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65 Cards in this Set
- Front
- Back
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What's the transfusive triad?
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It's where one's culture comes from by passing ideas from older to younger generations such as family, religion, and education.
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Manufacturers of consumer goods concentrate on creation of _________ utility.
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Manufacturers of consumer goods concentrate on creation of form utility.
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What are characteristics of opinion leaders?
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- Heavy users but not brand loyal
- Attentive to specialized media - Same social class - Early adopters |
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What is the most important social influence on consumer behavior?
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Family is the most important single social influence.
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What are the Freud-Hidden motives?
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says that we have hidden motives to behave in certain ways - animal urges inside all of us that we have to keep it on a leash.
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What are the 3 ways of relating to customers used over and over in class?
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- Satisfying customers
- Understanding customers - Identifying customers |
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What is perception?
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Process of exposure, attention, reception, and interpretation for sensory stumuli
- Nose has best sensory memory, ex: Grass and dirt reminds you of the hot sweaty practices during summer football practices |
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What's "subliminal perception"?
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Possible to have hidden messages in ads, TV shows, movies.
Many people don't believe it works. |
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What is self-monitoring?
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Ability to understand how other perceive you.
Ex: Parents watching over every second of the day, helps us learn what we are doing and learn "cues"-signals. |
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What does the concept of "Mindless eating" by Brian Wansink say about consumer consumption of food?
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Says people usually think they eat less than they really are.
Also shows how many cues in environment can lead people to eat less and enjoy food mre. |
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What is lifestyles?
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The patterns in which people spend their time and money along with basic orientations.
Ex: Starbucks and Dunkin Donuts - two separate tribes & breed who don't understand each other. |
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What is "Bohemian Mix"?
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A category by the Prizm system - represents nation's most liberal lifestyles; young, mobile urbanites who are early adopters to check out the latest movie, nightclub, etc.
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The class notes included detailed comparisons of the __________________ of Asian, Black, Latino, and White Americans.
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Shopping behavior
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What are the three factors related to the increasing LFPRMW (Labor Force Participation Rate of Married Women)?
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- Time Poverty
- Instant Gratification - Life simplification |
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How do consumers feel at the post-purchase when expectation levels are not met?
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Buyers feel an uncomfortable state called postpurchase dissonance - likely for products that are expensive, infrequently pruchased, do not work as intended, etc.
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How do store atmospherics influence the consumer's buying decisions?
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The use of retailer's strategy with music, scent, lighting, and even color can positively influence the decision process.
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What are the situational factors?
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-Physical surroundings ex: colors, image in front of context
- Social surroundings ex: Family, friends, men & women - Temporal perspective - Time, ex: behave differently depending on timeframe - Task definition - Purpose ex: buying for cousin you dislike - Antecedent State - Mood, Ex: Upbeat mood includences positive purchases and negative mood shows you just want to get out of the store. |
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What are the buyer types for Business to business marketing?
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- Producers
- Intermediaries - Governments - Institutions |
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What are the differences in the 4 Ps for B2B markets?
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Product - Purchase of inputs rather than outputs, support services and total systems
Place - Fewer middlemen, sellers go to buyers Promotion - Selling is critical, advertising is less importnat Price - less price sensitivity overall, elastic, price is more subject to negotiation, government as a special case. |
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The evolution of organizational orientations looks at changes in ________________________ over time.
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Evolution of organizational orientations looks at changes in the way customers have been treated over time.
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The marketing orientation is just about the opposite of the ______________ orientation.
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Marketing orientation is about opposite of the selling orientation.
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If an organization makes voluntary exchanges, it is "doing marketing" regardless of whether there is a marketing department, marketing is approved of, etc. To understand this inevitability, we talked about the discovery of ____________.
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Breathing, since exchanges have to naturally occur just like we humans naturally have to breathe.
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For what type of organizational customer is price "a special case" with respect to price?
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Government
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In class we focused on the ________________ between consumers and B2B markets.
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We focused on the differences between consumers and B2B markets.
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What are the differences in the buying process in B2B marketing?
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1. Takes longer, last longer - can take months or years
2. Involves more people - members of buying center 3. Often more formal - more policies & paperwork - The more important, the more people are involved, more crucial decision-processes |
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What segmentation strategy is good for large organizations and what strategy is good for small organizations?
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Large organizations - Differentiated segmentation strategy, targets several market segments with different offering for each
Small organizations - Concentrated segmentation strategy, since it targets a single, primary market and makes a product for those groups. Also the Concentrated segmentation strategy is good for new organizations. |
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What is "marketing myopia" refer to?
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Refers to the mistake of focusing on the product rather than the customer.
Short-sided mindset thinking that there will always be a demand for your product. |
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The Production and Product orientations are associated with _________________.
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Excess demand
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Deregulation increases the importance of marketing because it ____________________.
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Increases competition
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Top management determines what three factors?
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1. Overall Goals
2. Lines of Business 3. Role and Importance of marketing |
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Marketing managers decide on what four things within the top management framework?
