Exam 2 Study Guide Flashcards
Actions a person takes in purchasing and using products and services which includes the mental and social processes that come before and after these actions is known as
Consumer Behavior
Why is the consumer purchase decision process important?
- Arouses need in consumer in order to sell products/services
- Steer consumers to their product and close the deal
- Helps marketers effectively communicate with consumers
What are the 5 steps of the consumer purchase decision process?
Problem Recognition
Information Search
Alternative evaluation
Purchase Decision
Postpurchase Behavior
The decision to buy or use a product is triggered by
Need Arousal
What are the two types of needs?
Functional
Psychological
What part of the consumer purchase decision perceives a need?
Problem Recognition
What part of the consumer purchase decision seeks value?
Information Search
What part of the consumer purchase decision assesses values of products
Alternative Evaluation
What part of the consumer purchase decision focuses on buying value
Purchase Decision
What part of the consumer purchase decision realizes value?
Post purchase behavior
This type of need can be described as based on the performance of a product
Functional Need
This type of need can be described as based on the gratification associated with the product
Psychological Need
What are the two types of information search?
Internal and External
Which type of information search analyzes memories or past experiences and frequently purchased items?
Internal Search
Which type of information searches are personal, public, and marketer driven?
The risk of wrong decision is high and cost of gathering info is low
External Search
What does stage two of information search consist of?
Risk Types
What are the 4 risk types?
Performance
Physiological
Financial
Psychological
The objective and subjective
attributes of different products/brands is known as
Evaluative Criteria
Search attributes that help customers evaluate a product before purchase can be described as what type of criteria?
Tangible Criteria
Experience attributes attributers cannot be evaluated before purchase this can be described as what type of criteria?
Intangible Critera
All the possible choices for a product category is known as a
Universal set
The choices consumer deems acceptable out of all that is known is described as
Consideration Set
What trade offs are involved with a purchase decision?
Quality: high or low
Price: Expensive or cheap
Control: High or low priority
The possible alternatives
are compared and evaluated, whereby
the best option is selected can be described as a?
Purchase Decision