Exam 2 - Ch. 6 Flashcards
(62 cards)
Consumer Behavior
consumer behavior is the set of value-seeking activities that take place as people go about addressing their real needs
select, purchase, use and dispose of goods, services, ideas, or experiences to satisfy needs/ wants
Basic Consumption Process
- Need
- Want
Purchase Decision Made - Exchange
- Cost and Benefits
- Reaction
- Value
Consumption
good, services, ideas used and transferred into value
Consumer
the person who converts the product to value
Exchange
acting out the decision to give up something of greater value
Costs and Benefits
Negative and Positive results of consumption
Consumer Roles
consumer is not always the person buying
- Decider
- Purchaser
- Consumer
Decision Modes
depending on involvement/ perceived risk three decision modes
- Habitual (buy ketchup)
- Limited (going to a movie)
- Extended (buying a car)
Decision Types Comparison Extended vs Habitual * Product *Perceived Risk *Info Processing * Learning Model * Needed Marketing Actions
Extended Habitual
Product - new car - cereal
Perceived Risk - High (important) - Low (unimportant)
Info Processing - Careful processing of info - Respond to environmental ques (the signage)
Learning Model - Cognitive Learning (insight in use of info) - Behavorial Learning (attitude towards product)
Needed Marketing Actions - provide info via advert. (educate consumer) - provides environmental ques at point of purchase
Consumer Decision Making Process
consumers who reach the extended stage often follow these steps
marketers would like you to “consider” your choice
1. Problem Recognition
2. Information Search
3. Evaluation of alternatives
4. Product Choice
5. Post Purchase Evaluation
Problem Recognition
a need is discoved.
marketers may try and help consumers understand the benefits of their proudcts, stimulating need
process that occurs whenever consumers sees a need - intiates process
1st Consumer Decision Making Process
Information Search
if consumers dont have sufficient info, they seek it out externally
marketers try to inform customers at this stage
motivated to search for more data
2nd Consumer Decision Making Process
Evaluation of Alternatives
Evaluation
three sets - incept, awareness, and consideration
marketers work to understand, meet, and change evaluative (compare product) and determinant criteria (features differentiate)
1. identify small # of products of interst
2. focuses on determinant attributes
3rd Consumer decision making process
Product Choice
based on previous info - customer makes a choice
information overload / stress can cause a heuristic choice
4th consumer decision making process
quality, brand loyalty, country of origin
Post Purchase Evaluation
consumers evaluates just how good a choice he/she made
marketers also work after purchase to support consumers
5th consumer decision making process
Consumer Value Framework
CVF
Internal Influences
1. Consumer Psychology - Consumption Process
2. Personality of Consumer - Value, CP, Relationship Qual
External Influences
1. Social Environment - Value
2. Situational Influences - CP
Consumption Process - to - Value (utilitarian, Hedonic) to Relationship Quality
Types of Value
Value?
Value = what you get - what you give (personal assessment of “networth”)
Utilitarian - value from assisting with a task
Hedonic - value from gratification
Perception
a consumer’s awareness and interpretation of reality
value involves learning and consumer value begins with perception
Elements of Perception
Exposure - to - Sensation - to - Attention - to - Interpretation
process by which people select, organize, interpret information from the outside world
Exposure
the extent to which a person’s sensory receptors are capable of registering a stimulus
Element of Perception 1st
Sensation
immediate response to a stimulus
Element of Perception 2nd
Attention
the extent to which a person devotes mental-processing to a particular stimulus
Element of Perception 3rd
Interpretation
process of assigning meaning to a stimulus based on prior associations a person has with it and assumptions he/she makes about it
Element of Perception 4th
Motivation
internal state driving us to satisfy needs (utilitarian/hedonic) by activating goal-oriented behavior
Prospect Theory
people evaluate potential value of losses and gains rather than final outcome
losses are generally more weighted than equal gains
some marketers use fear of loss to motivate consumers
probability distortion
