Class 9 Flashcards
(22 cards)
What are the 5 stages of consumer decision making?
- Problem Recognition
- Research information
- Evaluation of alternative
- Purchase Decision
- Consumption & Learning
What are the 3 types of alternatives?
inert: not come to mind
Inept: not what you were looking for
Evoked: what you take into consideration
What are the two types of evoked set of alternative?
- Retrieval (from memory)
2. Prominent product in environment (ads)
What is the 3 levels of categorization?
- superordinate level (categorie ex: dessert)
- Basic Level (simple categories ex: non-healthy or healthy)
- Subordinate level (all the choices devided for all categories)
What are the 4 implication of product categorization?
Positioning
Competitors
Exemplar Product
Locating Products
What is consumer inertia?
The tendency to buy a brand out of habit merely because it requires less effort
What is brand loyalty?
Repeated purchasing behaviour that reflect a concious decision to continue buying the same brand
What is the evaluation of criteria?
Its the dimensions used to judge merits of competing options
What is determinant attributes?
the features we use to differentiate among our choice
What is non-compensatory rules?
poor in one attributes may eliminate the choice despite its strenght in another
What is compensatory rules?
One poor attribute cam compensated by other good attributes
what are the 4 types of non-compensatory rules?
Lexicographics: best in the most important criteria
Elimination by aspect rules: eliminate with cut-off
Conjunctive: keep if all criteria in over the cut-off
Disjunctive: the option is kept if over one criteria
What are the 2 types of compensatory rules?
simple additive: sum of the scores of each attributes
weighted additive: score based on the weight of the criteria
What is the two stage decision process?
- Awareness set
- non-compensatory methods
- consideration set
- Compensatory methods
- choice
What is the prospect theory?
Consumer are loss adverse, consumer faces options involving gain vs losses.
What is psychological time?
its the consumer perception of time (flow, occasion, deadline, leisure, time to kill)
What are the four dimensions of time?
Social: me vs other
Temporal: significance of past, present, future
Planning: analytical to spontenaous
Polychronic:
Whats Queuing theory?
mathematical study of waiting line
Waiting=good quality
too much=negative
Marketers have to use tricks
What are the 5 types of shopping orientation?
Economic Personalized Ethical Apathetic Recreational
What are e-comm pros and cons?
Good consumer service, technology value for short run product, other services
security, shopping experience, shipping charges
what is expectancy disconfirmation model?
consumers form beliefs based on prior prformance
What are 3 ways consumers can act on dissatisfaction?
voice response: retailer directly
private response: to friend or boycott
third-party: legal actions, yelp, etc
