Chapter 8

Post-purchase Evaluation

• The point in the buying process at which the customer decides to move forward with the purchase.

• Divides a market by demographic factors such as age, education, income, gender, occupation, ethnicity, family size, and nationality.

• Divides the market into the psychological aspects of behavior such as values, opinions, personality traits, attitudes, lifestyle, hobbies, beliefs, fears, and interests.

• The final stage of the buying process where the customer considers the value and usefulness of the purchase and how satisfied they are with the product or service.

Supply

• The prospective customers' desire for the goods and services available.

• Someone who pays or a product or service.

• The sellers who compete for customers in the marketplace.

• The customers who will actually use your product.

End Users

• Needs we have that have yet to surface.

• People who use the product or service.

• Customers who have the ability to approve large-scale purchases.

• The customers who will actually use your product.

Information Search

• A condition of remorse or regret shortly after buying a product.

• The actions and decision-making processes people go through when purchasing or investing in a product or service.

• The point in the buying process at which the customer decides to move forward with the purchase.

• Collecting information on the products or services identified in the need recognition stage.

Micromarkets

• The customers who will actually use your product.

• Divides the market based on geographical location, climate, or population density.

• The value derived from the problem it solves.

• The markets within the larger market.

Influencers (or opinion leaders)

• A model that describes the process of acceptance of a new innovation over time, according to defined adopter groups.

• Customers who have the ability to approve large-scale purchases.

• Customers with a large following who have the power to influence our purchase decisions.

• Customers similar to economic buyers who have even more authority to make purchasing decisions, as they are positioned higher up in the hierarchy.

Functional Value

• The markets within the larger market.

• The sequential steps a customer follows to find the right product or service.

• The value derived from the problem it solves.

• The value derived from how a product makes the customer feel.

Buying Process: What is the buying process?

• The actions and decision-making processes people go through when purchasing or investing in a product or service.

• The sequential steps a customer follows to find the right product or service.

• The value derived from how a product makes the customer feel.

• The point in the buying process at which the customer decides to move forward with the purchase.

Geographic Segmentation: Divides markets based on which of the following?

• Divides markets based on customer behaviors and decision-making patterns.

• Divides the market into the psychological aspects of behavior such as values, opinions, personality traits, attitudes, lifestyle, hobbies, beliefs, fears, and interests.

• Divides a market by demographic factors such as age, education, income, gender, occupation, ethnicity, family size, and nationality.

• Divides the market based on geographical location, climate, or population density.

Emotional Value: What does emotional value refer to?

• A condition of remorse or regret shortly after buying a product.

• The value derived from how a product makes the customer feel.

• The value derived from the problem it solves.

• The sequential steps a customer follows to find the right product or service.