bus 6-7

Question 1

What is the consumer market?

Answer 1

All individuals and households that buy goods/services for personal use.

Question 2

What is consumer buying behavior?

Answer 2

The process consumers use to select, purchase, use, and dispose of products.

Question 3

What is buying behavior?

Answer 3

The decision processes and actions of people involved in buying and using products.

Question 4

What are levels of involvement?

Answer 4

The degree of personal relevance or interest in a product.

Question 5

What is high involvement?

Answer 5

Expensive, risky, or important purchases requiring more thought.

Question 6

What is low involvement?

Answer 6

Routine, low-cost purchases with little effort.

Question 7

What is enduring involvement?

Answer 7

Long-term interest in a product category.

Question 8

What are the 4 response types?

Answer 8

Routine, Limited, Extended, Impulse

Question 9

What is routine response behavior?

Answer 9

Habitual, low involvement decisions.

Question 10

What is limited decision making?

Answer 10

Moderate involvement, some comparison.

Question 11

What is extended decision making?

Answer 11

High involvement, extensive research.

Question 12

What is impulse buying?

Answer 12

Unplanned, spontaneous purchases.

Question 13

What is the 5-stage buying process?

Answer 13

Steps consumers go through when making a purchase.

Question 14

Step 1: Problem recognition

Answer 14

Realizing a need or want

Question 14

Step 2: Information search

Answer 14

Seeking info; repetition can lead to wear-out.

Question 15

Step 3: Evaluation of alternatives

Answer 15

Comparing options (consideration/evoked set, criteria, framing).

Question 16

What is a consideration (evoked) set?

Answer 16

Brands a consumer seriously considers.

Question 17

Step 4: Purchase

Answer 17

Buying the product.

Question 18

Step 5: Post-purchase evaluation

Answer 18

Assessing satisfaction.

Question 19

What is cognitive dissonance?

Answer 19

Doubt or anxiety after a purchase.

Question 20

What are situational influences?

Answer 20

Temporary conditions affecting buying decisions.

Question 21

How many categories are there?

Answer 21

5 categories (physical, social, time, purchase reason, mood).

Question 22

What are psychological influences?

Answer 22

Internal factors affecting decisions.

Question 23

What is perception?

Answer 23

How people interpret information.

Question 24

What is selective exposure?

Answer 24

Seeing only certain information.

Question 25

What is selective distortion?

Answer 25

Interpreting info to fit beliefs.

Question 26

What is selective retention?

Answer 26

Remembering what supports beliefs.

Question 27

What are motives?

Answer 27

Internal drives to satisfy needs.

Question 28

What is Maslow’s Hierarchy?

Answer 28

Pyramid of needs (basic → self-actualization).

Question 29

What is patronage motive?

Answer 29

Preference for certain stores or brands.

Question 30

What is learning?

Answer 30

Changes in behavior from experience.

Question 31

What are attitudes?

Answer 31

Learned predispositions to respond.

Question 32

What are the 3 components of attitudes?

Answer 32

Cognitive (beliefs), Affective (feelings), Behavioral (actions)

Question 33

What is personality?

Answer 33

Unique psychological traits.

Question 34

What is self-concept?

Answer 34

How a person sees themselves.

Question 35

What is lifestyle (AIO)?

Answer 35

Activities, Interests, Opinions.

Question 36

What is VALS?

Answer 36

System classifying consumers by values/lifestyles.

Question 37

What are roles?

Answer 37

Expected behaviors in a group.

Question 38

What is family influence?

Answer 38

Family impacts buying decisions.

Question 39

What is consumer socialization?

Answer 39

Learning how to be a consumer.

Question 40

What are reference groups?

Answer 40

Groups influencing behavior.

Question 41

What are the 3 types of reference groups?

Answer 41

Membership, Aspirational, Dissociative

Question 42

What is an opinion leader?

Answer 42

Someone who influences others’ decisions.

Question 43

What are social networks?

Answer 43

Online or offline connections influencing behavior.

Question 44

What is social class?

Answer 44

Group based on income, education, occupation.

Question 45

What are the U.S. big 3 social classes?

Answer 45

Upper, Middle, Lower

Question 46

What is culture?

Answer 46

Shared values and norms.

Question 47

What are subcultures?

Answer 47

Smaller groups within a culture.

Question 48

What is consumer misbehavior?

Answer 48

Unethical/illegal actions (e.g., piracy).

Question 49

What are business markets (B2B)?

Answer 49

Organizations buying goods/services for production or resale.

Question 49

What are producer markets?

Answer 49

Buy goods to make other products.

Question 50

What are reseller markets?

Answer 50

Buy goods to resell.

Question 51

What are government markets?

Answer 51

Government agencies buying goods/services.

Question 52

What are institutional markets?

Answer 52

Schools, hospitals, nonprofits.

Question 53

What is reciprocity?

Answer 53

Buying from companies that buy from you.

Question 54

What are the 4 primary concerns?

Answer 54

Price, quality, service, supplier reliability.

Question 55

What is a new task purchase?

Answer 55

First-time, complex purchase.

Question 56

What is a straight rebuy?

Answer 56

Routine repeat purchase.

Question 56

What is a modified rebuy?

Answer 56

Repeat purchase with changes.

Question 57

What is industrial demand?

Answer 57

Demand based on consumer demand.

Question 58

What is a buying center?

Answer 58

Group involved in purchase decisions.

Question 59

What are stages in the decision process?

Answer 59

Steps businesses follow when buying.

Question 59

What are NAICS codes?

Answer 59

System classifying industries (replaced SIC).