Ch. 5 Consumer Decision Making Flashcards
Consumer Behaviour
how consumers make purchase decisions and how they use and dispose of purchased goods or services; also includes the factors that influence purchase decisions and product use
Consumer Decision-making Process
a five-step process used by consumers when buying goods or services
Need Recognition
the result of an imbalance between actual and desired states
Stimulus
any unit of input affecting one or more of the five senses: sight, smell, taste, touch, hearing
Want
a particular product or service that will satisfy a need
Internal Information Search
the process of recalling information stored in one’s memory
External Information Search
the process of seeking information in the outside environment
Nonmarketing-controlled Information Source
a product information source that doesn’t originate from the company(ies) making the product
Marketing-controlled Information Source
a product information source that originates with marketers promoting the product
Evoked Set (consideration set)
a group of the most preferred alternatives resulting from an information search, which a buyer can further evaluate to make a final choice
Decision Confirmation
the reaffirmation of the wisdom of the decision a consumer has made
Cognitive Dissonance
the inner tension that a consumer experiences after recognizing an inconsistency between behaviour and values or opinions
Involvement
the amount of time and effort a buyer invests in the search, evaluation, and decision processes of consumer behaviour
Routine Response Behaviour
the type of decision making exhibited by consumers buying frequently purchased, low-cost goods and services; requires little search and decision time
Limited Decision Making
the type of decision making that requires a moderate amount of time for gathering information and deliberating about an unfamiliar brand in a familiar product category
Extensive Decision Making
the most complex type of consumer decision making, used when considering the purchase of an unfamiliar, expensive product or an infrequently purchased item; requires the use of several criteria for evaluating options and more time for seeking information
Culture
the set of values, norms, attitudes, and other meaningful symbols that shape human behaviour and the artifacts, or products, of that behaviour as they are transmitted from one generation to the next