1. What are the 4 consumer decision makers?
    • Need Recognition
    • Information Search
    • Evaluation of ALternatives
    • Purchase & Postpurchase Beavior
  2. Consumer Decision Making
    Need Recognition
    Need recognition occurs when consumers are faced with an imbalance between actual and desired states that arouses and activates the consumer decision-making process.

    • - Internal stimuli are occurrences you experience, such as hunger or thirst.
    • - External stimuli are influences from an outside source such as someone's recommendation of a new restaurant, the color of an automobile, the design of a package, a brand name mentioned by a friend, or an advertisement on television or radio.
  3. Consumer Decision Making
    Information Search
    • - Internal information search is the process of recalling past information stored in the memory.
    • - External information search is the process of seeking information in the outside environment.

    • - Nonmarketing-controlled information source is a product information source that is not associated with advertising or promotion.
    • - Marketing-controlled information source is a product information source that originates with marketers promoting the product.

    - Experience with the product is important.

    - Aim to get into evoked set (consideration set).
  4. Consumer Decision Making
    Evaluation of Alternatives
    Fishbein and disjunctive models
  5. Consumer Decision Making
    Purchase & Postpurchase Behavior
    Cognitive dissonance is the inner tension that a consumer experiences after recognizing an inconsistency between behavior and values or opinions.
  6. What are the 3 types of consumer buying decisions?
    Extensive, Limited, and Routine Decision Making
  7. Types of Consumer Buying Decisions
    Routine Decision Making
    Routine response behavior is the type of decision making exhibited by consumers buying frequently purchased, low-cost goods and services; requires little search and decision time.

    • - As products become less involving...
    • Buyers see products as commodities, and
    • Buyers become more price sensitive
  8. Types of Consumer Buying Decisions
    Limited Decision Making
    Limited decision making is the type of decision making that requires a moderate amount of time for gathering information and deliberating about an unfamiliar brand in a familiar product category.
  9. Types of Consumer Buying Decisions
    Extensive Decision Making
    Extensive decision making is the most complex type of consumer decision making, used when buying an unfamiliar, expensive product or an infrequently bought item; requires use of several criteria for evaluating options and much time for seeking information

    - People usually experience the most cognitive dissonance when buying in high-involvement products.
  10. Factors Influencing Consumer Decision Making
    Culture, Value, Subculture, and Social Class

    • Social Influences
    • - Reference Groups - aspirational and nonaspirational
    • - Opinion Leaders
    • - Family

    • Individual Influences
    • - Age and Family Life- Cycle Stage
  11. What are the factors influencing consumer decision making?
    • Culture, Values, Subculture, and Social Class
    • Social Influences - Reference Groups, Opinion Leaders, Family
    • Individual Influences - Age and Family Life-Cycle Stage
    • Psychological Influences - Perception, Motivation, Learning, Belief and Attitudes
  12. Culture
    the set of values, norms, attitudes, and other meaningful symbols that shape human behavior and the artifacts, or products, of that behavior as they are transmitted from one generation to the next.
  13. Value
    the enduring belief that a specific mode of conduct is personally or socially preferable to another mode of conduct.
  14. Subculture
    a homogeneous group of people who share elements of the overall culture as well as unique elements of their own group.
  15. Social Class
    a group of people in a society who are considered nearly equal in status or community esteem, who regularly socialize among themselves both formally and informally, and who share behavioral norms.
  16. Reference Groups
    a group in society that influences an individual's purchasing behavior.
  17. Aspirational Reference Group
    a group that someone would like to join.
  18. Nonaspirational Reference Group
    a group with which an individual does not want to associate.
  19. Opinion Leader
    an individual who influences the opinions of others.
  20. Psychological Influences
    • - Perception: Selective Exposure, Selective Distortion, and Selective Retention
    • - Motivation: Maslow's Need Hierarchy (Physiological/Basic; Safety; Social; Esteem; Self-Actualization)
    • - Learning
    • - Beliefs and Attitudes
  21. Perception
    the process by which people select, organize, and interpret stimuli into a meaningful and coherent picture.
  22. Selective Exposure
    the process whereby a consumer notices certain stimuli and ignores others.
  23. Selective Distortion
    a process whereby a consumer changes or distorts information that conflicts with his or her feelings or beliefs.
  24. Selective Retention
    a process whereby a consumer remembers only that information that supports personal beliefs.
  25. Motives
    a driving force that causes a person to take action to satisfy specific needs.
  26. Maslow's Hierarchy of Needs
    a method of classifying human needs and motivations into five categories in ascending order of importance: physiological, safety, social, esteem, and self-actualization.
  27. Learning
    a process that creates changes in behavior, immediate or expected, through experience and practice.
  28. Belief
    an organized pattern of knowledge that an individual holds as true about his or her world.
  29. Attitude
    a learned tendency to respond consistently toward a given object.
Card Set
MKGT351 - Chapter 6