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Marketing Management > Ch. 6 Consumer Behavior > Flashcards

Ch. 6 Consumer Behavior Flashcards

0
Q

Need Recognition

A

To go from actual, needy state to different, desired state

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1
Q

Consumer Decision Process

A 
Need Recognition
Info Search 
Alternative evaluation
Purchase
Post Purchase
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2
Q

Functional Needs

A

Performance of a product or service

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3
Q

Psychological Needs

A

Personal gratification consumers associate with a product and/or service

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4
Q

Internal search for information

A

Buyer examines their own memory and knowledge about the product or service, gathered through past experiences

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5
Q

External search for information

A

Buyer seeks information outside their personal knowledge base to help make buying decision

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6
Q

Perceived Benefits vs. Perceived Costs of Search

A

A good amount of time and effort spent to search for information about a product or service

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7
Q

Internal locus of control

A

Believe they have some control over the outcomes of their actions, generally engage in more search activities

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8
Q

External locus of control

A

Consumers believe fate or other external factors control all outcomes

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9
Q

Actual or Perceived Risk

A

Associated with purchase decisions can delay or discourage a purchase:

Performance
Financial
Social
Physiological
Psychological
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10
Q

Performance Risk

A

Perceived danger inherent in a poorly performing product or service

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11
Q

Financial Risk

A

Risk associated with monetary outlay and includes initial cost of the purchase and cost of using the item or service

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12
Q

Social Risk

A

Fears consumers suffer when they worry others might not regard their purchases positively

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13
Q

Physiological Risk or Safety Risk

A

Fear of actual harm if the product doesn’t perform properly

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14
Q

Psychological Risk

A

Risk associated with how people will feel if the product or service doesn’t show the right image

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15
Q

Attribute Sets

A

A consumers mind organizes and categorizes alternatives to aid their decision process

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16
Q

Universal Sets

A

All possible choices for a product category > marketers focus only on a subset of choices

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17
Q

Retrieval Sets

A

Brands or stores that you can remember

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18
Q

Evoked Set

A

Alternative brands or stores considered when making a purchase decision

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19
Q

Evaluative Criteria

A

Salient, or important, attributes about a particular product

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20
Q

Determinant Attributes

A

Product or service features that are important to buyer and on which competing brands or stores perceive to differ

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21
Q

Consumer Decision Rules

A

Set of criteria that consumers use consciously or subconsciously to quickly and efficiently select from among several alternatives

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22
Q

Compensatory Decision Rule

A

Assumes the consumer, when thinking of alternatives, trade offs one characteristic against another
(good characteristics compensate for bad characteristics)

23
Q

Multi-attribute model

A

Allows the trade off between various factors into a consumers purchase decision

(Not formal process of making the purchasing decision)

24
Q

Noncompensatory Decision Rule

A

Choose a product or service based on one characteristic or subset of a characteristic, regardless of the values of other attributes

25
Q

Conversion Rate

A

Measures how well retailers have converted purchase intentions into purchases

26
Q

Postpurchase

A

Entails actual rather than potential customers

27
Q

Customer Satisfaction

A

Setting unrealistically high consumer expectations of product through advertising, personal selling, or other types of promotion may lead to higher initial sales, but eventually result in dissatisfaction in product fails to achieve high performance expectations

28
Q

Postpurchase Cognitive Dissonance

A

Internal conflict that’s arises from inconsistency between two beliefs or behavior

29
Q

Customer Loyalty

A

Postpurchase stage of decision making process, marketers attempt to build loyal relationship with their customers

30
Q

Negative Word of Mouth

A

Consumers spread negative info about a product, service or store to others

31
Q

Motive

A

Need or want that’s strong enough to cause the person to seek satisfaction

32
Q

Maslow’s Hierarchy of Needs

A 
Self-actualization (people engage in personal growth activities & attempt to meet their intellectual, aesthetic, creative etc. needs)
Esteem (confidence, respect)
Love (friendship, family)
Safety (secure employment, health)
Physiological (food, water, shelter)
33
Q

Physiological Needs

A

Basic biological necessities of life - food, drink, rest, shelter

34
Q

Safety Needs

A

Protection and physical well-being

35
Q

Love Needs

A

Our interactions with others

36
Q

Esteem Needs

A

Allows us to satisfy our inner desires

37
Q

Self-actualization

A

Feel completely satisfied w/ your life and how you live

38
Q

Attitude

A

Persons evaluation of their feelings about and behavioral tendencies toward an object or idea

39
Q

Cognitive Component

A

Person’s belief system or what we believe to be true

40
Q

Affective Component

A

Emotions or what we feel about the issue at hand - like or dislike of something

41
Q

Behavioral Component

A

Actions we undertake based on what we know and feel

42
Q

Perception

A

We select, organize, and interpret info to form a meaningful picture of the world

43
Q

Learning

A

Change in persons thought process or behavior from experience and takes place throughout consumer decision process

44
Q

Lifestyle

A

The way consumers spend their time and money to live

45
Q

Social Factors

A

Family
Reference Groups
Culture

46
Q

Family

A

Many purchases are made that the entire family will consume or use

47
Q

Reference Groups

A

One or more persons an individual uses as a basis for comparison regarding beliefs, feelings, behaviors

48
Q

Culture

A

Shared meanings, beliefs, morals, values, and customs of a group of people

49
Q

Situational Factors

A

Factors specific to the situation, override, or influence, psychological and social issues

50
Q

Temporal State

A

State of mind at any particular time can alter our preconceived notions of what we are going to purchase

51
Q

Involvement

A

Consumers amount of interest in a product or service

52
Q

Extended Problem Solving

A

Customer perceives that the purchase decision entails a lot of risk

53
Q

Limited Problem Solving

A

Purchase decision that’s takes a moderate amount of effort and time

54
Q

Impulse Buying

A

Buying decision made on spot when see merchandise

55
Q

Habitual Decision Making

A

Purchase decision that the consumer engage in a little conscious effort

Marketing Management (11 decks)

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