Chapter 5 - Consumer Behaviour Flashcards
What are the 5 steps in the consumer buying process
- Need recognition
- Information search
- Alternative evaluation
- Purchase
- Postpurchase
What does the consumer buying process mode represent?
The steps consumers go through before, during and after purchases
What is a functional need?
Functional needs pertain to the performance of a product
What is a psychological need?
Psychological needs pertain to the personal gratification consumers associate with a product/service
What 3 factors affect information search?
- Perceived benefits vs. cost
- Locus of control
- Actual/perceived risk
What are the three possible postpurchase outcomes?
Customer satisfaction
Postpurchase dissonance
Customer loyalty
What is customer satisfaction?
The consumers expectations vs reality of the product/service
Explain postpurchase dissonance
When a consumer questions the appropriateness of a purchase
Why is customer loyalty important to a firm?
These customers constantly go back to purchase more from the company
What are the 4 factors that affect the consumer decision process?
Marketing mix
Psychological factors
Situational factors
Social factors
How does involvement influence a consumers decision process?
Consumers make two types of buying decisions depending on their level of involvement.
What are the two types of buying decisions and their level of involvement
Extended problem solving - high involvement
Limited problem solving - low involvement
