MBA 706 Minseong Kim Exam 2
Study online at https://quizlet.com/_cdgn52
1. What are busi- •Raw materials - Iron ore, chemicals, agricultural products, wood pulp
ness products? •Component parts - Spark plugs, computer chips, pane glass, hard drives
•Process materials - Food additives, wood sealants, paint colorings
•Maintenance, repair, and operating products - Furniture, building security, jan-
itorial services
•Installations - Enterprise software, buildings, heat and air systems
•Business services - Legal services, accounting services, consulting, research
services
2. Consumer Buy- 5 Steps
ing Process 1. Need Recognition
2. Information Search
3. Alternative Evaluation
4. Purchase
5. Post Purchase
3. Need Based on Internal vs external Stimuli
Occurs when the consumer's existing level of satisfaction and desired level of
satisfaction are not the same
4. Internal stimuli Hunger, Thirst, Fatigue, Transportation
5. External Stimuli Advertising
Window Shopping
Interacting with Salesperson
6. Want Desire that will satisfy the need
Ex: Car satisfies need for transportation
7. Demand Ability and Willingness to purchase backs up want
8.
, MBA 706 Minseong Kim Exam 2
Study online at https://quizlet.com/_cdgn52
What are out- Delight
comes con- Satisfaction
sumers ex- Dissatisfaction
perience in Cognitive dissonance
the post-pur-
chase stage, and
how are they dif-
ferent?
9. Delight Product exceeds expectation
10. Satisfaction Product meets expectation
11. Dissatisfaction Product falls short of expectation
12. Cognitive Disso- Post-purchase doubt, unsure if expectations are met
nance
13. What are issues Consumers do not always follow stages in the sequence, can be swayed by brand
in the buying loyalty, may skip stages (impulse buying)
process?
Involves making parallel decisions - what to buy, where to buy
Bias towards a merchant limits buying power
14. When does When consumers recognize they have an unmet need - begins the buying process
"need recogni-
tion" mean in the
consumer buy-
ing process?
15. What are Passive
the characteris- Active
tics of informa- Internal Sources
, MBA 706 Minseong Kim Exam 2
Study online at https://quizlet.com/_cdgn52
tion search in the External Sources
consumer buy- Amount of time, expense depends on
ing process? -Degree of risk
-Amount of expertise
-Cost of the search
16. Passive Informa- Attentive and receptive to information; noticing and paying attention to ads
tion Search
17. Active Informa- Purposely seeks info, browsing the web, asking friends, visiting dealerships
tion Search
18. Internal Informa- Memories, friends, family, personal experience
tion Sources Most important source for most customers
19. External Infor- Salespeople, advertising, websites, displays
mation Sources
20. What does 'evoke Narrowing potential products to a few products that meet needs
set' mean?
Outcome of the info search and begins next step in the buying process
21. What are fac- Decision-making complexity
tors affecting the Individual influences
consumer buy- Social influences
ing process? Situational influences
22. Decision-making Primary reason for variations in the buying process. High or low risk
Complexity
23. Individual Influ- Demographics, perceptions, motives, interests, attitudes, opinions, lifestyles, etc.
ences
24. Social Influences reference groups, opinion leaders, family members, social class, culture
Study online at https://quizlet.com/_cdgn52
1. What are busi- •Raw materials - Iron ore, chemicals, agricultural products, wood pulp
ness products? •Component parts - Spark plugs, computer chips, pane glass, hard drives
•Process materials - Food additives, wood sealants, paint colorings
•Maintenance, repair, and operating products - Furniture, building security, jan-
itorial services
•Installations - Enterprise software, buildings, heat and air systems
•Business services - Legal services, accounting services, consulting, research
services
2. Consumer Buy- 5 Steps
ing Process 1. Need Recognition
2. Information Search
3. Alternative Evaluation
4. Purchase
5. Post Purchase
3. Need Based on Internal vs external Stimuli
Occurs when the consumer's existing level of satisfaction and desired level of
satisfaction are not the same
4. Internal stimuli Hunger, Thirst, Fatigue, Transportation
5. External Stimuli Advertising
Window Shopping
Interacting with Salesperson
6. Want Desire that will satisfy the need
Ex: Car satisfies need for transportation
7. Demand Ability and Willingness to purchase backs up want
8.
, MBA 706 Minseong Kim Exam 2
Study online at https://quizlet.com/_cdgn52
What are out- Delight
comes con- Satisfaction
sumers ex- Dissatisfaction
perience in Cognitive dissonance
the post-pur-
chase stage, and
how are they dif-
ferent?
9. Delight Product exceeds expectation
10. Satisfaction Product meets expectation
11. Dissatisfaction Product falls short of expectation
12. Cognitive Disso- Post-purchase doubt, unsure if expectations are met
nance
13. What are issues Consumers do not always follow stages in the sequence, can be swayed by brand
in the buying loyalty, may skip stages (impulse buying)
process?
Involves making parallel decisions - what to buy, where to buy
Bias towards a merchant limits buying power
14. When does When consumers recognize they have an unmet need - begins the buying process
"need recogni-
tion" mean in the
consumer buy-
ing process?
15. What are Passive
the characteris- Active
tics of informa- Internal Sources
, MBA 706 Minseong Kim Exam 2
Study online at https://quizlet.com/_cdgn52
tion search in the External Sources
consumer buy- Amount of time, expense depends on
ing process? -Degree of risk
-Amount of expertise
-Cost of the search
16. Passive Informa- Attentive and receptive to information; noticing and paying attention to ads
tion Search
17. Active Informa- Purposely seeks info, browsing the web, asking friends, visiting dealerships
tion Search
18. Internal Informa- Memories, friends, family, personal experience
tion Sources Most important source for most customers
19. External Infor- Salespeople, advertising, websites, displays
mation Sources
20. What does 'evoke Narrowing potential products to a few products that meet needs
set' mean?
Outcome of the info search and begins next step in the buying process
21. What are fac- Decision-making complexity
tors affecting the Individual influences
consumer buy- Social influences
ing process? Situational influences
22. Decision-making Primary reason for variations in the buying process. High or low risk
Complexity
23. Individual Influ- Demographics, perceptions, motives, interests, attitudes, opinions, lifestyles, etc.
ences
24. Social Influences reference groups, opinion leaders, family members, social class, culture
