Understanding Consumer Behaviour Flashcards
High Involvement Purchases
Involve goods or services that are psychologically important to the buyer because they address social or ego needs and therefore carry social and psychological risks (financial)
High Involvement Purchase Steps (5)
- Problem Identification
- Information Search
- Evaluation of Alternatives
- Purchase
- Post Purchase Evaluation
Factors Likely to Increase Pre-purchase Information Search (3)
- Product
- Situational (experience, social acceptability)
- Personal (demographic characteristics, personality)
Sources of Information
personal, commercial, public
Evoked Set
a limited number of familiar brand alternatives that satisfy needs
Choice Criteria
limited number of product dimensions or attributes and their relative importance
Product Attributes
cost, performance, social availability
Post-Purchase Evaluation (2)
- Aspiration or expectation level
2. Product performance
purchasing inertia
Low involvement repeat purchases to avoid decisions. Not actual brand loyalty
impulse buying
buy different brand for variety
ROPO
research online, purchase offline
Marketing Decisions (4)
product, price, promotional, distribution
Psychological variables that affect consumer decision making
perceptions, memory, needs, attitudes influenced by demographic and lifestyle variables
perception
process to select, organize, and interpret information
Selectivity
consumers pick and choose only selected pieces of information and ignore the rest
Perceptual vigilance
pay particular attention to information related to needs and wants to satisfy and particular brands for purchase
perceptual deference
avoid information that contradicts their current beliefs and attitudes
short term memory
forget most within 30 seconds or less because of inattention or displacement of new information
long term memory
information must be actively rehearsed and internalized
categorization
classify new information from past experience
integration
perceive separate pieces of related information as an organized whole
attitude
positive or negative feeling about an object (brand) that predisposes a person to behave in a particular way toward that object
Fishbein Model
Attitude A = Attitude toward Brand A
Belief i = Belief on the extent attribute i is associated with Brand A
I i = Importance of attribute i to consumer
K = total number of attributes
i = any specific product attribute
Lexiographic Model
consumer evaluates product on most important attribute
changing consumer attitudes (5)
- change attitude to product class
- change importance of attribute(s)
- add a salient attribute
- improve ratings on attribute(s) through advertising
- lower rating on attribute(s) of competing brands
Demographic influence (4)
- nature of consumer needs and wants
- ability to purchase
- importance of attributes and choice criteria
- consumer attitudes toward products and brands
personality
consumer choose products that match their self concept or ideal self concept
lifestyle
broad patterns of activities, interests, and opinions - and the behaviour that results
social influences
culture, subculture, social class, reference groups, family
culture
set of beliefs, attitudes, behaviour patterns, shared in a society and socialized generation to generation
subculture
people with common geographical, ethnic, religious background, holding unique beliefs, attitudes, and behavior patterns
social class
status groupings based on similar income, education, and occupation
reference groups
groups that affect consumer behaviour through normative compliance (frats), value expressed influence (social media influencers), informational influence (Netflix suggestions)
family
primary socialization agent helping members acquire skills, knowledge, and attitudes, to be consumers
