Unit 3: Consumer Behavior & B2B Marketing Flashcards
Consumer Behavior
Processes a consumer uses to make purchase decisions, as well as to use and dispose of purchased goods or services; also includes factors that influence purchase decisions and the product use.
cognitive decision making
Purchase decisions that entail a deliberative, information-based processing of relevant product characteristics
ex. buying insurance
emotional decision making
Purchase decisions that entail a subjective liking for one option over another
ex. When a person living in Hawaii falls in love with a wool-lined leather bomber jacket—in spite of its impracticality in a warm climate—emotions are at play.
In some cases, consumers consider (or attempt to consider) all of the attributes that are relevant, making trade-offs between those attributes. This process is called _________________ because a product’s shortcomings on a particular attribute, such as a price that is high, can be compensated for by its strengths on another attribute, such as exceptional styling, which results in a product that consumers still find desirable.
compensatory decision making
For some individuals, the purchase of the early Apple iPhone resulted from a ____________________________ process. Even though these consumers may have had concerns about various features of the product, including faulty WiFi connections, poor battery life, and a high purchase price, they were so delighted with the usability, sleekness, and novelty of the device that they were willing to buy it.
compensatory decision-making
In other cases, consumers may consider some, but not all, of a product’s attributes, ignoring potential tradeoffs between those attributes. This process is termed __________________________.
noncompensatory decision making
a product’s failure to reach an acceptable threshold on one attribute cannot be compensated for by high
performance on another attribute
For many individuals, the choice of an airline flight represents a __________________.
noncompensatory decision
___________________ always consist of at least one person—the buyer—but often include many additional individuals, each of whom can push the buyer toward (or away from) the actual purchase decision.
Decision-making units
Purchase decisions in which the buyer is fully engaged, the decision making tends to be effortful, the time frame tends to be relatively long, and the consequences of making a good versus a bad choice tend to be great and visible
high-involvement decision making
Purchase decisions that require little effort, happen quickly, and are perceived by consumers as having low risk
low-involvement decision making
purchasing gum in a convenience store, buying a soda with lunch, or extending a monthly fitness club membership
low-involvement
Purchase decisions in which consumers are motivated to purchase the best alternative they can
optimizing decision making
Purchase decisions in which consumers settle for an alternative that is “good enough” or that passes some acceptable threshold
“satisficing” decision making
The purchase decision process can be broken down into the following categories:
need recognition, information search, evaluation of alternatives, purchase, and postpurchase behavior
A customer is planning to purchase a car after being involved in an accident in which their car was “totaled” (i.e., damaged beyond what the insurance company will agree to repair). Because this all happened so suddenly, they need to make the purchase fairly quickly. Rather than examining all of the possible features of a car and all of the possible car brand options, they are only looking for a used sport-utility vehicle that was made in the last 3 years, has under 40,000 miles, and costs less than $25,000. Marketers refer to this type of decision making as:
Noncompensatory Decision Making
