Chapter 4 - Consumer Behaviour Flashcards
what are the five parts for consumer decision process?
Need recognition, Information search, alternative evaluation, purchase decision, post-purchase.
walk me through each step of the consumer process decision
Need Recognition:
Functional needs -thinking about the performance of the product e.g., cheap handbag to carry essentials
Psychological needs –thinking about personal gratification associated with the product e.g., an expensive small handbag is not very functional, but it looks good
Information Search:
Internal search: look at memory and think about what you know
External search: look around at other sources of information (friends, ads, internet etc.)
Alternative Evaluation:
Evaluative criteria: set of features that are important in a good
Determinant attributes: features that are most important to the purchaser
Retrieval Set –long list of options
Evoked Set – short list of options
Purchase and Consumption: Customers are ready to buy
Conversion rate Purchase intention -> purchase behaviour
Post-purchase:
Improve customer satisfaction
Build realistic expectations
Demonstrate correct product use
Encourage customer feedback
Improve customer loyalty
CRM (customer royalty management)
Keep customers happy
Minimize post-purchase dissonance
what is perceived benefit vs cost?
Is it worth the time and effort to search for the information
what is undesirable consumer behaviour
negative word of mouth and rumours toward the product or service
what are the 3 factors that influence consumer buying decisions
Psychological factors, Situational factors, and social factors,
psychological factors: motives, attitudes, perceptions, learning, lifestyle
Social factors: family, reference groups, culture
situational factors: Purchase and shopping situation, and temporal state
what are the two needs in need recognition?
Functional needs -thinking about the performance of the product e.g., cheap handbag to carry essentials
Psychological needs –thinking about personal gratification associated with the product e.g., an expensive small handbag is not very functional, but it looks good
