Consumer Behavior: Chapter 11

Front 1

Rational Decision Making Perspective

Back 1

-assumes consumers diligently gather information about purchases, carefully compare various brands of products on salient attributes, and making informed decisions regarding buying

Front 2

Experiential Decision Making Perspective

Back 2

-assumes consumer often make purchases and reach decisions based on the affect, or feeling, attached to the product or behavior under consideration
-"feel, do, think"

Front 3

Behavioral Influence Decision Making Perspective

Back 3

-assumes many consumer decisions are actually learned responses to environmental influences
-ex. dim light at restaurant leads customers to slow down, drink

Front 4

Types of Risk

Back 4

-financial risk
-social risk (how will I be viewed)
-performance risk (will the product work)
-physical risk (safety)
-time risk

Front 5

Extended Decision Making

Back 5

-high involvement, high risk
-consumers move through various problem solving activities in search of the best information that will help them reach a decision
-ex. houses, cars

Front 6

Limited Decision Making

Back 6

-moderate involvement, and risk
-consumer search very little information and often reach decision based on prior beliefs about the product

Front 7

Habitual Decision Making

Back 7

-low involvement, low risk
-consumer generally do not seek information at all when a problem is recognized and select a product based on habit
-ex. soft drinks

Front 8

Brand Inertia

Back 8

-occurs when a consumer simply buys a product repeatedly without any real attachment

Front 9

Consumer Search Behavior

Back 9

-behaviors that consumers engage in as they seek information that can be used to solve a problem
1. number of alternatives
2. price of alternatives
3. relevant attributes
4. performance of each alternative on attributes

Front 10

Ongoing Search

Back 10

-search effort that is not necessarily focused on an upcoming purchase or decision but rather to stay up to date on the topic

Front 11

Prepurchase Search

Back 11

-search effort aimed at finding information to solve an immediate problem
-different from ongoing in that consumer has an enduring interest in product

Front 12

Information Overload

Back 12

-consumers are presented with so much information that they cannot assimilate the variety of information presented

Front 13

Internal Search

Back 13

-retrieval of knowledge stored in memory about products

Front 14

Consideration Set

Back 14

-alternatives that are considered acceptable for further consideration in decision making

Front 15

Universal Set

Back 15

-total collection of all possible solutions to a consumer problem

Front 16

Awareness Set

Back 16

-set of alternatives of which the consumer is aware

Front 17

Inept Set

Back 17

-alternatives in the awareness set that are deemed unacceptable for further consideration

Front 18

Inert Set

Back 18

-alternatives in the awareness set about which consumers are indifferent or do not hold strong feelings

Front 19

External Search

Back 19

-gathering information from sources external to the consumer such as friends, family, salespeople, ect.

Front 20

Selecting Best Information Source

Back 20

-ease of obtaining information
-objectivity of the source
-trustworthiness of source
-speed at which information can be obtained

Front 21

Search Regret

Back 21

-negative emotions that come with failed search processes