MK303 Test #2 Study Guide CS: Consumer Behavior C7: Marketing Information CB: Product Planning Definition of consumer behavior Elements of Marketing Information System Definitions of Product and Product Quality Economic needs Goods versus Services Marketing Dashboard Psychological influences Data, Information, Knowledge, Wisdom Product assortment (Product lines, Needs versus wants Individual products) PSSP hierarchy of needs Five-Step Marketing Research Process Lifestyle dimensions (AIDs) 1) Defining the Problem Consumer product classes Problem ws symptom Convenience goods (staples, impulse Social Influences emergency) Family life cycle 2) Analyzing the Situation Shopping Goods (homogeneous, Social class (and how it is measured) Secondary data sources (inside and heterogeneous) Reference group outside company Specialty good's Opinion leader Unsought (new unsought, regular Effects of culture and ethnicity 3) Gewing Problem Specific Data unsought) Deflinttion off Primary data Purchase Situation influences (reason, time, Qualitative us Quantitative Business Products physical surroundings) Questioning vs Observing Branding as part of Product Strategy Steps in the Consumer decision process 4) Interpreting the Data Brand Name Need awareness Identify as a step only Trademark Problem solving Brand equity Purchase decision