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RIT POM CH 6
Term | Definition |
---|---|
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 |