Chapter 6: Consumer Decision Making Flashcards Preview

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Flashcards in Chapter 6: Consumer Decision Making Deck (47)
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1

Consumer behaviour

How consumers make purchase decisions, and how they use and dispose of purchased goods or services; also includes the factors that influence purchase decisions and product use.

2

Consumer decision-making process

A five-step process used by consumers when buying goods and services. Need recognition, information search, evaluation of alternatives, purchase, post purchase behaviour.

3

Need recognition

The result of an imbalance between actual and desired states.

4

Stimulus

Any unit of input affecting one or more of the five senses: sight, smell, taste, touch, hearing.

5

Engineered demand

Where firms, led by marketers, develop a marketable need not yet known by the consumer.

6

Need

A state of being where we desire something that we do not possess but yearn to acquire.

7

Internal information search

The process of recalling information stored in one's memory.

8

External information search

The process of seeking information in the outside environment.

9

Nonmarketing-controlled information source

A product information source not associated with advertising or promotion.

10

Marketing-controlled information source

A product information source that originates with marketers promoting the product.

11

Consumer-to-consumer (C2C) reviews

Consumers' reviews of products on the vendors' sites where the products were purchased.

12

Platform

A business model, usually digital, where producers and buyers exchange value.

13

Evoked set (consideration set)

A group of the most preferred alternatives resulting from an information search, which a buyer can further evaluate to make a final choice.

14

Decision confirmation

The reaffirmation of the wisdom of the decision a consumer has made.

15

Cognitive dissonance

The inner tension that a consumer experiences after recognizing an inconsistency between behaviour and values or opinions.

16

Involvement

The amount of time and effort a buyer invests in the search, evaluation, and decision processes of consumer behaviour.

17

Routine response behaviour

The type of decision making exhibited by consumers buying frequently purchased, low-cost goods and services; requires little search and decision time.

18

Limited decision making

The type of decision making that requires a moderate amount of time for gathering information and deliberating about an unfamiliar brand in a familiar product category.

19

Extensive decision making

The most complex type of consumer decision making, used when considering the purchase of an unfamiliar, expensive product or an infrequently purchased item; requires the use of several criteria for evaluating options and much time for seeking information.

20

Culture

The set of values, norms, attitudes, and other meaningful symbols that shape human behaviour and the artifacts, or products, of that behaviour as they are transmitted from one generation to the next.

21

Value

The enduring belief shared by a society that a specific mode of conduct is personally or socially preferable to another mode of conduct.

22

Subculture

A homogeneous group of people who share elements of the overall culture and also have their own unique cultural elements.

23

Social class

A group of people who are considered nearly equal in status or community esteem, who regularly socialize among themselves both formally and informally, and who share behavioural norms.

24

Reference group

A group in society that influences an individual's purchasing behaviour.

25

Primary membership groups

Groups with which individuals interact regularly in an informal, face-to-face manner.

26

Secondary membership groups

Groups with which individuals interact less consistently and more formally than with primary membership groups.

27

Aspirational reference groups

Groups that an individual would like to join.

28

Norms

The values and attitudes deemed acceptable by a group.

29

Nonaspirational reference groups (dissociative groups)

Groups that influence our behaviour because we try to maintain distance from them.

30

Opinion leader

An individual who influences the opinions of others.