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Marketing 1MA3 > Consumer Behaviour - Chapter 4 > Flashcards

Consumer Behaviour - Chapter 4 Flashcards

1
Q

What are the steps of the Consumer Decision Process

A
  1. Need Recognition
  2. Information Search
  3. Alternative Evaluation
  4. Purchase Decision
  5. Postpurchase
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2
Q

What is Need Recognition about

Consumer Decision Process

A

Occurs when consumers recognize they have an unsatisfied need, and they want to go from their needy state to a different desired state

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3
Q

Functional needs

A

Pertain to the performance of a product or service

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4
Q

Psychological needs

A

Pertain to the personal gratification consumers associate w a product or service

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5
Q

Internal search for information

A

Occurs when buyers examines their own memory and knowledge act the product/service, gathered through past experiences

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6
Q

External search for information

A

Occurs when buyers seek info outside their personal knowledge base to help make the buying decision

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7
Q

Internal locus of control

A

When consumers believe they have some control over the outcomes of their actions, in which case, they generally engage in more search activities

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8
Q

External locus of control

A

Refers to when consumers believe that fate or other external factors control all outcomes

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9
Q

Performance risk

A

Involves the perceived danger inherent in a poorly performing product or service

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10
Q

Financial risk

A

Risk associated w a monetary outlay; includes the initial cost of the purchase, as well as the costs of using the item or service

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11
Q

Social risk

A

Involves the fears that consumers suffer when they worry that others might not regard their purchases positively

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12
Q

Physiological risk

A

Risk associated w the fear of an actual harm should the product not perform properly

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13
Q

Psychological risk

A

Associated w the way ppl will feel if the product/service does not convey the right image

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14
Q

Retrieval sets

A

Consist of those brands or stores that can be readily brought forth from memory

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15
Q

Evaluative criteria

A

Consist of a set of saint, or important, attributes act a particular product that are used to compare alternative products

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16
Q

Determinant attributes

A

Product or service features that r important to the buyer and on which competing brands or stores r perceived to differ

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17
Q

Consumer decision rules

A

The set of criteria consumers use consciously or subconsciously to quickly and efficiently select from among several alternatives

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18
Q

Compensatory decision rule

A

Is at work when the consumer is evaluating alternatives and trades off one characteristic against another, such that good characteristics compensate for bad ones

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19
Q

Non-compensatory decision rule

A

At work when consumers choose a product or service on the basis of a subset of its characteristics, regardless of the values of its other attributes

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20
Q

Decision heuristics

A

Mental shortcuts that help them narrow down their choices; ex: price, brand, and product presentation

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21
Q

Postpurchase dissonance

A

An internal conflict that arises from an inconsistency between 2 beliefs, or between beliefs and behaviour

22
Q

Negative word-of-mouth

A

When consumers spread negative info abt a product, service or store to others

23
Q

Motive

A

A need or want that is strong enough to cause the person to seek satisfaction

24
Q

Physiological needs

A

Relate to the basic biological necessities of life : food, drink, rest, shelter

25
Q

Safety needs

A

Protection and physical well being

26
Q

Love (social) needs

A

Our interactions w others

27
Q

Esteem needs

A

Allow ppl to satisfy their inner desires

28
Q

Self-actualization

A

Occurs when u feel completely satisfied w ur life and how u live

29
Q

Attitude

A

A person’s enduring evaluation of their feelings act and behavioural tendencies toward an object or idea

30
Q

Cognitive component

A

A component of attitude that reflects what we believe to be true

31
Q

Affective component

A

A component of attitude that reflects what a person feels apt the issue at hand - their like or dislike of something

32
Q

Behavioural component

A

A component of attitude that comprises the actions a person takes w regard to the issue at hand

33
Q

Perception

A

The process by which we select, organize and interpret info to form a meaningful picture of the world

34
Q

Learning

A

A change in a person’s thought process or behaviour that arises from experience and takes place throughout the consumer decision process

35
Q

Lifestyle

A

The way consumers spend their time and money to live

36
Q

Reference group

A

One or more persons an individual uses as a basis for comparison regarding beliefs, feelings, and behaviours

37
Q

Situational factors

A

Factors affecting the consumer decision process

38
Q

Involvement

A

The consumer’s degree of interest in or concern art the product or service

39
Q

Extended problem solving

A

A purchase decision process during which the consumer devotes considerable time and effort to analyzing alternatives

40
Q

Limited problem solving

A

Occurs during a purchase decision that calls for, at most, a moderate amt of effort and time

41
Q

Impulse buying

A

A buying decision made by customers on the spot when they see the merchandise

42
Q

Habitual decision making

A

Describes a purchase decision process in which consumers engage w little conscious effort

43
Q

Evoked sets

A

Include only the brands that consumers consider when making a purchase decision

44
Q

Situational factors

A

Can help facilitate purchases

45
Q

Why would customer dissatisfaction occur?

A

When a product fails to live up to high performance expectations

46
Q

When would limited problem solving occur?

A

When the consumer has a purchase decision that calls for, at most, moderate effort & time

47
Q

When do consumers use extended problem solving?

A

Risky purchase decisions

48
Q

Factors Affecting Consumer’s Search Processes

A
  • The perceived benefits vs perceived costs of search
  • The locus of control
  • Actual or perceived risk
49
Q

If firm gets brand into consumer’s evoked set, what happens?

A

Increased the likelihood of purchase and therefore reduced search time because the consumer will think specifically of the brand when considering choices

50
Q

What are the postpurchase outcomes

A

Cusomer Satisfaction
Postpurchase Dissonance (buyer’s remorse)
Customer Loyalty or disloyalty

51
Q

What are the 2 types of buying processes consumers engage in?

A

Extended problem solving
Limited problem solving

Marketing 1MA3 (13 decks)

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