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13 Cards in this Set
- Front
- Back
Importance of Understanding Consumer Behavior |
Understanding what consumers do, and why they do it is a vital first step towards beings able to predict and ultimately influence their behavior |
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Consumer Purchase Decision Process |
a 5-step process used by consumers when buying goods or services. Consists of: problem/need recognition, information search, evaluation of alternatives, purchase decision, post-purchase behavior |
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Consumer Purchase Decision Process Step 1: Problem/Need Recognition |
External and internal stimuli (difference between person's actual situation and person's ideal situation) |
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Consumer Purchase Decision Process Step 2: Information Search |
internally recall information from memory; externally personal sources, public sources, marketing controlled sources, experiential sources. Looks for brand names, criteria to judge brands, consumer value perceptions this generates awareness about all brands that could satisfy the need |
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Consumer Purchase Decision Process Step 3: Evaluation of Alternatives |
analyze using evaluative criteria (objective criteria-price, size, material; subjective criteria-brand image, value), evoked set or consideration set (group of acceptable brands (based on analysis evaluative criteria), choice (based on ranking of evoked set |
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Consumer Purchase Decision Process Step 4: Purchase Decision |
Where to buy the product and when to buy it |
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Consumer Purchase Decision Process Step 5: Post-Purchase Decision |
consumer satisfaction is a function of consumer expectations and perceived product performance: performance < expectations = disappointment performance = expectations = satisfaction performance > expectations = delight The level of satisfaction will influence repeat purchase |
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Consumer Purchase Decision Process Step 5: Post-Purchase Decision Cognitive Dissonance |
buyer discomfort caused by post-purchase conflict; affects major purchases, anxiety of not knowing if the right choice was made; customer follow-up programs help to reduce this problem. To reduce cognitive dissonance customer can: justify decision, seek new info, avoid contradictory info, return product. Marketer can: send post-purchase thank you letter, display product superiority in ads, offer guarantees |
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Influences on the Consumer Purchase Decision Process |
marketing mix influences, sociocultural influence, situational influences, psychological influences |
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Influences on the Consumer Purchase Decision Process: Marketing Mix Influences |
product, price, place, promotion (4Ps) |
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Influences on the Consumer Purchase Decision Process: Sociocultural Influence |
personal influence (opinions, word of mouth), reference of groups, family, social class (similar attitudes within similar classes) |
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Influences on the Consumer Purchase Decision Process: Situational Influences |
purchase task (to who is the purchase), social surroundings (who else is present when purchase is made), physical surroundings (unpleasant vs. pleasant atmosphere), temporal effects (when customers purchase), antecedent states (mood, clothes you're wearing, cash on hand) |
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Influences on the Consumer Purchase Decision Process: Psychological Influences |
motivation (driving force that causes a person to take action to satisfy needs), personality (influences what customers are buying), perception (anxiety felt during purchasing process), learning (experience, thinking), values/beliefs/attitudes (attitudes are shaped by values and personal beliefs), lifestyle (how people spend time and money |