Marketing: Chapter 5

Front 1

Need Recognition

Back 1

-the beginning of the consumer decision process
-occurs when consumer realize they have an unsatisfied need and want and go from their actual, needy state to a different, desired state.

Front 2

Functional Needs

Back 2

-pertain to the performance of a product or service

Front 3

Psychological Needs

Back 3

-pertain to the personal gratification consumer associate with a product or service

Front 4

Internal Search for Information

Back 4

-occurs when the buyer examines his or her own memory and knowledge about the product or service, gathered through past experiences

Front 5

External Search for Information

Back 5

-occurs when the buyer seeks information outside his or her own personal knowledge base to help make a buying decision

Front 6

Universal Set

Back 6

-includes all possible choices for a product category

Front 7

Retrieval Set

Back 7

-includes those brands or stores that the consumer can readily bring forth from memory

Front 8

Evoked Set

Back 8

-comprises the alternative brands or stores that the consumer states he or she would consider when making a purchase decision

Front 9

Evaluation Criteria

Back 9

-consist of a set of important attributes about a particular product

Front 10

Determinant Attributes

Back 10

-product or service features that are important to the buyer and on which competing brands and stores are perceived to differ
-ex. a car's mpg's

Front 11

Post Purchase Dissonance

Back 11

-buyer's remorse
-when a customer questions the appropriateness of a purchase after the decision has already been made

Front 12

Motive

Back 12

-need or want that is strong enough to cause the person to seek satisfaction

Front 13

Cognitive Component

Back 13

-component of attitude
-reflects what a person believes to be true

Front 14

Affective Component

Back 14

-component of attitude
-reflects what a personal feels about the issue at hand; his or her like or dislike of something

Front 15

Behavioral Component

Back 15

-component of attitude
-comprises the actions a person takes with regard to the issue at hand

Front 16

Perception

Back 16

-process by which people select, organize, and interpret information to form a meaningful picture of the world

Front 17

Consumer Decision Process

Back 17

1. Need Recognition
2. Information Search
3. Evaluate Alternatives
4. Purchase
5. Post Purchase

Front 18

Internal Locus of Control

Back 18

-people who believe they have some control over the outcomes of their actions
-generally engage in more search activities
-ex. people who do a lot of research before purchasing stocks, instead of just investing in a mutual fund

Front 19

External Locus of Control

Back 19

-people believe that fate or other external factors control all outcomes
-ex. people who invest in mutual funds instead of purchasing individual stocks because they feel that have no control of the market and will not be able to make predictions

Front 20

Factors Influencing the Consumer Decision Process

Back 20

-marketing mix (4 p's)
-psychological factors (motives, attitudes, perceptions)
-social groups (family, culture)
-situational factors

Front 21

Maslow's Hierarchy of Needs

Back 21

1. psychological (food, water)
2. safety (secure employment, health)
3. love (friendship, family)
4. esteem (confidence respect)
5. self-actualization (person is satisfied with life)

Front 22

Involvement

Back 22

-high involvement: greater attention and deeper processing causing strong attitudes toward product
-low involvement:less attention causing weak attitudes and usually superficial values