Principles Of Marketing Ch. 5

Front 1

What is consumer behavior?

Back 1

The actions that a person takes when purchasing and using products/services, including mental processes that precede and follow these actions.

Front 2

What are the 5 stages of the consumer purchase decision?

Back 2

Problem recognition

Information search

Alternative evaluation

Purchase decision

Post purchase behavior

Front 3

What are the internal and external components of a search for information?

Back 3

Internal = memory and experiences

External = 1) personal (family & friends)
2) public sources (rating sites)
3) market dominated sources (website, ad, salespeople)

Front 4

What is an awareness set vs. a consideration set?

Back 4

Awareness set: brands you become aware of during your search for information

Consideration set: brands you would consider acceptable amongst the ones you're aware of

Front 5

What is cognitive dissonance?

Back 5

Feeling of post purchase psychological tension or anxiety

Front 6

When does a consumer go through extended problem solving?

Back 6

When the involvement is high (ie., price is high, has serious personal consequences, or can reflect on social image)

Front 7

What are 3 forms of problem solving?

Back 7

Routine

Limited

Extended

Front 8

What is the marketing strategy for low involvement products?

Back 8

1) maintain quality

2) keep shelves stocked

3) reassure right choice

Front 9

What is the marketing strategy for high involvement products?

Back 9

Effectively providing consumers with the necessary information

Front 10

What are 5 things (situational influences) that can change your decision?

Back 10

1) purchase task (reason for the decision)

2) social surroundings (other people present)

3) physical surroundings (decor, music, crowd)

4) temporal effects (time available)

5) antecedent states (mood & cash on hand)

Front 11

What are 5 major psychological influences on consumer behavior?

Back 11

1) motivation & personality

2) perception & risk

3) learning

4) values, beliefs, & attitudes

5) lifestyle

Front 12

What is a self concept?

Back 12

The way people see themselves and believe others see them (actual & ideal)

Front 13

What are the 4 stages of selective perception"

Back 13

Selective attention

Selective retention

Selective distortion

Subliminal perception

Front 14

How do companies reduce perceived risk?

Back 14

1) obtain seals of approval (organic)
2) secure endorsements from influential people (sidney crosby's hockey stick)
3) free trials of product

4) warranties & guarantees

The greater the risk the greater the external search phase.

Front 15

What is learning? What are 2 kinds of it? Describe each.

Back 15

Behavior that results from repeated experience.

Cognitive and behavioral.

Cognitive: thinking reasoning, & mental problem solving

Behavioral: developing response through repeated exposure to stimulus.

Front 16

What are the 4 variables of behavioral learning?

Back 16

drive (strong internal stimulus), cue (faint external stimulus), response (action taken by consumer), reinforcement (reward)

Front 17

What are 3 ways of changing a person's attitude toward a brand?

Back 17

Changing the extent to which the believe the brand has that attribute

Changing the importance of that attribute

Adding new attributes to the product

Front 18

What are major sociocultural influences on consumer behavior?

Back 18

1) Personal influence
- opinion leadership (knowledgeable people influencing your choice)

- word of mouth buzz marketing

- viral marketing

2) Reference groups

- membership primary & secondary

- non membership aspirational & disassociative

3) Family influence

- consumer socialization

- family life cycle

- family decision making

4) social class

5) culture & subculture