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23 Cards in this Set
- Front
- Back
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What are the 5 steps in the decision-making process?
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1. Need recognition 2. Information research 3. Evaluation of alternatives 4. Purchase decision 5. Post-purchase evaluation |
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Cognitive Dissonance |
Doubting purchase decisions. How to avoid: give guarantees, warranties, follow-up calls. |
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What are the 4 types of buying decision behaviour? |
1. Complex 2. Variety seeking 3. Dissonance reducing 4. Habitual purchase |
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Complex purchase decision |
High involvement Significant difference between brands Big purchase Brand differentiation is key. |
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Variety seeking purchase decision |
Low involvement Significant difference between brands Shoppers switch brands a lot Not expensive Fight for shelf space. |
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Dissonance reducing purchase decision |
High Involvement Little difference between brands Expensive Often experience dissonance afterward Should offer warranties, etc. |
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Habitual purchase decision |
Low involvement Little difference between brands Shop for best price Buy out of habit Price low. |
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What is Consumer Buying Behaviour? |
Refers to the buying behaviour of final customers that make up the consumer market. |
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What are the 3 types of factors that affect consumer behaviour? |
1. Cultural 2. Social 3. Personal |
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Culture |
Most basic cause of a person's wants and behavior |
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Subculture |
Groups with shared value systems based on experiences |
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Social Class |
Society's relatively permanent and ordered divisions whose members share similar values, interests and behaviours. |
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Reference Groups |
External influences that serve as direct or indirect references in forming a person's attitudes or behaviour. |
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Membership Groups |
Have a direct influence (family, friends, etc.) |
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Aspirational Groups |
Groups the individual wishes to belong to. |
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Word of mouth influence |
People are talking about your product and influencing other's purchase decisions. |
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What are the different personal factors that affect consumer behaviour? |
- Age and life-cycle stage - Occupation - Economic situation - Personality and self-concept - Psychological factors (motivation, etc.) |
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What are the levels on Maslow's hierarchy of needs? |
Physiological needs Safety needs Social needs Esteem needs Self-actualization needs |
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What is perception? |
The process by which people select, organize and interpret information to form a meaningful picture of the world. |
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What are the 3 perceptual processes? |
Selective attention Selective distortion Selective retention |
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Belief |
Descriptive thought about something |
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Attitude |
Person's relatively consistent evaluations, feelings, and tendencies toward an idea or object. |
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Who are the players in the diffusion process of a product? |
1. Innovators 2. Early adopters 3. Early majority 4. Late majority 5. Laggards |
