Consumer Decisions
This is the collection of alternatives a consumer considers when making a purchase decision.
What is evoked set?
These are the three broad types of factors that influence consumer behavior.
What are social, psychological, and situational factors?
This type of business purchase occurs when an organization purchases a particular product or service for the first time.
What is new buy?
These are the four categories of business markets discussed in Chapter 7.
What are commercial, reseller, government, and institutional?
This global marketing activity involves marketing domestically produced goods and services abroad.
What is exporting?
This decision-making style typically occurs with frequently purchased, low-involvement products such as toothpaste or detergent.
What is routinized response behavior?
Celebrities whose lifestyles or endorsements consumers want to emulate are examples of this type of reference group.
A company routinely orders the same office supplies from the same supplier without changing the specifications. This type of business purchase is occurring.
What is straight buy?
Target purchases household products from manufacturers and then sells those products to consumers. This business-market category describes Target in this situation.
What is reseller market?
These are taxes levied against imported goods.
What are tariffs?
A student compares the price, battery life, storage, and processor speed of several laptops before choosing one. This stage of the consumer decision process is taking place.
What is the evaluation of alternatives?
A shopper purchases a name-brand soft drink for a party but normally buys a less expensive store brand for personal use. This situational factor helps explain the difference.
What is purchase reason?
A company has purchased a piece of equipment before but now wants different specifications and features. This type of business purchase is occurring.
What is modified rebuy?
This type of demand exists when demand for a product or service arises from demand for another related good or service.
What is derived demand?
This trade agreement replaced NAFTA and governs trade among the United States, Mexico, and Canada.
What is the United States–Mexico–Canada Agreement (USMCA)?
After purchasing an expensive vehicle, a customer begins questioning whether another brand would have been a better choice. This term describes the customer's post-purchase anxiety.
In Maslow's hierarchy, luxury cars, jewelry, and high-end fashion are commonly marketed toward this type of need.
What is esteem?
These members of a buying center control the information that other members of the buying center ultimately receive.
What are gatekeepers?
Greater customization, service requirements, and larger purchase quantities help explain why this promotional approach is especially important in B2B markets.
What is personal selling?
Under this foreign-market entry strategy, companies share the risks, costs, and management of a foreign operation with one or more partners.
What is a joint venture?
A consumer spends several weeks researching colleges and comparing costs, programs, locations, and career outcomes. This decision-making style is being demonstrated.
What is extended problem solving?
Music, lighting, aromas, décor, store layout, and merchandise displays are examples of this situational factor.
What are physical surroundings?
These are the first four activities, in order, in the organizational buying process.
What are Recognize a problem/need/opportunity → Define characteristics and quantity needed → Search for and qualify suppliers → Gather and analyze proposals?
A manufacturer divides its business customers according to the ultimate way each customer will use its product. This B2B segmentation method is being used.
What is end-use application?
Under this global marketing-mix strategy, an organization uses essentially one product and one promotional message across markets.
What is straight extension?