Chapter 6 Flashcards
Consumer Decision Making
Consumer Behavior
Processes a consumer uses to make purchase decisions, as well as to use and dispose of purchased goods or services; also includes factors that influence purchase decisions and product use
Value
A personal assessment of the net worth one obtains from making a purchase, or the enduring belief that a specific mode of conduct is personally or socially preferable to another mode of conduct
Perceived Value
The value a customer expects to obtain from a purchase
The Consumer Decision-Making Process
Need recognition
Information search
Evaluation of alternatives
Purchase
Postpurchase behavior
Need recognition
Result of an imbalance between actual and desired states
Want
Recognition of an unfulfilled need and a product that will satisfy it
Stimulus
Any unit of input affecting one or more of the 5 senses
How do we convince customers that they have a need?
Get them to realize the “want-got gap”
Internal Information Search
The process of recalling information stored in the memory
External Information Search
The process of seeking information in the outside environment
Non-marketing-controlled information source
A product information source that is not associated with advertising or promotion
Marketing-controlled information source
A product information source that originates with marketers promoting the product
Evoked Set
A group of brands resulting from an information search from which a buyer can choose
A customer does what during the evaluation of alternatives step?
Evaluate products based on what is most important to them - evaluative criteria
3 types of purchases
Planned purchase
Partially planned purchase
Impulse purchase
Psychological Ownership
When consumers feel a sense of ownership of a product, they are willing to pay more for it and are more likely to tell other consumers about it
Jilting effect
Anticipation of receiving a highly desirable option only to have it become inaccessible
Cognitive Dissonance
Inner tension that a consumer experiences after recognizing an inconsistency between behavior and values or opinions
Routine Response Behavior
The type of decision making exhibited by consumers buying frequently purchased, low-cost goods and services
Requires little search and decision time
Limited decision making
The type of decision making that requires a moderate amount of time for gathering information and deliberating about an unfamiliar brand in a familiar product category
Extensive decision making
The most complex type of consumer decision making, used when buying an unfamiliar, expensive product or an infrequently bought item
Requires use of several criteria for evaluating options and much time for seeking information
Culture
The set of values, norms, attitudes, and other meaningful symbols that shape human behavior and the products of that behavior as they are transmitted from one generation to the next
Subculture
A homogenous group of people who share elements of the overall culture as well as unique elements of their own group
Social Class
A group of people in a society who are considered nearly equal in status or community esteem, who regularly socialize among themselves both formally and informally, and who share behavioral norms
Reference Groups
All of the formal and informal groups in a society that influence an individual’s purchasing behavior
Primary Membership group
A reference group with which people interact regularly in an informal, face-to-face manner, such as family, friends, coworkers
Secondary Membership Group
A reference group with which people associate less consistently and more formally than a primary membership group, such as a club, professional group, or religious group
Aspirational reference group
A group that someone would like to join
Nonaspirational reference group
A group with which an individual does not want to associate
Opinion Leaders
An individual who influences the opinion of others
Family
Projects the strongest influence on values, attitudes, self-concept, and buying behavior
Personality
A way of organizing an grouping the consistencies of an individual’s reactions to situations
Perception
The process by which people select, organize, and interpret stimuli into a meaningful and coherent picture
Selective Exposure
A process whereby a consumer notices certain stimuli and ignores others
Selective distortion
A process whereby a consumer changes or distorts information that conflicts with his or her feelings or beliefs
Selective Retention
A process whereby a consumer remembers only that information that supports his personal beliefs
Motive
A driving force that causes a person to take action to satisfy specific needs
Learning
A process that creates changes in behavior, immediate or expected, through experience and practice
Experimental learning
Experience changes your behavior
Conceptual learning
Based on reasoning, not acquired through direct experience
