Tuesday, July 26, 2005

Consumer and business buyer behavior -- terms

marketing fundamentals -- part 5 -- terms

Consumer buyer behavior -- the buying behavior of final consumers, individuals and households to buy goods and services for personal consumption
consumer market -- all the individuals and households that buy or acquire goods and services for personal consumption
culture -- the set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions
subculture -- a group of people with shared values systems based on common life experiences in situations
social class -- relatively permanent and ordered divisions and a society whose members share similar values, interests, and behaviors
group -- two or more people who interact to accomplish individual or mutual goals
opinion leader -- person within a reference group who, because of special skills, knowledge, personality, or other characteristics, exerts influence on others
lifestyle -- a person's pattern of living as expressed in his or her activities, interests, and opinions
personality -- the unique psychological characteristics that lead to relatively consistent and lasting responses to ones own environment
motive -- a need that is sufficiently pressing to direct the person to seek satisfaction of the need
perception -- the process by which people select, organize, and interpret information to form a meaningful picture of the world
learning -- changes in an individual's behavior arising from experience
belief -- a descriptive thought that a person holds about something
attitude -- a person's consistently favorable or unfavorable evaluations, feelings, and tendencies toward an object or idea
cognitive dissonance -- buyer discomfort caused by post-purchase conflict
new product -- a good, service, or idea that is perceived by some potential customers as new
adoption process -- the mental process through which an individual passes from first hearing about an innovation to final adoption
business buyer behavior -- the buying behavior of the organization's that buy goods and services for use in the production of other products and services or for the purpose of reselling or renting them to others at a profit
derived demand -- business demand will ultimately comes from (derived from) the demand for consumer goods
straight rebuy -- a business buying situation in which the buyer routinely reorders something without any modifications
modified rebuy -- a business buying situation in which the buyer wants to modify product specifications, prices, terms, or suppliers
new task -- a business buying situation in which the buyer purchases of product or service for the first time
systems selling -- buying a packaged solution to a problem from a single seller, thus avoiding all the separate decisions involved in a complex buying situation
buying center -- all the individuals and units that participate in the business buying decision process
value analysis -- an approach to cost reduction in which components are studied carefully to determine if they can be redesigned, standardized, or made by less costly methods of production
e-procurement -- online purchasing also called e-commerce