Consumer Behavior Terms and Definitions, Quizzes of Principles of Marketing

Download Consumer Behavior Terms and Definitions and more Quizzes Principles of Marketing in PDF only on Docsity! TERM 1 Consumer buyer behavior DEFINITION 1 The buying behavior of final consumers-individuals and households that buy goods and services for personal consumption. TERM 2 Consumer market DEFINITION 2 All the individuals and households that buy or acquire goods and services for personal consumption. TERM 3 Culture DEFINITION 3 the set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions. TERM 4 Subculture DEFINITION 4 A group of people with shared value systems based on common life experiences and situations. TERM 5 Social class DEFINITION 5 Relatively permanent and ordered divisions in a society whose members share similar values, interests, and behaviors. TERM 6 Group DEFINITION 6 two or more people who interact to accomplish individual or mutual goals. TERM 7 Opinion leader DEFINITION 7 Person within a reference group who because of special skills, knowledge, personality, or other characteristics, exerts social influence on others. TERM 8 Lifestyle DEFINITION 8 A person's pattern of living as expressed in his or her activities, interests, and opinions. TERM 9 Personality DEFINITION 9 The unique psychological characteristics that distinguish a person or group. TERM 10 Motive DEFINITION 10 A need that is sufficiently pressing to direct the person to seek satisfaction of the need. TERM 21 Modified rebuy DEFINITION 21 A business buying situation in which the buyer wants to modify product specifications, prices, terms, or suppliers TERM 22 New Task DEFINITION 22 A business buying situation in which the buyer purchases a product or service for the first time. TERM 23 Systems selling (or solutions selling) DEFINITION 23 Buying a packaged solution to a problem from a single seller, thus avoiding all the separate decisions involved in a complex buying situation. TERM 24 Buying center DEFINITION 24 All the individuals and units that play a role in the purchase decision-making process. TERM 25 Value analysis DEFINITION 25 Carefully analyzing a product's or service's components to determine if they can be redesigned and made more effectively and efficiently to provide greater value. TERM 26 E-procurement DEFINITION 26 Purchasing through electronic connections between buyers and sellers-usually online