Consumer Buying Behavior
The five stages are problem recognition, information search, evaluation of alternatives, purchase, and postpurchase evaluation.
What are the stages of the consumer buying decision process?
Producer, reseller, government, and institutional are considered...
What are the four types of business markets?
The use of all digital media, including the internet and mobile channels, to develop communication and exchanges with customers.
What is digital marketing?
A good, service, or idea received in an exchange that provides value to the buyer.
What is a product?
This term describes when you suddenly decide to buy something without planning to — like grabbing a candy bar at checkout because it “just looks good.”
What is impulse buying?
This type of consumer decision making is used for low-cost, frequently purchased products like bread or bottled water.
What is routinized response behavior?
When two companies agree to buy from each other, this unique business marketing arrangement occurs.
What is reciprocity?
Social media, blogs, podcasts, and mobile marketing are examples of these.
What are the four types of digital media used for marketing?
Bread, milk, and pain relievers are examples of these low-cost, frequently purchased products that require little effort to buy.
What are convenience products?
When a business like Starbucks buys coffee beans from several different suppliers instead of just one, it’s using this sourcing strategy.
What is multiple sourcing?
Physical surroundings, social surroundings, time, purchase reason, and buyer’s mood and condition are examples of these.
What are situational influences that affect consumer buying behavior?
This group within an organization makes business purchase decisions and includes roles such as users, influencers, buyers, deciders, and gatekeepers.
What is the buying center?
Click-through rate, engagement rate, conversion rate, and brand mentions are all examples of these measurable indicators of success.
What are key performance indicators (KPIs)?
Introduction, growth, maturity, and decline are the four stages of this cycle that tracks a product’s performance over time.
What is the product life cycle?
The most popular social media networking site in the world.
What is Facebook?
This is the most basic level in Maslow’s Hierarchy of Needs that motivates consumers to buy essentials like food and shelter.
What are physiological needs?
This type of purchase occurs when a company buys a product for the very first time to solve a new problem or perform a new job.
What is a new-task purchase?
The ability of the marketer to identify customers before they make a purchase
What is addressability?
When Starbucks sells beverages, food, and mugs, each category represents one of these related groups of product items.
What is a product line?
McDonald’s golden arches, Starbucks’ green mermaid, and Apple’s bitten apple are all examples of this visual part of a brand that doesn’t use words.
What is a brand mark (or logo)?
A buyer’s post-purchase doubt about whether they made the right decision, which can lead them to return the product or justify the purchase.
What is cognitive dissonance?
This online system allows businesses around the world to exchange goods, services, information, and payments efficiently.
What is a B2B marketplace?
The process of monitoring digital conversations across social media platforms to gain insights into customers’ opinions, preferences, and behaviors
What is social listening?
When two brands like Nike and Apple collaborate to create a fitness smartwatch, it’s an example of this branding strategy.
What is co-branding?
You instantly recognize the blue box and white ribbon from Tiffany & Co. without seeing the logo — proof of this key marketing element at work.
What is packaging?