Chapter 1: What is CB, and Why Should I Care?

Question 1

Set of value-seeking activities that take place as people go about addressing realized needs.

Answer 1

Consumer Behavior

Question 2

Way a consumer goes about addressing a recognized need.

Answer 2

Want

Question 3

Acting out of the decision to give something up in return for something of greater value

Answer 3

Exchange

Question 4

Negative results of consumption

Answer 4

Costs

Question 5

Positive results of consumption

Answer 5

Benefits

Question 6

Process by which goods, services, or ideas are used and transformed into value

Answer 6

Consumption

Question 7

Study of production and consumption

Answer 7

Economics

Question 8

Study of human reactions to environments including behavior and mental processes

Answer 8

Psychology

Question 9

Study that focuses on the thoughts, feelings, and behaviors that people have as they interact with other people

Answer 9

Social Psychology

Question 10

Study of the intricacies of mental reactions involved in information processing

Answer 10

Cognitive Psychology

Question 11

Multitude of value-processing seller activities that facilitate exchanges between buyers and sellers

Answer 11

Marketing

Question 12

The study of groups of people within a society, with relevance for consumer behavior because a great deal of consumption takes place within group settings or is affected by group behavior

Answer 12

Sociology

Question 13

Study in which researchers interpret relationships between consumers and the things they purchase, the products they own, and the activities in which they participate

Answer 13

Anthropology

Question 14

Way of doing business in which the actions and decision making of the institution prioritize consumer value and satisfaction above all other concerns

Answer 14

Consumer (Customer) Orientation

Question 15

Organizational culture that embodies the importance of creating value for customers among all employees

Answer 15

Market Orientation

Question 16

Activities based on the belief that the firm’s performance is enhanced through repeat business

Answer 16

Relationship Marketing

Question 17

Direct contacts between the firm and the customer

Answer 17

Touchpoints

Question 18

Theory that explains why companies succeed or fail; the firm goes about obtaining resources from consumers in return for the value the resources create

Answer 18

Resource-Advantage Theory

Question 19

A product feature that delivers a desires consumer benefit

Answer 19

Attribute

Question 20

Potentially valuable bundle of benefits

Answer 20

Product

Question 21

Plan wherein the same basic product is offered to all customers

Answer 21

Undifferentiated Marketing

Question 22

Approach where innovation is geared primarily toward making the production process as efficient and economic as possible

Answer 22

Production Orientation

Question 23

Firms that serve multiple market segments each with a unique product offering

Answer 23

Differentiated Marketing

Question 24

Plan wherein a different product is offered for each individual customer so that each customer is treated as a segment of one

Answer 24

One-To-One Marketing

Question 25

Plan wherein a firm specializes in serving one market segment with particularly unique demand characteristics

Answer 25

Niche Marketing

Question 26

Approach that seeks to explain the inner meanings and motivations associated with specific consumption experiences

Answer 26

Interpretative Research

Question 27

Means for gathering data in a relatively unstructured way, including case analysis, clinical interviews, and focus group interviews

Answer 27

Qualitative Research

Question 28

Subjective data that requires a researcher to interpret the meaning

Answer 28

Researcher Dependent

Question 29

Qualitative approach to studying consumers that relies on interpretation of the lived experiences associated with some aspect of consumption

Answer 29

Phenomenology

Question 30

Qualitative approach to studying consumers that relies on interpretation of artifacts to draw conclusions about consumption.

Answer 30

Ethnography

Question 31

Approach that addresses questions about consumer behavior using numerical measurement and analysis tools

Answer 31

Quantitative Research