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Consumer Behavior > Test 3 Chpt 12-16 > Flashcards

Test 3 Chpt 12-16 Flashcards

1
Q

Decision making process

A
  1. Need recognition
  2. Search for information
  3. Evaluation of alternatives
  4. Choice
  5. Post-choice evaluation
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2
Q

Rational Decision Making Perspective

A

Assumes that consumers gather information, compare brands, and make informed decisions

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3
Q

Perceived Risk

A

The perception of the negative consequences that could result from a course of action and the uncertainty of which course of action is best.

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4
Q

Financial Risk

A

associated with the cost of the product

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5
Q

Social Risk

A

related to how other consumers will view the purchase

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6
Q

Physical Risk

A

related to the safety of the product and the likelihood of physical harm

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7
Q

Extended Decision Making

A

When consumers tend to search diligently for information that will help them reach a satisfactory decision

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8
Q

Limited Decision Making

A

Consumers search very little for information and make decisions based on prior beliefs about products

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9
Q

Habitual Decision Making

A

Consumers generally do not seek information at all when a problem is recognized (Brand Loyalty)

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10
Q

Need Recognition

A

when a consumer perceives a difference between an actual state and a desired state

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11
Q

Ongoing Search

A

When the search effort is not focused on an upcoming purchase, rather staying focused on up to date interests

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12
Q

Evaluated Criteria

A

Product attributes that consumers consider when reviewing possible solutions to a problem

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13
Q

Quality

A

perceived overall goodness or badness of a product

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14
Q

QR Code (quick response)

A

With this code, consumers can easily gain access to all types of product related information

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15
Q

Product Experience

A

Moderately experienced consumers search for purchase-related information

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16
Q

Involvment

A

Purchase involvement is positively associated with search activities

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17
Q

Perceived Risk

A

As perceived risk increases, search effort increases

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18
Q

Value of Search Effort

A

When the benefits received from searching exceed the associated costs, consumers derive value

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19
Q

Search Regret

A

the negative emotions that come from failed search processes

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20
Q

Feature

A

Performance characteristic of an object

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21
Q

Benefit

A

Perceived favorable result that is derived from the presence of a particular feature.

22
Q

Hedonic Criteria

A

Emotional, symbolic, and subjective attributes or benefits that are associated with an alternative.

23
Q

Bounded Rationality

A

Perfectly rational decisions are not always feasible due to constraints found in information processing.

24
Q

Affect-based Evaluations

A

Consumers evaluate products based on the overall feeling that is evoked by the alternative

25
Q

Attribute- Based Evalutations

A

Consumers evaluate alternatives across a set of attributes that are considered relevant to the purchase situation.

26
Q

Perceptual Attributes

A

Visually apparent and easily recognizable.

Size, shape, color, price

27
Q

Underlying Attributes

A

not readily apparent and can only be learned through experience with the product
(product quality)

28
Q

Product Knowledge

A

As a consumers level of knowledge increases, they are able to focus on criteria that are most important in making a selection.

29
Q

Expert Opinions

A

Brand experts have well developed knowledge for products and services; consumer can be guided by them.

30
Q

Online Sources

A

Popular websites can explain what attributes consumers should consider

31
Q

Marketing Communications

A

Marketers can help promote the attributes that their products excel on.. and attempt to convince consumers that these attributes are important.

32
Q

Just Noticeable Difference (JND)

A

The ability of a consumer to make accurate judgments

33
Q

Compensatory Rules

A

Allows you to select products that may perform poorly on one attribute by compensating for the poor performance by performing well on another one

34
Q

Non-Compensatory Rules

A

Strict guidelines are set prior to selection, and any option that does not meet the specifications is eliminated from considerations.

35
Q

Lexicographic Rule

A

Consumers select the product that they believe performs best on the most important feature.

36
Q

Meaning Transference

A

Process by which cultural meaning is transferred to a product and onto the consumer
-Begins with culture

37
Q

Predictive Expectation

A

Consumer thinks will actually occur during an experience

38
Q

Normative Expectations

A

What should happen given past experiences with product

39
Q

Ideal Expectations

A

Wants to happen during an experience if everything was ideal

40
Q

Equitable Expectations

A

What should happen given the work put into experiences

41
Q

Cognitive Dissonance

A

Lingering doubts about a decision that has already been made

42
Q

Rancorous Revenge

A

When a consumer yells, insults or makes a public scene to harm the business

43
Q

Retaliatory Revenge

A

Consumer becomes violent with employee and tries to vandalize a business

44
Q

Switching Costs

A

Costs associated with changing from one choice to another

45
Q

Costumer Share

A

The portion of resources allocated to one brand from among the set of competing brands.

46
Q

Customer Commitment

A

A sense of attachment with a brand

47
Q

Competence in Relationship Quality

A

Consumer views company and service providers as knowledgeable and capable

48
Q

Personalization in Relationship Quaitly

A

Buyer treats the customer as an individual with unique desires and requirements.

49
Q

Retail Borrowing

A

Purchasing a product for a day, using it, and then returning it

50
Q

Consumerism

A

the activities of various groups to protect basic consumer rights
-Prez Kennedy set up Consumer Bill of Rights

51
Q

Puffery

A

Making exaggerated claims about a products superiority

52
Q

Price Gouging

A

Act of changing a higher than reasonable price for a good that occurs following some kind of natural disaster of event

Consumer Behavior (4 decks)

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