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MKTG 250 Ch. 5

Vocab Review

TermDefinition
Consumer behavior consist 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 actions
Purchase decision process consists of the five stages a buyer passes
Problem Recognition Perceiving a need. Difference between Consumer’s ideal and actual situation
Information search Seeking value: internal search, external search: personal sources, public sources (Better Business Bureau & Kelly Blue Book), marketer-dominated sources (websites & salespeople).
Alternate evaluation stage Assessing value. Suggest criteria for purchase, yields brands that meet criteria. Develops value perception.
Purchase decision Buying value. Making the purchase decision: Decide from whom to buy and when to buy
Post purchase behavior Realizing value. Customer satisfaction studies: Satisfied customers tell three people. Dissatisfied customers tell nine people. 90 percent of dissatisfied customers will not buy product again. Satisfied buyers will buy from the same seller again.
Involvement the personal, social, and economic significance of the purchase to the consumer
Situational influences: Purchase task reason behind decision.
Situational influences: Social surroundings includes other people
Situational influences: Physical surroundings décor, music, crowds.
Situational influences: Temporal effects time of day and time available
Situational influences: Antecedent states consumer’s mood, circumstances, money.
Perceived risk the anxiety felt because the consumer cannot anticipate the outcomes of a purchase but believes that there may be negative consequences
Brand loyalty a favorable attitude toward and consistent purchase of a single brand over time
Word of mouth influencing of people during conversations.
Opinion leaders individuals who exert direct or indirect social influence over others.
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
Subculture the subgroups within the larger, or national, culture with unique values, ideas, and attitudes.
Created by: dom23uriarte
 

 



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