Grewal Levy Marketing Ch 6

Alternative Evaluation
when consumers look at all of their options and evaluate them
a person’s enduring evaluation of his or her feelings about and behavioral tendencies toward an object or idea. They are learned and long-lasting and may develop over a long period of time, though they can also abruptly change
Cognitive Dissonance
an internal conflict that arises form an inconsistency between two beliefs, or between beliefs and behaviors
Customer Loyalty
a loyal relationship between marketers and consumers where the customer only buys from certain brands and shops at certain stores, and they include no other firms in their evoked set. These customers are very valuable
Extended Problem Solving
A purchase decision process during which the consumer devotes considerable time and effort to analyzing alternatives. This is common when the purchase decision entails a lot of risk
Limited Problem Solving
occurs during a purchase decision that calls for, at most, a moderate amount of effort and time
Maslow’s Hierarchy of Needs
a paradigm classifying people’s needs into 5 categories: physiological, safety, love, esteem and self-actualization
Need Recognition
the recognition of an unsatisfied need, and the desire to go from one’s needy state to a different desired state
when customers buy the product. Retailers use various tactics to increase the chances of converting positive evaluations into purchases
there are three possible outcomes: customer satisfaction, post purchase dissonance, and customer loyalty
Reference Group
one or more people whom an individual uses as a basis for comparison regarding beliefs, feelings, and behaviors
Information Search
the search for information about the various options that exist to satisfy a need. Involves internal searches where the buyer examines his or her own memory and knowledge about the product or service form past experiences and external searches where information is found form outside one’s personal knowledge
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