Koofers

exam 2 - chapter 5 and 6 - Flashcards

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Class:MKT 320F - FOUNDATIONS OF MARKETING
Subject:Marketing
University:University of Texas - Austin
Term:Fall 2011
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GDP the total market value and services provided in a country economy in a year by both residents and non- residents of that country.
GNI does not include income earned by foreigners who's resources in that country, many managers see it as a great potential ,and less competition where the GNI is low.
baby booms from 1946 to 1964, the median age is growing because the percentage of population in the older groups has increased. Promises of safety and different types guarantees will appeal to this target market
- boomers use the internet in researching medical care and treatment option
generation x after the baby boom population woment were highly more educated then men. its smaller size make it a less attractive market that the boomers who preceded it.
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generation Y is techno savvy, deal with technology, comfortable with technology.will drive a trend toward a more digital lifestyles.
neoclassical economics theory by alfred marshall, buyer behavior is based on assumption. human being are economic buyer that attempt to acheieve maximum satisfacation for each dollar spent.
marginal utility In economics, the marginal utility of a good or service is the utility gained from an increase (or decrease) in the consumption of that good or service.
law of diminishing returns In economics, diminishing returns is decrease in the marginal (per-unit) output of a production process as the amount of a single factor of production is increased, while the amounts of all other factors of production stay constant.
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what influences consumer behavior social influences, psychological factors, purchase situation.
needs are the basic forces that motivates a person to do something. 
wants are needs that are learned during a person's life 
drive l a produce purchase , do the action 
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perception what consumer see or feel, how we gather and interpret information form the world around us. 

selective exposure notice infer only that interest us 
selective retention
selective perception we screen out or modify ideas, messages, and information that conflicts previously learned attitudes and beliefs 
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cues signes, ad, other stimuli 
response is an effort to satisfy a drive. The specific response chosen depends on the cues the persons past experiences 
attitude person point of view affect selective process, learning and buying decisions 
belief person opinion about something, not with liking or disliking, shapes consumers attitudes.
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expectation attitudes and beliefs combine to form an expectation. an outcome or event that a person anticipates to look forward
reference group consumers decsiion to buy or not buy a fur coat might depned on opinions of other in that customers reference group is the people to whom an individual looks when forming attitudes about particular group
extensive problem solving- consumer decision process is when the put the much effort in satisfying the needs, research
limited problem solving- when the customer has some previous experience, he know where to go to find a game
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routinized response behavior he or she regular selects a particular way in satisfied a need when it occurs 
low involvement purchases buying salt, sugar 
dissonance a feeling of uncertainty about whether the correct decision was made buying something have second thoughts about it 
what is the six step adoption process awareness, interest, evaluation, trail, decision, confirmation 
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Characterictics of social class hierarchical, restricts social interaction, behavior 
social class

o   a permanent and homogenous group of people with similar behavior patterns and interest and lifestyles

o   as viewed by others in society

o   almost all society have social class

o   most people are middle class 

types of reference groups

§  family

ú  parents and sibling attitudes impact on a lot of thing

ú  religion p

ú  economics

ú  personal ambition

ú  is very critical

§  membership groups

ú  affiliated with membership association

ú  once you graduate that may impact your thinking

§  automatic

ú  age, marital status, sex, citizenship

§  aspiration groups

ú  like to belong to but you don’t

ú  you adopt a behavior do belong to the country group

§  negative groups

ú  you

ú  democratize or republic 

What five things perception includes size- the size of the TV 
color- 
intensity- bright colors
movement - in tv bright color things moving all the time
postiion  - in retail stores
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selective distortion  is a term that refers to the tendency of people to interpret information in a way that will support what they already believe.
selective attention

