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53 Cards in this Set

  • Front
  • Back
1. Describe the four major categories of factors that influence consumer behavior.
Cultural, social, personal, psychological
2. What is the term for smaller groups of people in a culture that have some shared value systems that are different from the primary culture?
3. List several subcultures in the U.S, that are not based on ethnicity.
Nationality, religion, geographic regions
4. What factors are used to measure social class?
Occupation, income, education, wealth.
5. What defines "blue collar", "white collar" and "professional" work?
Social Class
6. "Family” is one of the strongest ______ factors that influence consumer buying behavior.
7. Groups to which an individual wishes to belong, such as when a teenage girl examines ads of glamorous women to copy their clothing, jewelry, etc. in hopes to become part of that group are called
Roles and status.
8. How do you define "opinion leaders"?
influence other peoples based on skill, knowledge
9. What are AIO measurements?
Activities, interests, opinions
10. Of the four major categories of factors that influence consumer behavior, which one includes the buyer’s age, occupation, lifestyle, personality, and self-concept?
11. A consumer’s _____________ (status or role) consists of the activities they are expected to perform according to the people around them.
Social Factors
12. What is the correct order (bottom to top on pyramid) of the five levels of the Maslow Need Hierarchy?
Psychological, safety, social, esteem, self-actualization
13. A consumer goes through a Buyer Decision Process to make a purchase, which involves these five steps:
Need recognition, information search, evaluation of alternatives, purchase decision, post purchase behavior.
14. What is the Adoption Model measuring? What are the five categories of adopters? – Measures mental process from hearing to adopting.
Awareness, interest, evaluation, trial, adoption.
15. What are the five product characteristics that influence how quickly consumers adopt a new product?
Relative advantage, compatibility, complexity, divisibility, communicability
16. What are the five stages a consumer goes through in the process of adopting a new product?
Awareness, interest, evaluation, trail, product adoption.
17. What is the difference between “post-purchase behavior” and “cognitive dissonance”?
one is satisfaction after purchase, other is moral disagreement
18. Five product characteristics that influence the consumer’s rate of adoption are:
Relative advantage, compatibility, complexity, divisibility, and communicability
19. Explain the parts of the “Buying Center” and explain if it is a real or hypothetical buying center.
users, buyers, influencers, gatekeepers, deciders.
20. Give an example of an industrial buyer who is using a “modified rebuy” to make a company purchase.
changes price or other aspects of a purchase order (flea market)
21. What is Derived Demand?
business demand for products that derives from demand of goods
22. The four major steps to successful target marketing are:
massmarketing, differentiated marketing, concentrated marketing, micromarketing
23. If you sell pet supplies and decide to segment the market using Behavioral variables, what might you use? How about if you use Demographic variables? Psychographic? Geographic?
age, location, lifestyle and personality of consumers
24. What do companies like PRIZM or VALS provide to marketing managers?
Market segmentation research
25. Market Segment
accessible, defined, suitable, actionable, measurable
26. What is the marketing term for “mass marketing” and what does it mean?
go after whole market with one offer.
27. What is the marketing term for targeting two or more segments and creating a different marketing mix for each segment?
Differentiated marketing
28. What is the marketing term for marketing to individual consumers?
29. What is "niche" marketing? Is it different from "Concentrated" marketing?
same. Firm goes after large share or a few segments.
31. What is the definition of Competitive Advantage?
advantage is gained by offering greater value, by having lower price or more benefits.
32. How is a product’s positioning on a perceptual positioning map determined?
based on buyers perspective
33. Product Strategy requires five basic decision categories, which are:
product attributes, branding, packaging, labeling, support services.
34. The classification for goods purchased to become a part of a business for either what it is making/selling or for running the business is ________.
Industrial goods.
35. The classification for goods purchased for final consumption is _______________.
Consumer product
36. Understand the four categories of Consumer Goods.
Convenience, shopping, specialty, unsought
37. Understand the three categories of Industrial Goods.
Parts, Capital items, Supplies
38. Which is this, a Product Mix or a Product Line: Company X sells 5 kinds of tennis shoes, 6 styles of purses, and a variety of t-shirts.
Product Mix
39. Which is this, a Product Mix or a Product Line: Company X sells potato chips, corn chips, and several flavors of tortilla chips.
Product line
40. Kerosene was a registered brand name when the product was introduced but after many years the name was legally released as a term to be used by every company selling this kind of product. The name Kerosene became a _____________ brand.
41. The financial value of a brand is called its _______. What is the Apple brand worth?
Brand Equity, 153 Mill
42. Give an example of a Brand Extension; also give an example of a Multibrand.
New color, size, coke a cola
43. How would you increase the Width of your product mix?
Add more product lines
44. How would you increase the Length of your product line?
Add more items in lines
45. Why would a retailer carry a Private Label? (also known as: private brand, retailer brand, or store brand)
store brands Kroger.
46. What are the four major characteristics that must be taken into account when marketing Services?
intangibility, inseparability, variability, perishability
47. What percentage of new consumer products fail within 12 months?
67% established 90% new
48. What are some of the reasons new products fail?
wrong size, wrong time, priced too high, bad advertising.
49. Explain the activities that occur during the eight stages of the New Product Development process.
idea generation, idea screening, concept development and testing, marketing strategy development, business analysis, product development, test marketing, commericialization.
50. Draw the Product Life Cycle (PLC) Model, label the axes and the four stages of sales.
Pg 242
51. Which stage of the PLC has low sales but high costs?
introduction stage
52. Which stage of the PLC is at the peak of sales with prices matching the competition and promotion focusing on the brand, not the product.
Maturity stage
53. How does promotion change as a product moves through the stages of the PLC?
Starts high, and veers back
54. During the Decline stage, is it still possible to make a profit or should you stop producing the product?
Both. You could stop or hold back.