Chapter 4

Question 1

What is the consumer decision process

Answer 1

1. Need recognition
2. Informations search
3. Alternative Evaluation
4. Purchase Decision
5. Postpurchase

Question 2

Explain step 1 of consumer decision process (Need Recognition)

Answer 2

Satisfies functional or psychological needs

Question 3

Explain step 2 of consumer decision process (information search)

Answer 3

Internal search and external search *** research

Question 4

Factors affecting consumers’ search processes

Answer 4

1. Actual or Perceived Risk
2. Perceived Benefit vs Perceived Costs
3. Locus of Control

Question 5

Explain the Actual vs Perceived Risk (5)

Answer 5

1. Performance risk
2. Financial risk
3. Social risk
4. Physiological risk
5. Psychological risk

Question 6

Explain step 3 of consumer decision process (Alternative Evaluation)

Answer 6

1. Evaluative Criteria
2. Determinant Attributes
3. Heuristics
4. Compensatory & Non-compensatory

Question 7

Explain step 4 of consumer decision process (Purchase Decision)

Answer 7

Customers are ready to buy

Question 8

Explain step 5 of consumer decision process (Post-purchase)

Answer 8

3 potential outcomes
1. customer satisfaction (+)
2. postpurchase dissonance (-)
3. Customer loyalty (+)

Question 9

Factors influencing consumer buying decisions (3)

Answer 9

1. Psychological Factors
2. Social Factors
3. Situational Factors

Question 10

what are in the psychological factors (5)

Answer 10

1. motives
2. attitudes
3. perceptions
4. learning
5. lifestyle

Question 11

what are in the social factors (3)

Answer 11

1. family
2. reference groups
3. culture

Question 12

what are in the situational factors (3)

Answer 12

1. purchase situation
2. shopping situation
3. temporal state