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13 May, 2016 - 13:23

Market A group of potential buyers with needs and wants and the purchasing power to satisfy them.

Need A basic deficiency given a particular situation.

Want Placing certain personal criteria as to how a need should be fulfilled.

Information search Involves the mental as well as physical activities that consumers must perform in order to make decisions and accomplish desired goals in the marketplace.

Attitude An opinion we hold toward a person, idea, place, or thing.

Cognitive dissonance Negative feelings the consumer has after purchase.

High-involvement decisions Decisions that are important to the buyer because they are closely tied to self-image and have an inherent risk.

Low-involvement decisions Decisions that are not very important to the buyer because ego is not involved and risk is low.

Culture A large group of people with a similar heritage.

Social class People grouped together because of similar occupation, wealth, income, education, power, and prestige.

Reference groups Individuals who share common attitudes and behavior.

Family Iifecycle Predictable stages experienced by families.

Learning Changes in behavior resulting from previous experiences.

Socialization The process by which persons acquire the knowledge, skills, and dispositions that make them more or less able members of their society.

Motivation An inner drive or pressure to take action to satisfy a need.

Personality A term used to summarize all the traits of a person that makes him/her unique.

Lifestyle A profile of an individual as reflected in their attitudes, interests and opinions.