The behavior that consumers display in searching for, purchasing,
using, evaluating, and disposing of products, services, and ideas.
Consumer decision making:
The process of making purchase decisions based on
cognitive and emotional influences such as impulse, family, friends, advertisers, role
models, moods, and situations that influence a purchase.
Methodology used to study and interpret consumer behavior
Providing value to customers continuously so they will stay with
the company rather than switch to a competitor.
an individual’s perception of the performance of the product or
service in relation to his or her expectations.
The ratio between the customer’s perceived benefits and the resources
used to obtain those benefits.
A consumer-oriented philosophy that suggests that satisfaction of
consumer needs provides the focus for product development and marketing strategy to
enable the firm to meet its own organizational goals.
Designing, packaging, pricing, advertising, and distributing products
in such a way that negative consequences to consumers, employees, and society in
general are avoided.
The process of dividing a potential market into distinct subsets of
consumers and selecting one or more segments as a target market to be reached with a
distinct marketing mix.
The selection of a distinct market segment at which to direct a marketing
A business, government agency, or other institution that
buys the goods, services, and/or equipment necessary for the organization to function.
The individual who buys goods and services for his or her own
use, for household use, for the use of a family member, or for a friend.
Establishing a specific image for a brand in relation to competing brands
Societal marketing concept:
a revision of the traditional marketing concept that
suggests that marketers adhere to principles of social responsibility in the marketing of
their goods and services; that is, they must endeavor to satisfy the needs and wants of
their target markets in ways that preserve and enhance the well-being of consumers and
society as a whole.
Research measurement instrument used to capture evaluative data
Customer lifetime value profiles:
Profiles based on the collection and analysis of
internal secondary data
Customer satisfaction measurement:
Quantitative and qualitative measures that gauge
the level of customer satisfaction and its determinants.
A lengthy and relatively unstructured interview designed to uncover a
consumer’s underlying attitudes and/or motivations