Chapter 4 Flashcards
The Consumer Decision Process (5)
Need Recognition
Information Search
Alternative Evaluation
Purchase Decision
Post-Purchase
What are the two classifications of needs consumers may have in the first consumer decision stage (need recognition)? Explain each.
Functional Needs - performance of product/service
Psychological Needs - personal gratification consumers associate with product/service
In the Information Search step of a consumers decision process, explain each of the two types of search.
Internal Search - buyer examines own memory about product/service from past experience
External Search - buyer seeks outside personal knowledge
What factors affect consumers’ search processes?
Perceived Benefits vs. Perceived Costs of Search
Locus of Control - internal means people engage in more search activities
Actual or Perceived Risk:
Performance
Financial
Social
Physiological
The Alternative Evaluation Step is which step #?
What are retrieval sets vs. evoked sets in this step?
3
Retrieval Set - brands/stores that can be readily retrieved from memory
Evoked Set - brands/stores considered when making a purchase decision
Determinant Attributes (T)
Product or service features that are IMPORTANT to buyers and competitors are perceived to differ in
What is a Consumer Decision Rule?
What are the 3 different forms?
A set of criteria hat consumers use (conscious or not) to quickly and efficiently select from among several alternatives
Compensatory - trades off one characteristic against another, so a good one may compensate for a bad one
Noncompensatory - choice is made based on a subset of its characteristics, regardless of its others (ex. only price and look)
Decision Heuristics - mental shortcuts that narrow down choices (ex. price, brand, presentation)
What are the 3 postpurchase outcomes?
Customer Satisfaction
Postpurchase Dissonance
Customer Loyalty
What are the three type of factors affecting consumer decision processes?
Psychological Factors
Social Factors
Situational Factors
What are the PSYCHOLOGICAL factors that affect consumer decision processes? (5)
Motives
Attitudes
Perceptions
Learning
Lifestyle
What are the SOCIAL factors that affect consumer decision processes? (3)
Family
Reference Groups
Culture
What are the SITUATIONAL factors that affect consumer decision processes? (3)
Purchase Situation
Shopping Situation
Temporal State
Maslow’s Hierarchy of Needs
Top to Bottom:
Self-Actualization
Esteem
Love
Safety
Physiological
