chapter 7

Question 1

What is consumer buying behavior?

Answer 1

the decision process and purchasing of people that buy products for personal or household use

Question 1

What is buying behavior?

Answer 1

the decision process and actions of people that buy and use products

Question 2

What are the 5 steps for the consumer buying decision process?

Answer 2

1. Problem recognition
2. Information search
3. Evaluate alternatives
4. Purchase
5. Post purchase evaluation

Question 3

What are the possible influences on the decision process?

Answer 3

1. Situational influences (surroundings, time, purchase reason)
2. Psychological influences (motivation, attitude, lifestyle)
3. Social influences (family, culture, digital)

Question 4

What is the difference between internal and external search?

Answer 4

Internal is based on memory, while external is based on information from other people/sources

Question 5

(Evaluation of alternatives) What is a consideration set?

Answer 5

A group of brands that sell similar products that a buyer views as alternatives

Question 6

(Evaluation of alternatives) What is evaluation criteria?

Answer 6

Objective/subjective product characteristics that are important to the buyer

Question 7

What is cognitive dissonance?

Answer 7

A buyers doubt/regret after purchasing a product

Question 8

What are the different levels of decision making?

Answer 8

1. Routinized response behavior (low-cost frequently purchased items)
2. Limited decision-making (occasionally purchased product)
3. Extended decision-making (high-cost and infrequently bought items)
4. Impulse buying (giving in to an urge to buy something immediately)

Question 9

What is level of involvement?

Answer 9

A person’s degree of interest/importance in a product

Question 10

What is information inputs?

Answer 10

Sensations received through the 5 senses

Question 11

What is selective exposure?

Answer 11

Some inputs are selected to reach awareness while others are not

Question 12

What 2 conditions are the results of selective nature of perception?

Answer 12

1. Selective distortion - changing or twisting of info that is inconsistent with personal feelings/beliefs
2. Selective retention - remembering info inputs that support feelings/beliefs and forgetting those that don’t

Question 13

What is the perception process?

Answer 13

1. Perception
2. Perceptual organization
3. Interpretation

Question 14

What are the five levels of Maslow’s hierarchy of needs?

Answer 14

1. Physiological
2. Safety
3. Social
4. Esteem
5. Self-actualization

Question 15

What are examples of consumer MISbehavior?

Answer 15

1. Shoplifting
2. Organized retail crime
3. Consumer fraud
4. Piracy
5. Abusive customers

Question 16

What are 4 examples of buying power?

Answer 16

1. Income
2. Disposable income
3. Discretionary income
4. Credit