Consumer motives - Study guides, Class notes & Summaries

MBA 706 Exam 2 Study Guide Questions and Answers. 1. What is the difference between a want and a need from the consumer buying process’ perspective? o Need  Occurs when the consumer’s existing level of satisfaction and desired level of satisfaction are not the same  Based on internal (e.g., hunger, thirst, and fatigue) or external (e.g., advertising, window shopping, interacting with salespeople) stimuli  Consumers can "recognize needs" in a variety of settings and situati...

information risk correct answers the possibility that the information upon which the business risk decision was made was inaccurate causes: -remoteness of information -biases and motives of the provider -complexity -voluminous data cost of information risk is a factor in Cost of Capital; COC= risk free rate of return, economic risk premium, information risk premium higher information risk premium=high cost of capital remoteness of information correct answers can't get an insid...

UCF MAR 3023 Exam 2 Review (Study Guide/ Quizzes) Rated A+ Consumer Decision Process Need Recognition, Information Search, Alternative Search, Alternative Evaluation, Purchase, Post-Purchase Need Recognition The beginning of the consumer decision process; occurs when consumers recognize they have an unsatisfied need and want to go from their actual, needy state to a different, desired state. Functional Needs Pertain to the performance of a product or service. Psychological Need...

Basis of Buyer Decisions o :## Product choice o Brand choice o Dealer choice o Purchase timing o Purchase amount Consumer Buying Process o :## Problem recognition, information search, evaluation of alternatives, purchase decision, post-purchase behavior Problem Recognition o :## The first stage of the business buying process in which someone in the company recognizes a problem or need that can be met by acquiring a good or a service. Information Search o :## the stage of the buy...

CHAPTER1: ANSWERS AND RATIONALES 1. Which change represents the primary impetus for the end of the era of the female lay healer? 1. Perception of health promotion as an obligation 2. Development of a clinical nurse specialist position statement 3. Foundation of the American Association of Nurse-Midwives 4. Emergence of a medical establishment Page: 4 Feedback 1. . Lay healers traditionally viewed their role as being a function of their community obligations; however, the emerging medical establi...

construal - the way a person perceives, comprehends, and interprets a social situation social psychology - The scientific discipline that attempts to understand and explain how the thoughts, feelings and behavior of individuals are influenced by the actual, imagined, or implied presence of others behaviorism - theory that rewards reinforce the desire to continue behavior and punishments weaken the desire Gestalt Psychology - In order to understand perception one needs to understand all of ...

Marketing 3000 Joel Poor Exam Study Guide Basis of Buyer Decisions - answerProduct choice Brand choice Dealer choice Purchase timing Purchase amount Consumer Buying Process - answerProblem recognition, information search, evaluation of alternatives, purchase decision, post-purchase behavior Problem Recognition - answerThe first stage of the business buying process in which someone in the company recognizes a problem or need that can be met by acquiring a good or a service. Information ...

Benefits - Whatever provides the customer with a personal advantage or gain. Answers the question, "How will I benefit from owning or using the product?" Boiler room video - telemarketing - - Seller's name is Ron. - How to sell on a telemarketing call. - "It's not what I want, It's what you want." Bridge Statements - Transitional phrase or statement that connects a statement of features, with a statement of benefits. Buying Motives - An aroused need, drive or desire that stimulates...

marketing - Answer-group of activities designed to expedite transactions by creating, distributing, pricing, and promoting goods, services, and ideas functions of marketing - Answer-buying, selling, transporting, storing, grading, financing, market research, risk taking exchange - Answer-the act of giving up one thing (money, credit, labor, goods) in return for something else (goods, services, or ideas) value - Answer-customer's subjective assessment of benefits relative to costs in deter...

Consumer behavior: correct answers The study of individuals, groups, or organizations and the processes they use to select, secure, use and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society. Four areas of applications of consumer behavior: correct answers Marketing strategy Regulatory Policy Social Marketing Informed individuals Components of the marketing mix: correct answers Product Communicatio...