Principles of Marketing Chapter 5

Selective exposure

An individual selects which inputs, usually relating to strongest needs, will reach awareness

Attitudes

An individual's enduring evaluation of feelings about and behavioral tendencies toward an object or idea

Internal search

Buyers search their memories for information about products that might solve their problem

Which of the following statements regarding the business market is​ correct?

Many sets of business purchases are made for one set of consumer purchases.

Need recognition stage

Occurs when a buyer becomes aware of a difference between a desired state and an actual condition

Which of the following needs in​ Maslow's hierarchy is generally satisfied​ first?

physiological needs

The business buying process can be a complex and complicated process with eight basic stages. Which of the following is the first stage in this​ process?

problem recognition

A purse​ company's ads feature the members of a popular housewives reality show. Product sales increase significantly among fans. From​ fans' viewpoint, the housewives reality show is a​ ______________.

reference group

Social class

relatively permanent and ordered divisions in a society whose members share similar values, interests, and behaviors

Safety needs

security, protection

Self-actualization needs

self-development and realization

Esteem needs

self-esteem, recognition, status

Social needs

sense of belonging, love

Two things can get in the way of intention and purchase decision:

• Situational factors • Attitudes of others

Lifestyle

A person's pattern of living as expressed in his or her activities, interests, and opinions

External search

When an internal search is not sufficient, consumers seek additional information from outside sources Personal contacts are often important The Internet is a major information source

Consumer market

all the individuals and households that buy or acquire goods and services for personal consumption

Buying center

all the individuals and units that play a role in the purchase decision-making process

New task

buyer purchases a product or service for the first time

Straight rebuy

buyer routinely reorders something without any modifications

Modified rebuy

buyer wants to modify product specifications, prices, terms, or suppliers

Which of the following is likely to slow the adoption of a new​ technology?

conceptual complexity

Factors influencing consumer behavior

cultural, social, personal characteristics, psychological factors

____________________ is a characteristic important in influencing an​ innovation's rate of adoption and described by the degree to which the innovation may be tried on a limited basis.

divisibility

Major influences on business buying behavior

environmental, organizational, interpersonal, individual

When marketers want to promote their products and services through​ word-of-mouth marketing​ programs, they typically begin by​ ________.

generating​ person-to-person brand conversations

Business-to-business (B-to-B) marketers

must understand business markets and business buyer behavior

What is the first step of the buyer decision​ process?

need recognition

Physiological needs

need to satisfy hunger and thirst

Which of the following is a personal characteristic influencing a​ consumer's buying​ behavior?

occupation

Marketers of brands understand that they must figure out how to reach​ ___________________ that can exert social influence on others.

opinion leaders

Which of the following is NOT a social factor influencing consumer buying​ behavior?

cognitive dissonance

Consumers obtain information from numerous sources. Which of the following involves dealer and manufacturer​ websites, packaging, and​ displays?

commercial sources

Which of the following refers to the degree to which an innovation fits the values and experiences of potential​ consumers?

compatibility

Which of the five characteristics identified has an inverse relationship with an​ innovation's rate of​ adoption, meaning as this characteristic​ increases, the rate of adoption is​ slower?

complexity

Market Structure and Demand

-Fewer but larger buyers -Derived demand -Inelastic demand

Business purchases and types of decisions

-More complex buying decisions -Interactions among people at many levels of the buyer's organization -Longer and more formalized procedures -Buyer and seller more dependent on each other

Five stages of the adoption process

1. Awareness 2. Interest 3. Evaluation 4. Trial 5. Adoption

Cognitive dissonance

A buyer's doubts shortly after a purchase about whether the decision was the right one

Consideration set (Evoked set)

A group of brands within a particular product category that the buyer views as alternatives for possible purchase

Subculture

A group of people with shared value systems based on common life experiences and situations

Learning

Changes in an individual's thought processes and behavior caused by information and experience.

Selective distortion

Changing or twisting received information

What is the nature of demand in business​ markets?

Demand in business markets is derived demand.

Business buying process

Determining which products and services to purchase

Cross-cultural marketing

Including ethnic themes and cross-cultural perspectives within a brand's mainstream marketing

How do business markets differ from consumer markets?

Market structure and demand, Nature of the buying unit, Types of decisions and the decision process

Which of the following lists the five steps of the buyer decision process in the correct​ order?

Need​ recognition, information​ search, evaluation of​ alternatives, purchase​ decision, and​ post-purchase behavior

Steps in the business buying decision process

Problem recognition, general need description, product specifications, proposal solicitation, supplier selection, order-routine specification, and performance review

Business buyer behavior

Purchasing goods and services that are used in the production of other products and services

Selective retention

Remembering information inputs that support personal feelings and beliefs and forgetting inputs that do not

Perception

Selecting, organizing, and interpreting information to product meaning

Culture

Set of basic values, perceptions, wants, and behaviors learned by an individual from family and other important institutions

Purchase Decision

The buyer intends to purchase the most preferred brand based on previous state (evaluation)

_____________ consists of many different people who play multiple roles in the buying process.

The buying center

______________________ determines if a buyer is satisfied or dissatisfied with a purchase.

The relationship between the​ consumer's expectations and the​ product's perceived performance

According to the model of buyer​ behavior, what is in a​ buyer's "black​ box"?

The​ buyer's characteristics and decision process

Consumer buyer behavior

buying behavior of final consumers

​_________ refers to the practice of integrating ethnic themes and​ cross-cultural practices within a​ company's mainstream marketing.

Total market strategy

Postpurchase customer satisfaction

a key to building profitable customer relationships.

Business Markets

huge and involve more money and items than consumer markets

Which of the following are​ tradition-bound, suspicious of​ changes, and adopt the innovation only when it has become something of a tradition​ itself?

lagging adopters

Nature of the buying unit

more decision participants and more professional purchasing effort

Psychological Factors

motivation, perception, learning, beliefs and attitudes