Flashcards About Marketing Chapter 6
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The perceived benefits versus perceived costs of search
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What are the factors that affect information search?
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Internal locus of control
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People who do a lot of research before purchasing individual stocks have an internal or external locus of control?
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External locus of control
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Those who purchase mutual funds are more likely to believe that they can't predict the market and probably have an _(a)_
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1.) Performance 2.) Financial 3.) Social 4.) Physiological 5. Psychological
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What are the various types of perceived risk?
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Determinant attributes and consumer decision rules
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What are two shortcuts consumers utilize to simplify the potentially complicated decision process?
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looking at the number of real or virtual abandoned carts in the retailer's store or website
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What's one method of measuring the conversion rate?
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Because it entails actual rather than potential customers
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Why are marketers particularly interested in postpurchase behavior?
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1.) Customer satisfaction 2.) Post purchase cognitive dissonance 3.) customer loyalty (or disloyalty)
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What are the three possible positive post purchase outcomes?
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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
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What are several steps marketers can take to ensure post purchase satisfaction?
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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
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What are the factors that influence the consumer decision process?
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Attitudes learning lifestyle motives perception
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What are the psychological factors that affect the way people receive marketer's messages?
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Physiological Safety Love Esteem Self-actualization
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What are the components of Maslow's Hierarchy of Needs?
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Cognitive affective behavioral
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What are the 3 components of an attitude?
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a.) attitudes b.) perceptions
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Learning affects both _(a)_ and _(b)_
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1.) Offering information 2.) Providing rewards for specific purchasing behaviors 3.) Enhancing a consumer's self image
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How do reference groups affect buying decisions?
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no answer
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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?
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store atmosphere, salespeople, in-store demonstrations, promotions, and packaging
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List some of the tactics stores can use to influence consumer's decision processes
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Extended problem solving Limited problem solving
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What are the two types of buying decisions consumers make depending on their level of involvement?
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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
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How do low- versus high involvement consumers process the information in an ad?
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