Test 2 Flashcards
Need recognition step
- functional needs
- psychological needs
Internal locus of control
More search activities
External locus of control
Fate, external factors
Purchase and consumption step
Increase conversion rate
- reduce abandoned carts
- merchandise in stock
- reduce the actual wait time
Post purchase step
- Customer satisfaction
- customer loyalty
- dissonance (tension or clash)
— a ven diagram of these three things
Evaluation of alternatives step: Attribute sets
Evoked –> Retrieval –> Universal
Evoked set
Comprises the alternative brands or stores that consumer states they would consider when making a purchase decision
Retrieval set
Brands or stores that can be readily brought forth from memory
Universal set
All possible choices for a product category, but because it is unlikely for them to remember all possibilities for every purchase decision, marketers tend to focus on only a subset of choices
Maslows hierarchy of needs
Highest: - self actualization - esteem - love - safety Lowest: - physiological
B2B Buying Process
- Need recognition
- Product specification
- RFP process
- Proposal analysis and supplier selection
- Order specification
- Vendor/performance assessments using metrics
Gatekeeper
The person who controls information or access to decision makers and influencers
Segmentation
- Strategy or objectives
- segmentation methods
Targeting
- evaluate segment attractiveness
- select target market
Segment attractiveness
- identifiable
- substantial
- reachable
- responsive
- profitable
