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42 Cards in this Set
- Front
- Back
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Real People Real Choices
Danny Grossman Wild Planet |
Gender differences in kids
Option 1 – acknowledge that wild planet had missed the mark and drop the line Option 2 - retain existing line concept and develop more products along the lines of those that were already selling Option 3 – boys or girls, gender approach Chose option 3 |
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Steps in the decision making process (5)
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1. problem recognition
2. information search 3. evaluation of alternatives 4. product choice 5. post purchase evaluation |
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Know the order
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Routine response > limited problem solving > extensive problem solving
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Involvement (3)
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-with advertisements
-with products -with purchase decisions |
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Levels of customer engagement (4)
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-confidence
-integrity -pride -passion NOTE: satisfaction is NOT one of these |
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Perceived Risk:
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The belief that choice has potentially negative consequences either financial, physical, or social
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Perceived Risk (5)
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1. monetary
2. functional 3. physical 4. social 5. psychological NOTE: cultural risk is NOT one |
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STEP 1: Problem Recognition
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Sees significant difference from ideal state and current state
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Potential states of problem recognition (3)
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-no problem
- opportunity recognition - need recognition NOTE: Problem avoidance is NOT one |
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STEP 2: Information search
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Internal search
External search |
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Internal search
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An information search in which buyers search their memories for information about products that might solve their problem (memories)
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External search
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An information search in which buyers seek information from outside sources (advertisements, consumer reports)
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STEP 4: Product choice
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Heuristics – a mental rule that lends to a speedy decision by simplifying the process
Brand loyalty Country of origin Ethnocentrism |
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Consumer satisfaction/dissatisfaction
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It is about FULLFILLMENT from a marketing exchange
NOTE: Quality >value > satisfaction >loyalty |
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Problem recognition example
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TV commercials, sharing the excitement of owning a new car
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Product choice
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Advertise made in America
Country origin/stress long history of brand (loyalty) |
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Internal influences on consumer decisions
PERCEPTIONS |
Exposure > attention > interpretation
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3 primary factors that influence consumer decision making:
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1. internal influences
2. social influences 3. situational influences NOTE: advertising is NOT one |
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Internal influences on consumer decisions
SELECTIVE (3) |
Selective exposure
Selective distortion Selective retention |
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Selective exposure
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The process of selecting inputs to be exposed to our awareness while ignoring others. We ignore a lot of potential stimuli
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Selective distortion
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An individuals changing or twisting of info when it is inconsistent with personal feelings or beliefs
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Selective retention
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Remembering info inputs that support personal feelings and beliefs and forgetting inputs that do not
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Internal influences on consumer decisions
MOTIVATION Examples |
Car, furniture, credit cards, country clubs, all focus on EGO needs
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Internal influences on consumer decisions
LEARNING |
Operational conditioning
Stimulus generalization |
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Operational conditioning
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learning that occurs as the result of rewards or punishments (promotions)
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Stimulus generalization
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Behavior caused by a reaction to one stimulus occurs in the presence of another similar stimuli. Pudding and pudding pops
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Internal influences on consumer decisions
ATTITUDES (3) components |
Affect
Cognition Behavior NOTE: learning is NOT one |
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Affect
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The feeling component of attitudes, and refers to the overall emotional response a person has to a product
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Cognition
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The knowing component, is the beliefs or knowledge a person has about a product and its important characteristics
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Behavior
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The doing component, involves a persons intention to do something
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Internal influences on consumer decisions
PERSONALITY (5) |
Innovativeness
Materialism Self-confidence Sociability Need for recognition NOTE: attitude is NOT one |
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Innovativeness
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Innovativeness- the degree to which a person likes to try new things
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Materialism
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Materialism – the amount of emphasis placed on owning products
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Self-confidence
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Self-confidence – the degree to which a person has a positive evaluation of her abilities including the ability to make good decisions
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sociability
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Sociability - the degree to which a person enjoys social interaction
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Need for recognition
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Need for recognition –the degree to which a person likes to think about things and expend the necessary effort to process brand information
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Internal influences on consumer decisions
LIFESTLYES Know the 2 primary dimensions underlying the VALS segmentation |
Primary motivation
Resources |
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Situational influences on consumer decisions
PHYSICAL ENVIRONMENT 2 dimensions |
Arousal and pleasure, determine whether a shopper will react positively or negatively to a store environment
NOTE: quality is NOT one of these dimensions |
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Situational influences on consumer decisions
TIME |
Time poverty- the belief of many consumers that they are more pressed for time than ever before
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Situational influences on consumer decisions
SUB CULTURE |
A group within a society whose members share a distinct set of beliefs, characteristics, or common experiences
(HOGS Harleys owners groups) |
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Situational influences on consumer decisions
GROUP MEMBERSHIPS (3) |
Information influence
Utilitarian influence Value expressive influence NOTE: attitude and influence are NOT one |
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Consumer To Consumer E-Commerce
(5) |
1.multi user dungeons
2. chat rooms, rings and lists 3. boards 4. blogs 5. protest sites NOTE: company websites is NOT one |
