Lesson-3 on Marketing

Question: What is Marketing Intelligence?

Answer:

Marketing intelligence is everyday information about developments in the marketing environment that helps managers prepare and adjust marketing.

Question: Who are the Opinion Leader in Marketing?

Answer:

Opinion within reference group who exert influence on others, because of special skills, knowledge, personality, or other characteristics,.

Question: What is Perception?

Answer:

Perception is the process by which people select, organize and interpret information to form a meaningful picture of the world.

Question: What is Belief?

Answer:

A belief is a descriptive though that a person has about something. These beliefs may be based on real knowledge, opinion, or faith, and may or may not carry an emotional charge.

Question: What is Attitude?

Answer:

A person’s consistently favorable or unfavorable evaluations , feelings and tendencies toward an object or idea. 

Question: What is Complex Buying Behavior in Marketing?

Answer:

Consumer undertake complex buying behavior when they are highly involved in a purchase and perceive significant differences among brands. Consumers may be highly involved when the product is expensive, risky , purchased infrequently and ;highly self-expressive.

Question: What is Dissonance –Reducing Buyer Behavior?

Answer:

 Dissonance-reducing buying behavior occurs when consumers are highly involved with an expensive, infrequent, or risky purchase, but see little difference among brands.

Question: What is Habitual Buying Behavior?

Answer:

Habitual buying behavior occurs under the conditions of low consumer involvement and little significant brand difference. For example, take salt.

Question: What is Variety-Seeking Buying Behavior?

Answer:

Consumers undertake variety-seeking behavior is situation characterized by low consumer involvement, but significant perceived brand differences. In such cases, consumers often do a lot of brand switching.

Question: What is Cognitive dissonance?

Answer:

 Cognitive dissonance is the buyer discomfort caused by post purchase conflict.

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