularity of chat rooms where consumers can go to discuss various topics with like-minded people

Question 26

digital native

Answer 26

consumer grew up where digital technology had always existed

Question 27

net neutrality (horizontal revolution)

Answer 27

everyone is guaranteed equal access to the "pipes" we rely on to access cyberspace

Question 28

social media

Answer 28

online means of communication, conveyance, collaboration, and cultivation among interconnected and interdependent networks of of people

Question 29

synchronous interactions

Answer 29

those that occur in real time

Question 30

asynchronous interactions

Answer 30

those that don't require all the participants to respond immediately

Question 31

culture of participation

Answer 31

belief in democracy: ability to freely interact w other people, companies, and organizations: the power to build on others content from your unique viewpoint

Question 32

consumer culture theory (CCT)

Answer 32

research that regards consumption from a social and cultural point of view rather than more narrowly as an economoic exchange