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Key Terms
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Conceptual model  a model that does not contain sufficient detail to predict particular behaviors but contains the beliefs about the general nature of a given theory.
(See page(s) 26)
Consumer behavior  the study of individuals, groups, or organizations and the processes they use to select, secure, use and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these have on the consumer and society.
(See page(s) 7)
Consumer cost  everything the consumer must surrender in order to receive the benefits of owning/using the product.
(See page(s) 22)
Customer satisfaction  when customers are satisfied with their purchase and the use of the product.
(See page(s) 24)
Customer value  the difference between all the benefits derived from a total product and all the costs of acquiring those benefits.
(See page(s) 11)
Distribution  having the product available where target customers can buy it.
(See page(s) 22)
Injurious consumption  when individuals or groups make consumption decisions that have negative consequences for their long-run-well-being.
(See page(s) 25)
Lifestyle  how one lives.
(See page(s) 29)
Market segment  a portion of a larger market whose needs differ from the larger market.
(See page(s) 16)
Marketing communication  advertising, the sales force, public relations, packaging, and any other signal that the firm provides about itself and its products.
(See page(s) 20)
Marketing mix  the product, price, communications, distribution, and services provided to the target market.
(See page(s) 19)
Marketing strategy  answers the question: How will we provide superior customer value to our target market?
(See page(s) 19)
Need set  used to reflect the fact that most products in developed economies satisfy more than one need.
(See page(s) 17)
Price  the amount of money one must pay to obtain the right to use the product.
(See page(s) 21)
Product  anything a consumer acquires or might acquire to meet a perceived need.
(See page(s) 19)
Product position  an image of the product or brand in the consumer’s mind relative to competing products and brands.
(See page(s) 23)
Self-concept  the totality of an individuals thoughts and feelings about him-or herself.
(See page(s) 29)
Service  auxiliary or peripheral activities that are performed to enhance the primary product or service.
(See page(s) 22)
Social marketing  the application of marketing strategies and tactics to alter or create behaviors that have a positive effect on the targeted individuals or society as a whole.
(See page(s) 10)
Target market  that segment(s) of the larger market on which we will focus our marketing effort.
(See page(s) 18)
Total Product  the product features, price, communications, distribution, and services that will provide customers with superior value.
(See page(s) 13)







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