consists of the actions a person takes in purchasing and using products and services. Including the mental and social processes that come before and after these decisions.

Stages of Purchase Decision Process:

consists of 5 stages a buyer passes through in making choices about which products and services to buy

Stage 1 of Purchase Decision Process:

Problem Recognition, perceiving a need

Stage 2 of Purchase Decision Process:

Information Research, seeking value. Internal vs external search

Stage 3 of Purchase Decision Process:

Alternative Evaluation, assessing value. Suggests criteria for the purchase

Stage 4 of Purchase Decision Process:

Purchase Decision, buying value. Deciding from whom and when to buy.

Stage 5 of Purchase Decision Process:

Post purchase behavior, realizing value. Satisfied customers tell 3 people, dissatisfied tell 9.

personal, social, and economic significance of the purchase to the consumer. Effects problem solving.

Problem Solving Variation: High Involvement, extended problem solving

lots of brands examined, sellers considered, products evaluated, external sources used, and time spent researching. Decreases as you go down.

Problem Solving Variation: Low Involvement, routine problem solving

Maintain product quality and avoid stock outs.

Situational Influences: antecedent effects

consumers mood, circumstances, and money

Consumer journey maps

before, during, and after purchase

anxiety felt because the consumer cannot anticipate the outcomes of a purchase but believes there may be negative consequences.

a favorable attitude toward and consistent purchase of a single brand over time

individuals who exert direct or indirect social influence over others

influencing people during conversations Powerful source for consumers Influencer marketing

consists of the distinct phases that a family progresses through from formation to retirement, each phase bringing with it identifiable purchasing behaviors.

Consumer socialization:

children learn to purchase by their own experience and watching their parents

subgroups within the larger, or national, culture with unique values, ideas, and attitudes

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Chapter 5 Marketing

Term	Definition
Consumer Behavior	consists of the actions a person takes in purchasing and using products and services. Including the mental and social processes that come before and after these decisions.
Stages of Purchase Decision Process:	consists of 5 stages a buyer passes through in making choices about which products and services to buy
Stage 1 of Purchase Decision Process:	Problem Recognition, perceiving a need
Stage 2 of Purchase Decision Process:	Information Research, seeking value. Internal vs external search
Stage 3 of Purchase Decision Process:	Alternative Evaluation, assessing value. Suggests criteria for the purchase
Stage 4 of Purchase Decision Process:	Purchase Decision, buying value. Deciding from whom and when to buy.
Stage 5 of Purchase Decision Process:	Post purchase behavior, realizing value. Satisfied customers tell 3 people, dissatisfied tell 9.
Involvement	personal, social, and economic significance of the purchase to the consumer. Effects problem solving.
Problem Solving Variation: High Involvement, extended problem solving	lots of brands examined, sellers considered, products evaluated, external sources used, and time spent researching. Decreases as you go down.
Problem Solving Variation: Medium Involvement,	limited problem solving
Problem Solving Variation: Low Involvement, routine problem solving	Maintain product quality and avoid stock outs.
Situational Influences: Purchase task	reason behind decision
Situational Influences: Social Surrounding	includes other people
Situational Influences: Physical Surroundings	decor, music, crowds
Situational Influences: temporal effects	time of day and time available
Situational Influences: antecedent effects	consumers mood, circumstances, and money
Consumer touchpoints:	company rating and reviews.
Consumer journey maps	before, during, and after purchase
Perceived risk	anxiety felt because the consumer cannot anticipate the outcomes of a purchase but believes there may be negative consequences.
Brand Loyalty	a favorable attitude toward and consistent purchase of a single brand over time
Opinion of leaders	individuals who exert direct or indirect social influence over others
Word of mouth	influencing people during conversations Powerful source for consumers Influencer marketing
Family Life Cycle	consists of the distinct phases that a family progresses through from formation to retirement, each phase bringing with it identifiable purchasing behaviors.
Consumer socialization:	children learn to purchase by their own experience and watching their parents
Subculture	subgroups within the larger, or national, culture with unique values, ideas, and attitudes

Created by: user-2020714

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