Flashcards About Marketing Chapter 6

question

To understand consumer behavior, we must ask _(a)_people buy goods or services
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why
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What are the steps in the consumer buying process?
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Need recognition Information search Alternative evaluation Purchase Post purchase
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In the information search phase of the consumer buying process, what is the length and the intensity of the search based on?
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the degree of perceived risk associated with purchasing the product or service
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What are the two key types of information search?
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Internal and external
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What are the factors that affect information search?
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The perceived benefits versus perceived costs of search
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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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Internal 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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External locus of control
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What are the various types of perceived risk?
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1.) Performance 2.) Financial 3.) Social 4.) Physiological 5. Psychological
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What are two shortcuts consumers utilize to simplify the potentially complicated decision process?
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Determinant attributes and consumer decision rules
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What’s one method of measuring the conversion rate?
answer

looking at the number of real or virtual abandoned carts in the retailer’s store or website
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Why are marketers particularly interested in postpurchase behavior?
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Because it entails actual rather than potential customers
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What are the three possible positive post purchase outcomes?
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1.) Customer satisfaction 2.) Post purchase cognitive dissonance 3.) customer loyalty (or disloyalty)
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What are several steps marketers can take to ensure post purchase satisfaction?
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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 the factors that influence the consumer decision process?
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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 psychological factors that affect the way people receive marketer’s messages?
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Attitudes learning lifestyle motives perception
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What are the components of Maslow’s Hierarchy of Needs?
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Physiological Safety Love Esteem Self-actualization
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What are the 3 components of an attitude?
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Cognitive affective behavioral
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Learning affects both _(a)_ and _(b)_
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a.) attitudes b.) perceptions
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How do reference groups affect buying decisions?
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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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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?
answer

no answer
question

List some of the tactics stores can use to influence consumer’s decision processes
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store atmosphere, salespeople, in-store demonstrations, promotions, and packaging
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What are the two types of buying decisions consumers make depending on their level of involvement?
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Extended problem solving Limited problem solving
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How do low- versus high involvement consumers process the information in an ad?
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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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