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Related Flashcards
Related Topics
Cards In This Set
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Inner tension that a consumer experiences after recognizing an inconsistency between behavior and values or opinions.
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Cognitive dissonance
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The type of decision making exhibited by consumers buying frequently purchased, low-cost goods and services; requires little search and decision time.
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Routine response
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What determines the level of consumer involvement in purchase process?
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Previous experience
Interest Perceived risk of negative consequences Situation Social visibility |
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Reference groups
Opinion leaders Blogs Family |
Social influences in consumer buying
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Gender
Age and family life-cycle stage Personality, self-concept, and lifestyle |
Individual influences in consumer buying
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A method of classifying human needs and motivations into five categories in ascending order of importance: physiological, safety, social, esteem, and self-actualization.
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Maslow's needs
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A product used to manufacture other goods or services, to facilitate an organization's operations, or to resell to other customers.
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Business product
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A product bought to satisfy an individual's personal wants.
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Consumer product
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Producers
Resellers Governments Institutions |
Types of business buyer
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Derived demand
Inelastic demand Joint demand Fluctuating demand |
Types of demand
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Business marketers tend to emphasize personal selling, especially for expensive items, custom-designed products, large-volume purchases, and situations requiring negotiations.
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Promoting for business product
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1. Major equipment (large or expensive machines, mainframe computers, blast furnaces, generators, airplanes, and buildings)
2. Accessory equipment (portable tools and office equipment) 3. Raw materials (mineral ore, lumber, wheat, corn, fruits, vegetables, and fish) 4. Component parts (Caterpillar diesel engines, spark plugs, tires, and electric motors for automobiles) 5. Processed materials (sheet metal, chemicals, specialty steel, lumber, corn syrup, and plastics) 6. Supplies (lubricants, detergents, paper towels, pencils, and paper) 7. Business services (janitorial, advertising, legal, management consulting, marketing research, maintenance, and other services) |
Categories of business products
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Initiator
Influencers/evaluators Gatekeepers Decider Purchaser User |
Buying center roles
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How do business buyers evaluate suppliers/make purchase decisions?
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Quality
Service Price |
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The process of dividing a market into meaningful, realatively similar, and identifiable segments or groups.
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Market segmentation
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