Test 1 Flashcards
(84 cards)
Marketing
multitude of value-producing seller activities that facilitate exchanges between buyers and sellers
Market Orientation
organizational culture that embodies the importance of creating value for customers among all employees
Consumer Behavior
set of value-seeking activities that take place as people go about addressing realized needs
Consumption
process by which goods, services, or ideas are used and transformed into value
Costs
negative results of consuption
Benefits
positive results of consuption
Attributes
a product feature that delivers a desired consumer benefit
product
potentially valuable bundle of benefits
Quantitative
approach that addresses questions about consumer behavior using numerical measurement and analysis tools
Qualitative
gathering data in a relatively unstructured way, including case analysis, clinical interviews, and focus groups interviews
Relationship Marketing
activities based on the belief that the firm’s performance is enhanced through repeat business
Touchpoints
direct contacts between the firm and a customer
Value
a personal assessment of the net worth obtained from an activity
Wants
way a consumer goes about addressing a recognized need
Differentiated Marketing
serve multiple market segments each with a unique product offering
Undifferentiated Marketing
plan wherein the same basic product is offered to all customers
Niche Marketing
plan wherein a firm specializes in serving one market segment with particularly unique demand characteristics
Consumer
Person who uses the product or service
Customer
person who buys the product or service
Accommodation
state that results when a stimulus shares some but not all of the characteristics that would lead it to fit neatly in an existing category, and consumers must process exceptions to rules about the category
Assimilation
state that results when a stimulus has characteristics such that consumers readily recognize it as belonging to some specific category
Attention
purposeful allocation of information-processing capacity toward developing an understanding of some stimulus
Behavioral influence decision-making perspective
assumes many consumer decisions are actually learned responses to environmental influences
Behavioral Intentions model
model developed to improve the ATO model, focusing on behavioral intentions, subjective norms, and attitude toward a particular behavior