Chapter 6: Consumer Decision Making Flashcards
Consumer behaviour
How consumers make purchase decisions, and how they use and dispose of purchased goods or services; also includes the factors that influence purchase decisions and product use.
Consumer decision-making process
A five-step process used by consumers when buying goods and services. Need recognition, information search, evaluation of alternatives, purchase, post purchase behaviour.
Need recognition
The result of an imbalance between actual and desired states.
Stimulus
Any unit of input affecting one or more of the five senses: sight, smell, taste, touch, hearing.
Engineered demand
Where firms, led by marketers, develop a marketable need not yet known by the consumer.
Need
A state of being where we desire something that we do not possess but yearn to acquire.
Internal information search
The process of recalling information stored in one’s memory.
External information search
The process of seeking information in the outside environment.
Nonmarketing-controlled information source
A product information source not associated with advertising or promotion.
Marketing-controlled information source
A product information source that originates with marketers promoting the product.
Consumer-to-consumer (C2C) reviews
Consumers’ reviews of products on the vendors’ sites where the products were purchased.
Platform
A business model, usually digital, where producers and buyers exchange value.
Evoked set (consideration set)
A group of the most preferred alternatives resulting from an information search, which a buyer can further evaluate to make a final choice.
Decision confirmation
The reaffirmation of the wisdom of the decision a consumer has made.
Cognitive dissonance
The inner tension that a consumer experiences after recognizing an inconsistency between behaviour and values or opinions.
Involvement
The amount of time and effort a buyer invests in the search, evaluation, and decision processes of consumer behaviour.
Routine response behaviour
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.