Chapter 1 buyer behavior Questions and
Answers Distinction level 2023
Consumer behavior - -set of value-seeking activities that take place as people go about
addressing their real needs
-Consumption - -Process by which consumers use goods, services, or ideas and transform the
experience into value
-Consumer orientation - -way of doing business in which the actions and decision making
prioritize consumer value and satisfaction
-Market Orientation - -organizational culture that embodies the importance of creating value for
customers among all employees
-Stakeholder marketing - -Firms recognize that more than just the buyer and seller are involved
in the marketing process
-Relationship marketing - -Activities based on the belief that the firm's performance is enhanced
through repeat business
-Interpretive research - -Seeks to explain the inner meaning and motivations associated with
specific consumption experiences
-Qualitative research tools - -Means for gathering data in a relatively unstructured way, including
case analysis, clinical interviews, and focus group interviews
-Phenomenology - -Study of consumers that relies on interpretation of their lived experience
associated with some aspect of consumption
-Ethnography - -Study of consumers that relies on interpretation of artifacts to draw conclusions
about consumption
-Netnography - -Branch of ethnography that studies the behavior of online cultures and
communities
-Quantitative research - -Addresses questions about consumer behavior using numerical
measurement and analysis tools
-Big data - -Represents the massive amounts of data available to companies that can be used to
predict customers' behaviors
-Predictive analytics - -Application of statistical tools to discover patterns in data that allow
prediction of consumer behavior
Answers Distinction level 2023
Consumer behavior - -set of value-seeking activities that take place as people go about
addressing their real needs
-Consumption - -Process by which consumers use goods, services, or ideas and transform the
experience into value
-Consumer orientation - -way of doing business in which the actions and decision making
prioritize consumer value and satisfaction
-Market Orientation - -organizational culture that embodies the importance of creating value for
customers among all employees
-Stakeholder marketing - -Firms recognize that more than just the buyer and seller are involved
in the marketing process
-Relationship marketing - -Activities based on the belief that the firm's performance is enhanced
through repeat business
-Interpretive research - -Seeks to explain the inner meaning and motivations associated with
specific consumption experiences
-Qualitative research tools - -Means for gathering data in a relatively unstructured way, including
case analysis, clinical interviews, and focus group interviews
-Phenomenology - -Study of consumers that relies on interpretation of their lived experience
associated with some aspect of consumption
-Ethnography - -Study of consumers that relies on interpretation of artifacts to draw conclusions
about consumption
-Netnography - -Branch of ethnography that studies the behavior of online cultures and
communities
-Quantitative research - -Addresses questions about consumer behavior using numerical
measurement and analysis tools
-Big data - -Represents the massive amounts of data available to companies that can be used to
predict customers' behaviors
-Predictive analytics - -Application of statistical tools to discover patterns in data that allow
prediction of consumer behavior
