Slide 1MarketingUtilityExchangeCurrent CustomersProspective CustomersCenters of InfluenceMarketConsumer MarketsBusiness MarketsReseller MarketsIndustrial MarketsGovernment MarketsTransnational (Global) MarketsMarketersConsumer BehaviorOrganizational BuyersConsumer Decision ProcessPersonal ProcessesInterpersonal InfluencesNonpersonal InfluencesEvaluation of alternativesPost-Purchase EvaluationPerceptionStimulusPerceptual ScreensPhysiological ScreensPsychological ScreensSelf-ConceptSelective PerceptionCognitionMental FilesLearningCognitive TheoryConditioning TheoryStimulus-Response TheoryPersuasionElaboration Likelihood ModelCentral Route to PersuasionPeripheral Route to PersuasionAttitudeBrand InterestBrand LoyaltyMotivationNeedsWantsHierarchy of NeedsNegatively Originated MotivesInformational MotivesPositively Originated MotivesTransformational MotivesSocial ClassesReference GroupsOpinion LeadersCultureSubcultureEnvironmentEvoked SetEvaluative CriteriaTheory of Cognitive Dissonance or Post-Purchase DissonanceJon SteeleContemporary AdvertisingChapter 5: DefinitionsThe definitions given, you generate termsTwelfth EditionArens, Weigold, ArensRun “slideshow” in PowerPoint to viewMarketingThe process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy the perceived needs, wants, and objectives of individuals and organizations (p.141)UtilityA product’s ability to provide both symbolic or psychological want satisfaction and functional satisfaction. A product’s problem-solving potential may include form, time, place, or possession of utility (p. 141)ExchangeThe trading of one thing of value for another thing of value (p. 141)Current CustomersPeople or organizations who consume goods and services (p. 144)Prospective CustomersPeople who are about to make an exchange or are considering it (p. 144)Centers of InfluenceCustomers, prospective customers, or opinion leaders whose opinions and actions are respected by others (p. 144)Market A group of potential customers who share a common interest, need, or desire; who can use the offered good or service to some advantage; and who can afford or are willing to pay the purchase price. Also, an element of the media mix referring to the various targets of a media plan (p. 144)Consumer MarketsMarket comprised of people who buy goods and services for their own use (p. 144)Business MarketsOrganizations that buy natural resources, component products , and services that they resell, use to conduct their business, or use to manufacture another product (p. 144)Reseller MarketsIndividuals or companies that buy products for the purpose of reselling them (p. 145)Industrial MarketsIndividuals or companies that buy products needed for the production of other goods or services such as plant equipment and telephone systems (p. 145)Government MarketsGovernmental bodies that buy products for the successful coordination of municipal, state, federal, or other government activities (p. 146)Transnational (Global) MarketsConsumer, business and government markets located in foreign countries (p. 146)MarketersAny person or organization that has products, services, or ideas to sell (p. 146)Consumer BehaviorThe activities, actions, and influences of people who purchase and use goods and services to satisfy their personal household needs and want (p. 147)Organizational BuyersPeople who purchase products and services for use in business and government (p. 147)Consumer Decision ProcessThe series of steps a consumer goes through in deciding to make a purchase (p. 147)Personal ProcessesThe internal, human operations – perception, learning and motivation – that govern the way consumers discern raw data (stimuli) and translate them into feelings, thoughts, beliefs and actions (p. 148)Interpersonal InfluencesSocial influences on the consumer decision-making process, including family, society, and cultural environment (p. 148)Nonpersonal InfluencesMarketing activities that use some medium as an intermediary for communication, including advertising, direct marketing, public relations, collateral materials, and sales promotion (p. 148)Evaluation of alternativesConsideration of the attributes of brands the consumer would consider (p. 148)Post-Purchase EvaluationDetermining whether a purchase has been a satisfactory or unsatisfactory one (p. 148)PerceptionOur personalized way of sensing and comprehending stimuli (p. 148)StimulusPhysical data that can be received through the senses (p. 149)Perceptual ScreensThe physiological or psychological perceptual filters that messages must pass through (p. 149)Physiological ScreensThe perceptual screens that use the five senses to detect incoming data and measure the dimension and intensity of the physical stimulus (p. 149)Psychological ScreensThe perceptual screens consumers use to evaluate, filter, and personalize information including values, attitudes, personality and lifestyle (p. 149)Self-ConceptThe images we carry in our minds of the type of person we are and who we desire to be (p. 150)Selective PerceptionThe ability of humans to select from the many sensations bombarding their central processing unit those sensations that fit well with their current or previous experiences, needs, desires, attitudes, and beliefs, focusing attention on some things and ignoring others (p. 150)CognitionThe point of awareness and comprehension of a stimulus (p. 150)Mental FilesStored memories in the consumer’s mind (p. 150)LearningA relatively permanent change in though processes or behavior that occurs as a result of reinforced experience (p. 151)Cognitive TheoryAn approach that views learning as a mental process of memory, thinking, and the rational application of knowledge to practical problem solving (p. 151)Conditioning TheoryThe theory that learning is a trial-and-error process. Also called stimulus-response theory (p. 151)Stimulus-Response TheoryAlso called conditioning theory. Some stimulus triggers a consumer’s need or want, and this in turn creates a need to respond (p. 151)PersuasionA change in thought process or behavior that occurs when the change in belief, attitude, or behavioral intention is caused by promotion communication (such as advertising or personal selling) (p. 151)Elaboration Likelihood ModelA theory of persuasion.