Consumer Behavior
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| Purchasing Decision Process | 1. Problem recognition 2. Information Search 3. Alternative evaluation 4. Purchase Decision 5. Postpurchase behavior
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| Internal Search | search based on information stored in memory
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| External Search | Personal, Marketing based input, Public Info.
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| Evoked Set | the products or brands that the consumer would consider acceptable from the products / brands of which he or she is aware
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| Evaluative Criteria | product attributes and other factors that one uses to evaluate members of the consideration set
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| Marketers Goal = | get your brand into the evoked set and match up well against the customer’s evaluative criteria
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| Compensatory | low evaluated thing can be compensated for other thing
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| Non-Compensatory | No matter what else that one thing is so low it cant be compensated for
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| Benefits | Functional, Personal, Social, Experiential.
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| Costs | Monetary, temporal, psychological, behavioral
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| Involvement | consists of the personal, social, and economic significance of the purchase to the consumer
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| Problem Solving Variations | Routine Problem Solving (low involvement), Limited Problem Solving, Extended Problem Solving (High Involvement)
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| Purchase Decision | maximizing value – What are some ways to “tilt the odds in your favor?”
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| Postpurchase Behavior | Value in Consumption or Use
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| Post-Purchase Dissonance | the feeling of postpurchase psychological tension or anxiety consumers may experience when the product fails to meet expectations at some level
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| Dan Ariely Takeaway | Risk avoidance Cognitive misers Numerical ability “Schein vs Sein”
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| Influence on Consumer Purchase Decision Process | Psychological Influence, Marketing Mix influences, Sociocultural influences, Situational Influences
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| Psychological Influences on Purchasing Decision | Motivation, Psychological Needs,Safety Needs, Social/Love needs, Personal/esteem needs, Self-Actualization Needs
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| Maslow's Hierarchy of Needs (bottom to top) | Physiological Needs, Safety Needs, Social Needs, Person Needs, Self Actualization Needs
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| Personality | refers to a person’s consistent behaviors or responses to recurring situations.
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| Learning | refers to those behaviors that result from (1) repeated experience and (2) reasoning.
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| Psychological Influences on Consumer Behavior | Values, Beliefs, Attitudes
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| Sociocultural Influences on Consumer Behavior | Personal Influence, Opinion Leadership (opinion leaders, word-of-mouth
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| Brand Loyalty | a favorable attitude toward and consistent purchase of a
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| Reference Groups | Membership Group, Aspiration Group, Dissociative Group
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| Consumer Socialization | The process by which people acquire the skills, knowledge, and attitudes necessary to function as consumers
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| Lifestyle | a mode of living that is identified by how people spend their time and resources, what they consider important in their environment, and what they think of themselves and the world around them.
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| attitude | a "learned predisposition to respond to an object or class of objects in a consistently favorable or unfavorable way
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| Beliefs | a consumer's subjective perception of how a product or brand performs on different attributes
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| Motivation | the energizing force that stimulates behavior to satisfy a need.
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| Opinion Leaders | Individuals who exert direct or indirect social influence over others
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| Perceived Risk | represents the anxieties felt because the consumer cannot anticipate the comes of a purchase but believes there may be negative consequences.
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| Perception | the process by which an individual selects, organizes, and interprets information to create a meaningful picture of the world
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| Subliminal Perception | means that you see or hear messages without being aware of them
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| Reference groups | people to whom an individual looks as a basis for self-appraisal or as a source of personal standards
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| Self-Concept | the way people see themselves and the way they believe others see them
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| Social Class | the relatively permanent, homogeneous divisions in a society into which people sharing similar values, interests and behavior can be grouped
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| Subcultures | subgroups within the larger, or national, culture with unique values, ideas, and attitudes
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