Term
| Name the steps of the consumer decision process (5) |
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Definition
1. Need Recognition: occurs when consumers recognize they have an unsatisfied ned or want to go from their actual, needy state to a different, desired state (2 types)
2. Search for information: internal and external
3. Evaluation of Alternatives
4. Purchase and Consumption
5. Postpurchase |
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Term
| Name and describe (2) different types of needs |
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Definition
1. Functional needs: pertain to the performance of a product or service
2. Psychological needs: Pertain to the personal gratification consumers associate with a product or service |
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Term
| Name some factors affecting consumers' search processes (4) |
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Definition
1. The perceived benefits versus perceived costs of search
2. Locus of control (internal and external)
3. Actual or perceived risk
4. Type of product or service (specialty, shopping, convenience) |
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Term
| Name (3) criteria used when evaluating alternatives |
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Definition
1. Evaluative criteria
2. Determinant attributes
3. Consumer decision rules |
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Term
| Name (3) kinds of Consumer decision rules |
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Definition
1. Compensatory: used when the consumer is evaluating alternatives and trades off one characteristic against another
2. Non-compensatory: When consumers choose a product or service on the basis of a subset of its characteristics
3. Decision Heuristics: Mental shortcuts that help consumers narrow down choices |
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Term
| Name (3) Decision Heuristics |
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Definition
1. Price
2. Brand
3. Product Presentation |
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Term
| Name (4) possible post purchase outcomes |
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Definition
1. Customer satisfaction
2. Postpurchase dissonance: psychologically uncomfortable state produced by an inconsistency between beliefs and behaviors that in turn evokes a motivation to reduce the dissonance
3. Loyalty
4. Undesirable Consumer behavior |
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Term
| Name (5) steps to ensure postpurchase satisfaction |
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Definition
1. Build realistic expectations
2. Demonstrate correct product use
3. Stand behind the product or service by providing money-back guarantees
4. Encourage customer feedback
5. Periodically make contact with customers |
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Term
| Name (4) types of consumer buying decisions |
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Definition
1. Complex buying behavior: consumers are highly involved in the purchase (expensive, risky)
2. Dissonance reducing buying behavior: consumers perceive few differences among brands
3. Habitual buying behavior: consumers make purchasing decisions with little or no thought
4. Variety-seeking buying behavior: consumers have low involvement but perceive significant differences among brands |
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Term
| Name the (4) factors influencing consumer buying decisions |
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Definition
1. Psychological factors
2. Social factors
3. Culture
4. Situational Factors |
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Term
| Name the (4) psychological factors influencing consumer buying decisions |
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Definition
1. Motives: a need or want strong enough to cause the person to seek satisfaction
2. Attitude: a person's enduring evaluation of his or her feelings about the behavioral tendencies toward an object or idea
3. Perception: the process by which people select, organize, and interpret information to form a meaningful picture of the world
4. Learning: the change in a person's thought process or behavior that arises from experience and takes place throughout the consumer decision process
4. |
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Term
| Name the (4) levels of the PSSP hierarchy of needs |
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Definition
1. Physiological needs
2. Safety needs
3. Social needs
4. Personal needs |
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Term
| Name the (3) components of attitude |
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Definition
1. Cognitive component: reflects what a person believes to be true
2. Affective component: reflects what a person feels about the issue at hand
3. Behavioral component: compromises the actions a person takes with regard to the issue at hand |
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Term
| Name (2) types of social factors that effect consumer buying decisions |
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Definition
1. Family
2. Reference groups |
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Term
| Name (3) situational factors that effect consumer buying decisions |
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Definition
1. Purchase situation
2. Shopping situation
3. Temporal state |
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Term
| Name (6) things that can effect a shopping situation |
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Definition
1. Store atmosphere
2. Salespeople
3. Crowding
4. In-store demonstrations
5. Promotions
6. Packaging |
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