WVU MKTG 315 - Exam 3 Study Guide (2 pages)

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Exam 3 Study Guide

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Exam 3 Study Guide


Study Guide
West Virginia University
Mktg 315 - Buyer Behavior
Buyer Behavior Documents
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MKTG 315 1st Edition Exam 3 Study Guide chapters 17 18 Chapter 17 Outlet Selection and Purchase Evolving Retail Scene Technology continues to change the retail world In home shopping forms of non store retailing such as catalogs telemarketing mail and Tv Internet strategies Multi channel shoppers consumers who browse and or purchase in more than one channel A lot of consumers will research things online and then go buy them in the store or opposite go see it in store and then buy it online Omni channel shoppers consumers who browse and or purchase on more than one channel simultaneously Outlet Image Store Image attributes associated with a retail outlet Store brands brand only sold by that store great value at Walmart pink at Victoria s Secret Pricing Reference price is a price with which other prices are compared External Reference Price a price used by a marketer for the consumer to use to compare with the current price Internal Reference Price price of price range that a consumer retrieves from memory to compare with a price in the market Perceived Risk Costs of Failures Social Cost Financial Cost Time cost Effort Cost Physical Cost Unplanned Purchases purchases made in a retail outlet that are different from what consumer had planned to make prior to entering that retail outlet Impulse Purchase would occur when a consumer sees something like a candy bar and picks it up with little to no thought Outlet Atmosphere Store Atmosphere is influenced by such attributes as lighting layout presentation of merchandise fixtures floor coverings colors sounds odors along with sales people Servicescape when describing a service business such as a hospital bank or restaurant Atmospherics is the process managers use to manipulate the physical retail or service environment to create specific mood responses in shoppers Stockout s store being out of a brand a certain times to affect consumer purchases Chapter 18 Post purchase Processes Customer Satisfaction and Customer Commitment Post purchase dissonance doubt or anxiety about a purchase Use Innovativeness refers to a consumer using a product in a new way Product nonuse when a consumer actively acquires a product that is not used or used only sparingly relative to potential Efforts to reduce E waste Techforward offers a guaranteed buy back plan for electronics HP provides self addressed prepaid envelopes in which you can return used ink cartridges Consumer to Consumer Sale occurs when one consumer sells a product directly to another with or without assistance of a commercial intermediary Determinants of Satisfaction vs Dissatisfaction Symbolic performance relates to image enhancing performance Instrumental performance relates to the physical functioning of the product Affective performance emotional response that owning or using it provides Repeat purchasers consumers who continue to buy the same brand though they have no emotional attachment Switching costs costs of finding and evaluating an alternative Brand loyalty having an emotional tie to a brand Relationship Marketing an attempt to develop an ongoing expanding exchange relationship with a firm s customers

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