·      we see about 1500 advertisements a day, not all television, hundreds

·      there is no way you can process all of that

·       we as marketing people need to understand, expose to so much stimuli that its going to be lost 

selective retention Selective retention, in relating to the mind, is the process when people more accurately remember messages that are closer to their interests, values and beliefs, than those that are in contrast with their values and beliefs, selecting what to keep in the memory, narrowing the informational flow.
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 GDPthe total market value and services provided in a country economy in a year by both residents and non- residents of that country.
 GNIdoes not include income earned by foreigners who's resources in that country, many managers see it as a great potential ,and less competition where the GNI is low.
 baby boomsfrom 1946 to 1964, the median age is growing because the percentage of population in the older groups has increased. Promises of safety and different types guarantees will appeal to this target market
- boomers use the internet in researching medical care and treatment option
 generation xafter the baby boom population woment were highly more educated then men. its smaller size make it a less attractive market that the boomers who preceded it.
 generation Yis techno savvy, deal with technology, comfortable with technology.will drive a trend toward a more digital lifestyles.
 neoclassical economics theoryby alfred marshall, buyer behavior is based on assumption. human being are economic buyer that attempt to acheieve maximum satisfacation for each dollar spent.
 marginal utilityIn economics, the marginal utility of a good or service is the utility gained from an increase (or decrease) in the consumption of that good or service.
 law of diminishing returnsIn economics, diminishing returns is decrease in the marginal (per-unit) output of a production process as the amount of a single factor of production is increased, while the amounts of all other factors of production stay constant.
 what influences consumer behaviorsocial influences, psychological factors, purchase situation.
 needsare the basic forces that motivates a person to do something. 
 wantsare needs that are learned during a person's life 
 drivel a produce purchase , do the action 
 perceptionwhat consumer see or feel, how we gather and interpret information form the world around us. 

 selective exposurenotice infer only that interest us 
 selective retention
 selective perceptionwe screen out or modify ideas, messages, and information that conflicts previously learned attitudes and beliefs 
 cuessignes, ad, other stimuli 
 responseis an effort to satisfy a drive. The specific response chosen depends on the cues the persons past experiences 
 attitudeperson point of view affect selective process, learning and buying decisions 
 beliefperson opinion about something, not with liking or disliking, shapes consumers attitudes.
 expectationattitudes and beliefs combine to form an expectation. an outcome or event that a person anticipates to look forward
 reference groupconsumers decsiion to buy or not buy a fur coat might depned on opinions of other in that customers reference group is the people to whom an individual looks when forming attitudes about particular group
 extensive problem solving- consumer decision processis when the put the much effort in satisfying the needs, research
 limited problem solving-when the customer has some previous experience, he know where to go to find a game
 routinized response behaviorhe or she regular selects a particular way in satisfied a need when it occurs 
 low involvement purchasesbuying salt, sugar 
 dissonancea feeling of uncertainty about whether the correct decision was made buying something have second thoughts about it 
 what is the six step adoption processawareness, interest, evaluation, trail, decision, confirmation 
 Characterictics of social classhierarchical, restricts social interaction, behavior 
 social class

o   a permanent and homogenous group of people with similar behavior patterns and interest and lifestyles

o   as viewed by others in society

o   almost all society have social class

o   most people are middle class 

 types of reference groups

§  family

ú  parents and sibling attitudes impact on a lot of thing

ú  religion p

ú  economics

ú  personal ambition

ú  is very critical

§  membership groups

ú  affiliated with membership association

ú  once you graduate that may impact your thinking

§  automatic

ú  age, marital status, sex, citizenship

§  aspiration groups

ú  like to belong to but you don’t

ú  you adopt a behavior do belong to the country group

§  negative groups

ú  you

ú  democratize or republic 

 What five things perception includessize- the size of the TV 
color- 
intensity- bright colors
movement - in tv bright color things moving all the time
postiion  - in retail stores
 selective distortion is a term that refers to the tendency of people to interpret information in a way that will support what they already believe.
 selective attention

·      we see about 1500 advertisements a day, not all television, hundreds

·      there is no way you can process all of that

·       we as marketing people need to understand, expose to so much stimuli that its going to be lost 

 selective retentionSelective retention, in relating to the mind, is the process when people more accurately remember messages that are closer to their interests, values and beliefs, than those that are in contrast with their values and beliefs, selecting what to keep in the memory, narrowing the informational flow.
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