Marketing Chapter 6, Grewal – Flashcards
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need recognition
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the beginning of the consumer decision; occurs when consumers recognize they have an unsatisfied need and want to go form their actual, needy state to a different desired state
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functional needs
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pertain to the performance of a product or service
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psychological needs
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pertain to the personal gratification consumers associate with a product or service
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internal search for information
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occurs when the buyer examines his or her own memory and knowledge about the product or service, gathered through past experiences
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external search for information
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occurs when the buyer seeks information outside his or her personal knowledge base to help make the buying decision
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internal locus of control
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refers to when consumers believe they have some control over the outcomes of their actions, in which case they generally engage in more search activities
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external locus of control
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refers to when consumers believe that fate or other external factors control all outcomes
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Factors affect consumers' search processes
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1. the perceived benefits vs. perceived costs of search 2. the locus of control 3. actual or perceived risk
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performance risk
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involves the perceived danger inherent in a poorly performing product or service
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financial risk
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risk associated with a monetary outlay; includes the initial cost of the purchase, as well as the costs of using the item or service
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social risk
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the fears that conusmers suffer when they worry others might not regard their purchases postively
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physiological risk
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the fear of an actual harm should a product not perform properly
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safety risk
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psychological risk
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psychological risks
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associated with the way people will feel if the product or service does nnot convey the right image
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universal sets
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includes all possible choices for a product-category
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retrieval sets
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includes those brands or stores that the consumer can readily bring forth from memory
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evoked set
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comprises the alternative brands or stores that consumer states he or she would consider when making a purchase decision
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evaluative criteria
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consist of a set of salient, or important, attributes about a particular product
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determinant attributes
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product or service features that are important to the buyer and on which competing brands or stores are perceived to differ
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consumer decision rules
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the set of criteria that consumers use consciously or subconsciously to quickly and efficiently select form among several alternatives
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compensatory decision rule
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at work when the consumer is evalauting alternatives and trades off one characteristic against another, such that good characteristics compensate for bade one
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multi-attribute model
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a compensatory model of customer decision making based on the notion that customers see a product as a collection of attributes or characteristics. the model uses a weighted average score based on the importance of various attributes and performance on those issues.
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noncompensatory decision rule
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at work when consumers choose a product or service on the basis of a subset of its characteristics, regardless of the values of its other attribute
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conversion rate
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percentage of consumers who buy a product after viewing it
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postpurchase cognitive dissonance
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the psychologically uncomfortable state produced by an inconsistency between beliefs and behaviors that in turn evokes a motivation to reduce the dissonance; buyers' remorse
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components of postpurchase outcomes
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customer satisfaction, postpurchase dissonance, customer loyaltyh
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negative word of mouth
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occurs when consumers spread negative information about a product, service, or store to others
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motive
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a need or want that is strong enough to cause the person to seek satisfaction
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maslow's hierarchy of needs
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a paradigm for classifying people's for classifying people's motives. It argues that when lower-level, more basic needs; see physiological, safety, social, and personal needs
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physiological needs
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those relating to the basic biological necessities of life, food, drink, rest, and shelter
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safety needs
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one of the needs in the PSSP hierarchy of needs; pertain to protection and physical well-being
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love needs
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needs expressed through interactions with others
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esteem needs
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needs that enable people to fulfill inner desires
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self-actualization
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when a person is completely satisfied with his or her life
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factors affecting the consumer decision process
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marketing mix, psychological factors, social factors, situational factors
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marketing mix
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product, price, place, promotion
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social factor
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family, reference groups, culture
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situational factors
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purchase situation, shopping situation, temporal state
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psychological factors
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motives, attitudes, perceptions, learning, lifestyle
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maslow's hierarchy of needs
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1. self-actualization 2. esteem 3. love 4. safety 5. physiological
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attitude
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a person's enduring evaluation of his or her feelings about and behavioral tendencies toward an object or idea; consists of three components: cognitive, affective, and behavioral
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cognitive component
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a component of attitude that eglects what a person believes to be true
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affective component
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a component of attitude that reflects what a person feels about the issue at hand, his or her like or dislike of somethingperception
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behavioral component
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a component of attitude that comprises the actions a persona takes with regard to the issue at hand
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perception
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the process by which people select, organize, and interpret information to form a meaningful picture of the world
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learning
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refers to a change in a person's thought process or behavior that arises from experience and takes place throughout the consumer decision process
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lifestyle
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a component of psychographics; refers to the way a person lives his or her life to achieve goals
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reference group
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one or more persons whom an individual uses as a basis or comparison regarding beliefs, feelings and behaviors
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culture
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the set of value, guiding beliefs, understanding, and ways of doing things shared by members of a society
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situational factors
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factors affecting the consumer decision process
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involvement
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consumer's interest in a product or service
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extended problem solving
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a purchase decision process during which the consumer devotes considerable time and effort to analyzing alternatives
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limited problem solving
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occurs during a purchase decision that calls for, at most, a moderate amount of effort and time
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impulse buying
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a buying decision made by customers on the spot when they see the merchandise
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habitual decision making
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a purchase decision process in which consumers engage with little conscious effort
