CEA Topic 1 - Introduction to Customer Analysis Flashcards
What is the first stage of the Consumer Purchase Cycle?
Discovery - when a consumer begins to think about making a purchase
What occurs during the Investigation stage?
Consumer searches and evaluates options from various sources like sales people and websites
What happens in the Choice stage of the purchase cycle?
Consumer compares available options and makes final decision
What is the Advocate stage in the purchase cycle?
When a consumer actively promotes the brand or service to others
What are the three main stages of brand interaction?
Pre-purchase, Brand Interaction, and Post-purchase
What creates memories affecting word-of-mouth marketing?
The utility the consumer remembers from their experience
What is the Production perspective focus?
Emphasis on making products efficiently at low cost
What is the Marketing perspective focus?
Understanding and meeting customer wants and needs
What is the Societal perspective focus?
Meeting customer needs while benefiting society
What initiates the consumer decision-making process?
Recognition of a need for a product or service
How is Want different from Need in consumer decisions?
Want is the desire to fulfill a need, often influenced by social norms
What is Exchange in the decision process?
The transaction where money is traded for product or service
What factors are considered in Costs & Benefits?
Price, time, and effort versus positive results
How is Perception of Value determined?
Through overall evaluation of benefits gained from purchase
What occurs in the Pre-purchase stage?
Consumer develops anticipation and expectations before buying
