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RIT POM CH 6

TermDefinition
Consumer Behavior how consumers make purchase decisions and how they use and dispose of purchased goods and services.
5 Step Process for Consumer Decision Making •Need Recognition<br>•Information Search<br>•Evaluation of alternatives<br>•Purchase<br>•Post Purchase Behavior<br>
5 Step: Need Regonition Imbalance between actual and desired states
5 Step: Information Search Internal-recalling past info stored in memory<br>External-Seeking Info outside the environment<br>
5 Step: Evaluation of Alternatives Shopping around
5 Step: Purchase to buy product or service
5 Step: Post Purchase Behavior consumers expect certain outcomes from the purchase
Want recognition of an unfulfilled need and a product that will satisfy it
Stimulus any input affecting one or more of the 5 senses:sight, smell, taste, touch, and hearing
Routine Response Behavior purchase that requires little time and research
Limited Decision Making purchase that requires moderate amount of time and research
Extensive Decision Making purchase that requires a lot of time and research
Evoked Set(Consideration Set) Group of brands picked from research which a buyer can choose from
Cognitive Dissonance Inconsistencies between behavior and values or opinions
Reference Group group that influences individual purchasing behavior
Selective Exposure consumers notice certain stimuli and ignores others.
Selective Distortion Consumers change or distort info that conflicts with feelings of beliefs
Selective Retention Consumer remembers info that supports his or her personal beliefs
Maslows Hierarchy of Needs Classifys human needs and motivations into 5 categories. (Ascending order of):Physiological, safety, social, esteem, and Self-actualization
Maslows Needs: Physiological Needs Hunger, Thirst
Maslows Needs: Safety Needs Security, Protection
Maslows Needs: Social Needs Sense of belonging, love
Maslows Needs: Esteem Needs Self esteem, Recognition,status
Maslows Needs: Self-Actualization Needs Self-Development, Self Realization
Created by: thecrew
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