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1. 4 Ps
2. Target Markets 3. Own Goals 4. Own Structure |
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The 4 Ps are the controllables and the environmental forces are the __________________.
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Uncontrollables
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About ____% of married women are in the labor force.
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70%
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What are the sub-groups of the baby bust (generation x)?
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- Cynical Disdainers (slackers)
- Traditional Materialists (optimistic) - Hippies revisited (liberal) - 50s Macho (conservative) |
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What are "empty nesters" and which developments reduce the spending of them?
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Empty nesters - baby boomers that have time & money to do whatever they want to do, peak earnings period while kids are away.
- Boomerang generation, social security financing, and longer life expectancy are the developments that reduce the spending of this group. |
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What are the factors of the Generation X group?
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Age 35-45, middle child, no attention, generation of latchkey children: grew up in homes where both parents worked.
Much less interested in shopping and far more cynical. |
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What is the biggest generation in U.S. history?
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Baby Boomers - playing "catch-up" for low birth rates during Great Depression since they delayed it before.
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Which group sees no shame in moving back with parents after college?
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Generation Y - want a good job and to live in a location that supports their lifestyle.
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What is our generation called and what are some of the factors of the group?
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Baby Boomlet or Generation Y (1976-1993) - teens & early 20s who are avid shoppers for products that make them feel cool.
- Lot of purchasing power - About quality rather than quantity - Own stuff - Brand building (not yet loyal to a brand) |
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What is the largest U.S. minority group in terms of disposable income?
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Hispanics
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What are the shopping patterns of Asian Americans? How brand loyal are they?
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Asian Americans:
- Most frequent shoppers - Most brand conscious - Least Brand Loyal - Most concerned w/appearances - Most likely to use the Internet to plan a shopping trip |
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What are the shopping patterns for Black Americans?
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Black Americans:
- Most Fashion-conscious - Most willing to travel to favorite store - Most willing to travel to new stores - Greatest preference for shopping alone - Most enjoyment in shopping |
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What are the shopping patterns for Latino Americans?
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Latino Americans:
- Most likely to shop as a family - Influence of children on purchases the greatest - Brand loyalty - Greatest preference for national chain stores |
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What are the shopping behaviors for White Americans?
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White Americans:
- Least likely to enjoy shopping - Least likely to "just browse" - Most likely to admit impulse purchasing - Most likely to plan ahead for major purchases Account for 80% of total purchasing power in U.S. |
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What percentage of Americans as of 2000 are married and not married?
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About equal, so about 50/50 marriage and 50/50 no marriage.
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What is the most realistic model of competition for American marketing?
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Monopolistic Competition - multiple competitors, easy entry into markets and easy to get out of markets.
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The 5 forces model applies to the _______________ environment.
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Competitive
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Producers or consumers have the incentive to get their way politically about laws that regulate competition?
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Producers
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What are the characteristics of people in the "mass class"?
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Brands in the past only consumed by rich, but now for people w/not as much money.
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_______________ are the patterns in which people spend their time and money along with basic orientations.
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Lifestyles
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What customers are your best customers?
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Most recent purchasers, most frequent purchasers, and largest purchasers.
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What is data mining?
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Discovering hidden predictive information.
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Which environment has the most immediate impact on marketing?
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Economic
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For the over age 65 or senior population, what factors determine their status besides age?
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Health, Education, Income.
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Differences in B2B Marketing include what four aspects?
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- Buyers
- 4 Ps - Demand - Purchasing process |
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Latinos are more _____________ than assilimation meaning what?
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Accultured meaning they adopt new culture while maintaining part of own culture.
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The 5 forces model indicates what 5 forces that influence marketing?
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1. Current competitors
2. Potential competitors 3. Substitute competitors 4. Buyers 5. Sellers |
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What are the difference in demand of B2B marketing?
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1.Derived from customer's customers - dependent
Ex: Coke helps restaurants sell products, which helps themselves since they sell coke products. 2. Fluctuates more or Volatile (Boom Bust) 3. Somewhat more rational |
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What's the difference in the buying process of B2B marketing?
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1. Takes longer, last longer - can take months or years
2. Involves more people 3.Often more formal - more policies and paperwork. |
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What type of marketing is segmentation for?
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Micro-marketing - marketing to smaller and smaller segment concentrations
One-on-one: exaggeration for consumers - Markets want you to believe tings are custom made for you, especially w/ B2B |
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Technological improvement tends to cause what effects?
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- Cost Effect -reduced cost such as flash drives being cheap.
- Substitution effect - New substitutions, Ebay - Online effect - easier to compare prices |
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Information in environmental forces are more ___________ and _____________.
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Available and predictable.
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For household income, what is the most percentage of U.S. population in? The least?
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Most of population: $50,000-100,000
Least: Over $100,000 |
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We as consumers all have _________________ influences on consumer behavior.
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Interpersonal
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What these elements intensifies competition or otherwise known as hyper-competition?
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- Deregulation
- Globalization - Technology |
