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BBUS 421 Consumer Marketing Quiz 1 (CH. 1, 14, 15, 16, 17) Study online at

BBUS 421 Consumer Marketing Quiz 1 (CH. 1, 14, 15, 16, 17)

Study online at quizlet.com/_6imndp

1. the study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society

Consumer

Behavior

2.

4

Applications

of Consumer

Behavior

1. Marketing Strategy

2. Regulatory Policy

3. Social Marketing

4. Informed Individuals

3.

Market

Analysis 4

Components

1. The Consumers

2. The Company

3. The Competitors

4. The Conditions

Market

4. a portion of a larger market whose needs differ from the larger market

Segmentation

5.

Market

Segmentation

Steps (4)

1. Identifying Product-Related Need Sets

2. Grouping Customers with Similar Need

Sets

3. Describing Each Group

4. Selecting an Attractive Segment(s) to Serve

6. Marketing Mix

Product

Communications

Price

Distribution

Services

7. the level of concern for, or interest in, the purchase process, triggered by need to consider a particular purchase, and so it is a temporary state influenced by the interaction of individual, product, and situational characteristics

Purchase

Involvement

8. Interest for a particular product type

Product

Involvement

Nominal

9. when there is very low involvement with the purchase.

Decision

Making

10. Nominal

Decision

Making 2

Categories

1. Brand Loyal Purchases

High commitment to brand

2. Repeat Purchases

Low commitment to brand

Limited

11. Limited decision making involves internal and limited external search, few alternatives, simple decision rules on a few attributes, and little postpurchase evaluation.

Decision

Making

12. Extended decision making involves extensive internal and external search followed by a complex evaluation of multiple alternatives.

Extended

Decision

Making

13. Problem recognition is the result of a gap between a desired state and an actual state sufficient to arouse and activate the decision process.

Problem

Recognition

(also

issue/need

recognition)

Desire to

14. 1. The magnitude of the discrepancy between the desired and actual states, and 2. The relative importance of the problem

Solve

Problem

Depends

on 2

Factors:

Actual

15. the way an individual perceives his/her feelings and situation to be at the present time.

State

Desired

16. the way an individual wants to feel or be at the present time. Consumer Perception is key.

State

Active

17. An active problem is one the consumer is aware of or will become aware of in normal course of events. Marketing strategy: Only require marketer to convince consumers that its brand is the superior solution.

Problem

18. An inactive problem is one of which the consumer is not aware. o Marketing strategy: Marketer must convince consumers that they have the problem AND that their brand is a superior solution.

Inactive

Problem

19. 3 Ways to

-Problem Analysis

Discover

-Product Analysis

Consumer Problems:

-Emotion Research

Activity

20. Focuses on a particular activity to determine what problems consumers encounter during the performance of the activity.

Analysis

21. Examines the purchase or use of a particular product or brand. Consumers may be asked about problems associated with using a product or brand.

Product

Analysis

22. Starts with a problem and asks which activities, products, or brand are associated with (or perhaps could eliminate) those problems.

Problem

Analysis

23. Human factors research attempts to determine human capabilities in areas such as vision, strength, response time, flexibility, and fatigue and the effect on these capabilities of lighting, temperature, and sound. o This type of research can sometimes identify functional problems that consumers are unaware of.

Human

Factors

Research

24. Emotion

Research

Marketers are increasingly conducting research on the role of emotions in problem recognition and resolution. Critical in helping marketers anticipate consumer reaction to problems and train customer service personnel to respond appropriately.

25.

Generic

Problem

Recognition

Involves a discrepancy that a variety of brands within a product category can

reduce

o Increasing generic problem recognition

generally results in an expansion of the total market

26.

Selective

Problem

Recognition

Involves a discrepancy only one brand can solve

o Firms attempt to cause selective

problem recognition to gain or maintain market share

27. Suppressing

Problem

Recognition

Occasionally information is introduced in the marketplace that triggers problem recognition that some marketers prefer to avoid.

o Obviously marketers do not want their

current customers to recognize problems with their brands.

o Effective quality control and distribution

(limited out-of-stock situations) are important in this effort.

o Packages and package inserts that

assure the consumer of the wisdom of their purchase are also common.

28. Uncontrollable

Determinants to

Problem

Recognition

-Variety Seeking (switching brands for reasons beyond company's control) -Sensory-specific satiety (consumers get bored (satiated) with sensory attributes more than on non-sensory attributes.)

29. Appropriate

Alternatives

Awareness Set (encompasses evoked set, inept set, and inert set)

30. Awareness Set

All products consumer is aware of

31. Evoked Set

Products consumer view as viable

options

32. Inert Set

Products consumer is indifferent towards

33. Inept Set

Product consumer views negatively

34. 5 Sources of

Information

-Memory

-Personal Sources -Independent Sources -Marketing Sources -Experiential Sources

35. Information

Overload

Too many options to choose from

36. Strategies

-Maintenance

(6)

-Disrupt

-Capture

-Intercept

-Preference

-Acceptance

37. Maintenance

Strategy

If the brand is purchased habitually by the

target market, the marketer's strategy is to maintain that behavior This requires consistent attention to product quality, distribution, and a reinforcement advertising strategy.

