| What is Consumer Buyer Behavior? | The buying behavior of the final consumers. |
| What are the 5 Stages in the Adoption Process? | 1. Awareness.
2. Interest.
3. Evaluation.
4. Trial.
5. Adoption. |
| What is Straight Buy? | A business buying situation in which buyers reorders from the same supplier. |
| What are the 8 steps in The Business Buyer Decision Process? | 1. Problem Recognition.
2. General Need Description.
3. Product Specification.
4. Supplier Search.
5. Proposal Solicitation.
6. Supplier Selection.
7. Order-Routine Specification.
8. Performance Review. |
| What is a Consumer Market? | All the individuals and households that buy or acquire goods and services for personal consumption. |
| What is the Total Market Strategy? | The integrating ethnic themes cross-cultural perspectives within a brand's mainstream marketing. |
| What are the Major factors that influence consumer buyer behavior? | 1. Cultural factors.
2. Social factors.
3. Personal factors.
4. Psychological factors. |
| What is the Reference Group? | A group that serves as direct or indirect point of comparison forming a person's attitude or behavior. |
| What is Word of Mouth? | The impact of personal words and recommendations of trusted friends and family on buying behavior. |
| What is Perception? | The process by which people select, organize, and interpret information to form a meaningful picture of the world. |
| What is Selective Attention? | The tendency to screen out most of the information to which they are exposed. |
| What is Selective Distortion? | The tendency of people to interpret information in a way that support what they already belief. |
| What are the 5 Stages of Buying Decisions Process? | 1. Need Recognition
2. Information Search
3. Evaluation of Alternatives
4. The Purchase Decisions
5. Post-purchase behavior |
| What is the Adoption Process? | The mental process through which an individual passes from first hearing about an innovation to final adoption. |
| What are the 5 Adopter Categories Groups? | 1. Innovators.
2. Early adopters.
3. Early mainstream.
4. Late mainstream.
5. Lagging adopters. |
| What is the Business Buyer Behavior? | The buying behavior of organizations that buy goods and services. |
| What is the Business Buying Process? | The decision process by which business buyers determine which product and services their organizations need to purchase. |
| What are the differences between Business and Consumer Markets? | 1. Market structure and demand. It deals with fewer but larger buyers,
2. Business purchase involves more decision participations.
3. Types of decisions are more complex and longer. |
| What are the Major Types of buying Situations? | 1. Straight buy.
2. Modified Rebuy.
3. New Task.
4. System Selling. |
| What is Modified rebuy? | A business buying in which the buyer wants to modify product specifications. |
| What is a New Task in buying situations? | Buyer purchase a product/service for the first time. |
| What is System Selling? | Buying a packaged solution to a problem from a single seller. |
| What is Derived demand? | Business demand that comes from the demand for consumer goods. |
