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the actions a person takes in purchasing products and using services, including the mental and social processes that come before and after these actions

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Consumer behavior

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1. Problem Recognition 2. Information Search 3. Alternative Evaluation 4. Purchase Decision 5. Postpurchase Behavior

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Purchase Decision Process

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the initial step in the purchase decision, is perceiving a difference between a person's ideal and actual situations big enough to trigger a decision

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Problem Recognition

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Involves internal and external searches

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Information search

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First you scan your memory for previous experiences with the product or brand

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Internal Search

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This is needed when previous knowledge is not enough to make a decision. The buyer will use primary sources such as a relative or friend they trust, public sources such as product rating organizations, and marketer dominated sources such as information from sellers included in advertisements, websites etc.

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External Search

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Clarifies the problem for the consumer by suggesting criteria to use for the purchase, yielding brand names that might meet the criteria, developing consumer value perceptions.

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Assessing Value

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Represent both the objective attributes of the brand and the subjective ones you use to compare different products and brands

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Evaluative Criteria

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Who to buy from and when to buy

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Purchase Decision

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The consumer compares it with his or her expectations and is either satisfied or dissatisfied.

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Post purchase Behavior

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1. The purchase task 2. Social Surroundings 3. Physical Surroundings 4. Temporal effects 5. Antecedent State

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Situational Influences

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Motivation and personality, perception, learning, values, beliefs, attitudes and lifestyles are useful for interpreting buying processes and directing marketing efforts

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Psychological Influences

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The energizing force that stimulate behavior to satisfy a need. Consumer needs are the focus of the marketing concept, so marketers try to trigger this arousal

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Motivation

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Refers to a person's consistent behaviors or responses to recurring situations

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Personality

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the process by which an individual selects, organizes, and interprets information to create a meaningful picture of the world

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Perception

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represents the anxiety felt because the consumer cannot anticipate the outcomes of a purchase but believes there may be negative consequences

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Perceived risk

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Refers to those behaviors that result from repeated experience and reasoning

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Learning

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Is the process of developing automatic responses to a situation built up through repeated exposure to it.

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Behavioral Learning

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involves making connections between two or more ideas or simply observing the outcomes of others' behaviors and adjusting your own accordingly

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Cognitive Learning

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a favorable attitude toward and consistent purchase of a single brand over time

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Brand loyalty

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is a "learned predisposition to respond to an object to class of objects in a consistently favorable or unfavorable way

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Attitude

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is a mode of living that is identified by how people spend their time and resources, what they consider important to their environments, and what they think of themselves and the world around them

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Lifestyle

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Evolve from a consumer's formal and informal relationships with other people, also exert a significant impact on consumer behavior. These involve personal influence, reference groups, family influence, social class, culture and subculture

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Sociocultural Influences

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Individuals who exert direct or indirect social influence over others

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Opinion Leaders

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Influencing others purely based off conversation. Most powerful and authentic information source for consumers because it typically involves friends viewed as trustworthy

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Word of mouth

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People to whom an individual looks as a basis for self appraisal or as a source of personal standards. They influence the information, attitudes, and aspiration levels that help set a consumers standards

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Reference Groups

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Process by which people acquire the skills, knowledge, and attitudes necessary to function

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Consumer Socialization

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This concept describes the distinct phases that a family progresses through from formation to retirement, each phase bringing with it identifiable with purchase behaviors

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Family Life Cycle

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Defined as at the relatively permanent, homogenous divisions in a society into which people sharing similar values, interests, and behavior can be grouped. A person's occupation, source of income and education usually determine this

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Social Class

Marketing Terms Chapter 5 – Flashcards

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