38. Disrupt

Strategy

If the brand is not part of the evoked set and

the target market engages in nominal decision making, the marketer's first task is to disrupt the existing decision pattern. Long-Run: Major brand improvement along with attention-attracting advertising could shift consumer to more extensive decision making. Short-Run: Attention-attracting advertising aimed specifically at breaking habitual decision making can be successful. -not in evoked, nominal decision

Capture

39. Limited decision making generally involves a few brands evaluated on only a few criteria. (req. emphasis on quality and dist.) Brand is in evoked set. Search occurs mainly at the point-of-purchase or in readily available media. Objective is to capture as large a share as practical. -limited decision + in evoked

Strategy

40.

Intercept

Strategy

If limited decision making and brand is not

part of evoked set, objective will be to intercept the consumer during search. -limited decision + not in evoked

Preference

41. Extended decision making with the brand in

Strategy

the evoked set requires a preference strategy.

A simple capture strategy not likely adequate.

Instead, marketer needs to structure information so brand becomes preferred by target market. -extended decision with brand in evoked set

Acceptance

42. Similar to preference strategy, but complicated by fact that target market is not seeking information about the brand. Beyond preference strategy, marketer must attract consumer attention or motivate brand learning. Incentives to try product, long-term advertising to enhance low-involvement learning and use of the Internet are useful for gaining acceptance. -Extended decision + not evoked

Strategy

43. Assumes the consumer has sufficient skills

Rational

Choice Theory

to calculate which option will maximize

his/her value, and will choose on this basis.

44.

Bounded

Rationality

A limited capacity for processing

information

Metagoal

45. refers to the general nature of the outcome being sought.

Concept

46. 1. Affective Choice

Types of

Consumer

Choice

Processes (3)

2. Attitude-Based Choice

3. Attribute-Based Choice

Affective

47. Affective choices tend to be more holistic. Brand is not decomposed into distinct components for separate evaluation. Evaluations generally focus on how they will make the user feel as they are used. Consummatory Motive: underlie behaviors that are intrinsically rewarding to the individual involved. Instrumental Motive: activate behaviors designed to achieve a second goal.

Choice

Attribute

48. Requires the knowledge of specific attributes at the time the choice is made, and it involves attribute-by-attribute comparisons across brands.

Based Choice

Process

Attitude Based

49. Involves the use of general attitudes, summary impressions, intuitions, or heuristics; no attribute-by-attribute comparisons are made at the time of choice.

Choice

Process

Evaluative

50. various dimensions, features, or benefits sought in response to a specific problem. Are typically associated with desired benefits and can differ in type number, and importance

Criteria

51. -Conjunctive Rule (non-compensatory) -Disjunctive Rule (non-compensatory) -Elimination-by-aspects Rule (non- compensatory) -Lexicographic rule (non-compensatory) -Compensatory Rule

Decision Rules

for Attribute

Based Choices

Compensatory

52. states that the brand that rates highest on the sum of the consumer's judgments of the relevant evaluative criteria will be chosen.

Rule

Retail Outlet

53. refers to any source of products or services for consumers. Ex. In-home shopping.

Barriers to

54. -Privacy Concerns -Lack of Touch

internet

shopping:

55. Store Brands

Brand made by store (ex. Kroger in Fred Meyer). High quality at a low price.

56. Store Image

Perception of the store by consumers

57. Shopping

Orientations (2)

Omni-channel (multiple channels at once) Multiple channel (multiple channels available to use)

58. Perceived Risk.

Social Cost

Product failure can

Financial Cost

result in:

Time Cost

Effort Cost

Physical Cost

59. Conditions that can affect in-store and online choices (4):

Outlet Atmosphere Point of Purchase Materials Stockouts Website functionality

60. Stockouts and reactionary behavior (three perceived costs):

1. Substitution costs

2. Transaction costs

3. Opportunity costs

61. Customer Value

Difference between all of the benefits derived from a total product and all of the costs to acquire the benefits.

62. Market

Characteristics

-Influences of external research -Store distribution -Info availability

63. Product

Characteristics

Influences External Search Perceived product differentiation Positive products (positive reinforcement)

64. Consumer

characteristics

External search (increases with social status inversely with age)

65. Noncompensatory

Rules

High level of one attribute will not offset low level of another

66. Internet Retailing

1. Travel

2. Apparel

3. Computers & Peripherals

4. Automotive

5. Consumer electronices

67. Spillover Sales

sales of additional items to customers who came to purchase an advertised item