Flashcards About Marketing Chapter 6
Unlock all answers in this set
Unlock answersquestion
why
answer
To understand consumer behavior, we must ask _(a)_people buy goods or services
question
Need recognition Information search Alternative evaluation Purchase Post purchase
answer
What are the steps in the consumer buying process?
question
the degree of perceived risk associated with purchasing the product or service
answer
In the information search phase of the consumer buying process, what is the length and the intensity of the search based on?
question
Internal and external
answer
What are the two key types of information search?
question
The perceived benefits versus perceived costs of search
answer
What are the factors that affect information search?
question
Internal locus of control
answer
People who do a lot of research before purchasing individual stocks have an internal or external locus of control?
question
External locus of control
answer
Those who purchase mutual funds are more likely to believe that they can't predict the market and probably have an _(a)_
question
1.) Performance 2.) Financial 3.) Social 4.) Physiological 5. Psychological
answer
What are the various types of perceived risk?
question
Determinant attributes and consumer decision rules
answer
What are two shortcuts consumers utilize to simplify the potentially complicated decision process?
question
looking at the number of real or virtual abandoned carts in the retailer's store or website
answer
What's one method of measuring the conversion rate?
question
Because it entails actual rather than potential customers
answer
Why are marketers particularly interested in postpurchase behavior?
question
1.) Customer satisfaction 2.) Post purchase cognitive dissonance 3.) customer loyalty (or disloyalty)
answer
What are the three possible positive post purchase outcomes?
question
Build realistic, not too high and not too low Demonstrate correct product use--improper usage can cause dissatisfaction Stand behind the product or service by providing money-back guarantees and warranties Encourage customer feedback, which cuts down on negative word of mouth and helps marketers adjust their offerings Periodically make contact with customers and thank them for their support
answer
What are several steps marketers can take to ensure post purchase satisfaction?
question
1.) The elements of the marketing mix 2.) Psychological factors a. influences internal to the customer, such as attitudes, motives, perception, learning and lifestyle 3.) Social factors a. family, reference groups, and culture 3.) Situational factors a. specific purchase situation, a particular shopping situation, or temporal state
answer
What are the factors that influence the consumer decision process?
question
Attitudes learning lifestyle motives perception
answer
What are the psychological factors that affect the way people receive marketer's messages?
question
Physiological Safety Love Esteem Self-actualization
answer
What are the components of Maslow's Hierarchy of Needs?
question
Cognitive affective behavioral
answer
What are the 3 components of an attitude?
question
a.) attitudes b.) perceptions
answer
Learning affects both _(a)_ and _(b)_
question
1.) Offering information 2.) Providing rewards for specific purchasing behaviors 3.) Enhancing a consumer's self image
answer
How do reference groups affect buying decisions?
question
no answer
answer
Which social factors likely have the most influence on (a) the purchase of a new outfit for a job interview and (b) choice of a college to attend?
question
store atmosphere, salespeople, in-store demonstrations, promotions, and packaging
answer
List some of the tactics stores can use to influence consumer's decision processes
question
Extended problem solving Limited problem solving
answer
What are the two types of buying decisions consumers make depending on their level of involvement?
question
Low involvement consumers Less attention Peripheral processing Generates weak attitudes and increased use of cues HIgh involvement consumers Greater attention Deeper processing Develops strong attitudes and purchase intentions
answer
How do low- versus high involvement consumers process the information in an ad?
