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Consumer Decision Making- Vocab

AB
Consumer Decision Makingthought process of a purchasing decision
Internal Searchsearching information based on previous experiences of using the product or service
External Searchsearching for outside information to learn about the product or service
Cognitive Dissonancepost-purchase anxiety caused by the doubt of whether a correct purchase decision has been made
Demographic Statusquantifiable statics detailing an individual’s current status, such as age, gender, ethnicity, occupation and income
Target Marketspecific group for which a business's products, services and marketing efforts are intended
Lifestylemode of living which reflects the attitudes and values of an individual or group
Personalityindividual’s consistent pattern of interactions in response to recurring situations which forms a distinctive character
Perceptionprocess in which an individual creates personal experience by selecting, organizing and interpreting information available to him or her
Selective Exposureconsumers actively choose messages which they want to see
Selective Attentionconsumers decide how much attention they would like to give to a message
Selective Comprehensionconsumers interpret information so that it is consistent with their beliefs and values
Motivationenergizing force which causes action to satisfy a need
Attitudepredisposition to respond to a product or brand in a favorable or unfavorable way
Beliefsubjective perception of how well a product or brand performs
Cultureset of symbols, rules and values which are formed by a homogeneous group of people and transmitted to the next generation
Reference Groupgroups to which an individual looks as a source of personal standards
Familygroup consisting of parents and children living together in a household
Family Life Cycledifferent stages of a family experience, such as marriage, birth and retirement


All Things Business
Red Oak High School
Red Oak, TX

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