Chapter 4 (her pwrpoint) Flashcards
Actions a person takes in purchasing and using products and services and includes the mental and social processes that come before and after these actions can be described as
Consumer Behavior
What are the 5 steps of the consumer purchase decision process?
Problem Recognition
Information Search
ALternative Evaluation
Purchase Decision
Postpurchase behavior
Which step of the consumer purchase decision process perceives a need?
Problem recognition
Which step of the consumer purchase decision process seeks value?
Information Search
Which step of the consumer purchase decision process assesses value?
Alternative Value
Which step of the consumer purchase decision process focuses on buying value?
Purchase Decision
Which step of the consumer purchase decision process realizes value?
Postpurhcase Behavior
Why is the consumer purchase decision process important to understand?
- Arouse need in consumer in order to sell product/service
- Steer consumers to their product and close the deal
- Helps marketers effectively communicate with consumerds
T/F- the decision to buy or se a product is triggered by need arousal
True
What are the two types of needs?
Functional Need
Psychological Need
What type of need is based of the performance of a product?
Functional Need
What type of need is based off the gratification associated with the product?
Psychological Need
T/F- The Problem Recognization step of the consumer purchase decision process motivates consumers to find a solution for their needs
True
What are the two types of information search?
Internal Search
External Search
What type of search am I describing?
Memory of past experiences
Frequently purchased items
Internal Search
What type of search am I describing?
Personal, Public, and Market Driven
- When risk of wrong decision is high and cost of gathering info is low
External Search
What are the 4 types of risk associated with information search?
Performance Risk
Physiological Risk
Financial risk
Psychological risk
Objective and subjective attributes of different products/brands are classified as what criteria
can also be expressed as:
Attributes- qualties or features
Evaluative Criteria
The search attributes that help customers evaluate a product before purchase is known as
Tangible
The experience attributes that cannot be evaluated before purchase can be described as
Intangible
All possible choices for a product category can be described as
Universal Set
Choices consumer deems acceptable out of all that is known is considered a
Consideration Set
When a purchase decision is made, tradeoffs are involved. What are 3 examples?
Cheap & Quick= low quality
Fast & good = expensive
Cheap & High quality = low priority
Possible alternatives
are compared and evaluated, whereby
the best option is selected from whom to buy and when to buy is defined as a
Purchase Decision