Marketing and Consumer Behavior Terms and Definitions, Quizzes of Introduction to Business Management

Download Marketing and Consumer Behavior Terms and Definitions and more Quizzes Introduction to Business Management in PDF only on Docsity! TERM 1 Ultimate Consumers DEFINITION 1 people who buy goods or services for their own personal or household use in order to satisfy strictly nonbusiness wants TERM 2 Metropolitan Statistical Area (MSA) DEFINITION 2 an urban area in the US with at least 50,000 residents TERM 3 Micropolitan Statistical Area DEFINITION 3 as defined by the Office of Management and Budget, are urban areas in the United States based around an urban cluster (urban area) with a population of 10,000 to 49,999. designation was created in 2003 a geographic entity used for statistical purposes based on counties and county-equivalents. TERM 4 Combined Statistical Area (CSA) DEFINITION 4 an urban area that consists of an adjacent metropolitan area and a micropolitan statistical area TERM 5 Demographics DEFINITION 5 current statistical characteristics of a population. These types of data are used widely in sociology, public policy, and marketing. TERM 6 Family Life-cycle Stages DEFINITION 6 series of life stages that a family goes through, starting with young single people, progressing through married stages with young and then older children, and ending with older married and single people TERM 7 Consumer Buying-decision Process DEFINITION 7 series of logical stages, which differ for consumers and organizations, that a prospective purchaser goes through when faced with a buying problem TERM 8 Level of Involvement DEFINITION 8 amount of effort expended in satisfying a need TERM 9 Loyalty DEFINITION 9 faithfulness in a particular brand or retailer so that the consumer purchases that brand or from that retailer without considering alternatives TERM 10 Patronage Buying Motives DEFINITION 10 the reasons why a consumer chooses to shop at a particular store