Mrkting2 Flashcards
- is the stduy of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satsify needs and the impacts that these processes have on the consumer and society.
Consumer behavior
Consumer Behavior
decisions, as well as to use and dispose of purchased goods or services; also includes factors that influence purchase decisions and product use
Consumer Behavior
Types of Buying Decisions
occurs when consumers devote considerable time and effort to analyze alternatives (high risk) Example: buying a house
Extended problem solving:
Types of Buying Decisions
occurs when a purchase decision calls for a moderate amount of effort and time. (moderate risk) Ex: buying a phone
Limited problem solving:
Types of Buying Decisions
occurs when consumers engage with little conscious effort (low risk) Ex: buying food
Habitual decision making:
buying decision made by customer on spot when they see merchandise
Impulse buying:
CONSUMER DECISION MAKING PROCESS
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2)
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4)
5)
CONSUMER DECISION MAKING PROCESS
1) Need Recognition
2) Information Search
3) Evaluation of Alternatives
4) Purchase decision
5) Postpurchase Behavior
Consumer Decision-Making Process
: result of an imbalance between actual and desired states
when you have seen TV commercials for a new sport car and wanted to buy it
e.g. when you hear your stomach growl and then realize that you are hungry
Need Recognition
External Stimulus e.g
Internal Stimulus.
Materials Perceive as Functionally Superior
is a waterproof/breathable fabric, and a registered trademark of W.L. Gore & Associates.
is a trademark of the 3M Corporation, for a type of synthetic fiber thermal insulation used in clothing.
is a trademark for a fabric innovation for performance apparel and accessories e.g. odor resistance, durable water repellency, sun protect technology, and flame resistance.
Gore-Tex
Thinsulate
Polartec
Consumer Decision-Making Process
after recognizing a need or want, consumer search for information about the various alternatives available to satisfy it
____the process of recalling past information stored in the memory
___ the process of seeking information in the outside environment
Information Search:
Internal information search:
_External information search:
Factors Affecting Consumers’ Search Processes
_______Is it worth the time & effort to search for info. about product/service?
the perceived benefits VS. perceived costs of search:
Factors Affecting Consumers’ Search Processes
The locus of control:
= people who believe they have some control over the outcomes of their actions = search more for info.
= people who believe the fate or external factors control all outcomes = search less for info.
Internal
External
Factors Affecting Consumers’ Search Processes
Actual or perceived risk: = do more searching for info.
= involves the perceived danger inherent in poorly performing product/service
= is associated with money both initial cost of purchase and costs of using product/service
= are associated with the way people will feel if product/service doesn’t convey the right image
higher risk
Performance risk
Financial risk
Psychological risks
Factors Affecting Consumers’ Search Processes
Type of product or service:
= products/services toward which customers show a strong preference = they will expend considerable effort to search for the best suppliers
= products/services consumers will spend time comparing alternatives
= products/services consumers are not willing to spend any effort to evaluate prior to purchase
Specialty
Shopping
Convenience
Consumer Decision-Making Process Evaluation of Alternatives:
= sets of alternative choices
= all possible choices for the product category
= brands/stores can be readily brought forth from memory
= alternative brands/stores consumers states he/she would consider when making purchase decision
= product/service features that are important to buyer and other choices are perceived to differ
Consumer decision rules = set of criteria consumers use to quickly & efficiently select from among alternatives
= good characteristics compensate for bad characteristics when consumer evaluating alternatives (based on overall features of concerns)
= consumers choose product/service on basis of subset of its characteristics, regardless of values of other attributes (based on specific feature of concern)
= consumers choose based on their self preferences e.g. price, brand, or product presentation
Attribute sets
Universal sets
Retrieval sets
Evoked sets
Determinant attributes
Consumer decision rules
Compensatory
Noncompensatory
Decision heuristics
