Ch. 6 Consumer Behavior Flashcards
Need Recognition
To go from actual, needy state to different, desired state
Consumer Decision Process
Need Recognition Info Search Alternative evaluation Purchase Post Purchase
Functional Needs
Performance of a product or service
Psychological Needs
Personal gratification consumers associate with a product and/or service
Internal search for information
Buyer examines their own memory and knowledge about the product or service, gathered through past experiences
External search for information
Buyer seeks information outside their personal knowledge base to help make buying decision
Perceived Benefits vs. Perceived Costs of Search
A good amount of time and effort spent to search for information about a product or service
Internal locus of control
Believe they have some control over the outcomes of their actions, generally engage in more search activities
External locus of control
Consumers believe fate or other external factors control all outcomes
Actual or Perceived Risk
Associated with purchase decisions can delay or discourage a purchase:
Performance Financial Social Physiological Psychological
Performance Risk
Perceived danger inherent in a poorly performing product or service
Financial Risk
Risk associated with monetary outlay and includes initial cost of the purchase and cost of using the item or service
Social Risk
Fears consumers suffer when they worry others might not regard their purchases positively
Physiological Risk or Safety Risk
Fear of actual harm if the product doesn’t perform properly
Psychological Risk
Risk associated with how people will feel if the product or service doesn’t show the right image
Attribute Sets
A consumers mind organizes and categorizes alternatives to aid their decision process
Universal Sets
All possible choices for a product category > marketers focus only on a subset of choices
Retrieval Sets
Brands or stores that you can remember
Evoked Set
Alternative brands or stores considered when making a purchase decision
Evaluative Criteria
Salient, or important, attributes about a particular product
Determinant Attributes
Product or service features that are important to buyer and on which competing brands or stores perceive to differ
Consumer Decision Rules
Set of criteria that consumers use consciously or subconsciously to quickly and efficiently select from among several alternatives
Compensatory Decision Rule
Assumes the consumer, when thinking of alternatives, trade offs one characteristic against another
(good characteristics compensate for bad characteristics)
Multi-attribute model
Allows the trade off between various factors into a consumers purchase decision
(Not formal process of making the purchasing decision)
Noncompensatory Decision Rule
Choose a product or service based on one characteristic or subset of a characteristic, regardless of the values of other attributes
Conversion Rate
Measures how well retailers have converted purchase intentions into purchases
Postpurchase
Entails actual rather than potential customers
Customer Satisfaction
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
Postpurchase Cognitive Dissonance
Internal conflict that’s arises from inconsistency between two beliefs or behavior
Customer Loyalty
Postpurchase stage of decision making process, marketers attempt to build loyal relationship with their customers
Negative Word of Mouth
Consumers spread negative info about a product, service or store to others
Motive
Need or want that’s strong enough to cause the person to seek satisfaction
Maslow’s Hierarchy of Needs
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)
Physiological Needs
Basic biological necessities of life - food, drink, rest, shelter
Safety Needs
Protection and physical well-being
Love Needs
Our interactions with others
Esteem Needs
Allows us to satisfy our inner desires
Self-actualization
Feel completely satisfied w/ your life and how you live
Attitude
Persons evaluation of their feelings about and behavioral tendencies toward an object or idea
Cognitive Component
Person’s belief system or what we believe to be true
Affective Component
Emotions or what we feel about the issue at hand - like or dislike of something
Behavioral Component
Actions we undertake based on what we know and feel
Perception
We select, organize, and interpret info to form a meaningful picture of the world
Learning
Change in persons thought process or behavior from experience and takes place throughout consumer decision process
Lifestyle
The way consumers spend their time and money to live
Social Factors
Family
Reference Groups
Culture
Family
Many purchases are made that the entire family will consume or use
Reference Groups
One or more persons an individual uses as a basis for comparison regarding beliefs, feelings, behaviors
Culture
Shared meanings, beliefs, morals, values, and customs of a group of people
Situational Factors
Factors specific to the situation, override, or influence, psychological and social issues
Temporal State
State of mind at any particular time can alter our preconceived notions of what we are going to purchase
Involvement
Consumers amount of interest in a product or service
Extended Problem Solving
Customer perceives that the purchase decision entails a lot of risk
Limited Problem Solving
Purchase decision that’s takes a moderate amount of effort and time
Impulse Buying
Buying decision made on spot when see merchandise
Habitual Decision Making
Purchase decision that the consumer engage in a little conscious effort
