Chapter 4 Flashcards
(52 cards)
Consumer Decision Process
Step 1: Need Recognition Step 2: Information Search Step 3: Alternative Evaluation Step 4: Purchase Decision Step 5: Postpurchase
Need Recognition
The beginning of the decision process; occurs when consumers recognize they have an unsatisfied need and want to go from their needy state to a different, desired state
Step 1: Need Recognition
- functional needs
- psychological needs
Functional Needs
Pertain to the performance of a product or service
Psychological Neds
Pertain to the personal gratification consumers associate with a product or service
Step 2: Information Search
- internal search for information
- external search for information
- internal locus of control
- external locus of control
- performance risk
- financial risk
- social risk
- physiological risk
- psychological risk
Internal Search for Information
Occurs when the buyer examine his or her own memory and knowledge about the profit or service, gathered through past experiences
External Search for Information
Occurs when the buyer seeks information outside his or her personal knowledge base to help make the buying decision
Internal Locus of Control
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
External Locus of Control
Refers to when consumers believe that fate or other external factors control all outcomes
Performance Risk
Involves that perceived danger inherent in a poorly performing product or service
Financial Risk
Risk associated with a monetary outlay; includes the initial cost of the purchase; as well as the costs of using the item of service
Social Risk
Involves the fears that consumers suffer when they worry that others might not regard their purchases positively
Physiological Risk
Risk associated with the fear of an actual gain should the product not perform properly
Psychological Risk
Associated with the way people will feel if the product or service does not convey the right image
Step 3: Alternative Evaluation
- universal sets
- retrieval sets
- evoked set
- evaluative criteria
- determinant attributes
- consumer decision rules
- compensatory decision rule
- non compensatory decision rule
- decision heuristics
Universal sets
Consist of all possible choices for a product category
Retrieval sets
Consist of those brands or stores that can be readily brought forth from memory
Evoked Set
Comprises the alternative brands or stores that the consumer states would be considered when making a purchase decision
Evaluative Criteria
Consist of a set of salient, or important, attributes about a particular product that are used to compare alternative products
Determinant Attributes
Product or service features that are important to the buyer and on which competing brands or stores are perceived to differ
Consumer Decision Rules
The set of criteria consumers use consciously or subconsciously to quickly and efficiently select from among several alternatives
Compensatory Decision Rule
Is at work when the consumer is evaluating alternatives and trades off one characteristic against another, such that good characteristics compensate for bad ones
Noncompensatory Decision Rule
Is at work when consumers choose a product or service on the basis of a subset of its characteristics, regardless of the values or its other attributes
