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47 Cards in this Set

  • Front
  • Back
Consumer Decision making Process
1 - Problem Recognition
2 - Information Search
3 - Alternative Evaluation
4 - Purchase Decision
5 - Post-purchase behavior
Functional vs. Psychological Needs
Functional needs - better product for your needs
Psychological - personal gratification (girls and shoes)
Internal Search vs. External Search
Internal - scanning your memory, appropriate when not as important, frequent purchase
External - actively looking for info, cost of search low, risk of bad choice high, and past experience is not enough
Cognitive Dissonance
Buyers regret, post-purchase tension or anxiety
Ways to alleviate - ask for approval, 1-800 numbers after purchase
Selective exposure
filter exposure to be consistent with beliefs
Selective distortion
take something and change meaning to be consistent with beliefs
Selective retention
only remember things that are relevant to you
Subliminal perception
unaware of perceptions going on around you
Experimental Learning
Modeling, vicarious learning
Behavioral Learning
Automatic responses, stimulus generalization and stimulus discrimination
Cognitive Learning
involves thinking/problem solving
Situational Influences
Purchase task, social surroundings, physical surroundings, temporal effects, antecedent states
the level of perceived personal importance and or intrest evoked by a stimulus within a specific situation
Routine Problem Solving
50% of purchase occasions
Limited Problem Solving
38% of purchase occasions
Extended Problem Solving
about 12% of purchase situations
Mass Marketing
seller mass products, distributes, and promotes one product to all buyers
Differentiated Segmentation
targeting several markets
Concentrated Segmentation
selecting single market and putting all energy there
Micromarketing segmentation
One-to-one marketing
6 Bases of Segment Markets
Geographic, demographic, psychographic, geodemographic, benefits, behavioral
Characteristics of Effective Segments
Measurable, accessible, substantial, actionable
Perceptual Map
x and y axis graph that positions products
Marketing Research
the process of collecting and using information for marketing decision-making
5 Stages in Marketing Research
1 - Defining Objectives
2 - Designing the Research Project
3 - Data Collection
4 - Analyzing Data
5 - Presenting Results
Defining Objectives
Define the problem, all concerned parties understand the problem and agree on it
The Research Plan
a series of choices that comprise a master pan for conducting marketing research
Data Collection
Secondary (previously published, cheaper) data and Primary (more detailed) data
Types of Research
Exploratory, conclusive
Analyzing Data
Converting data into information to explain, predict and or evaluate a particular situation
Interpreting and Presenting Information
Summary, Body, Conclusions, Limitations, and Supplements
Primary Data
collected for the first time, specifically for a marketing research study
Secondary Data
data from previously published or compiled sources
Syndicated Data
can be obtained through commercial real estate firms
Exploratory Research
Observation, interviews, focus groups, projective techniques
Conclusive Research
Casual, experimental, surveys, panel data, scanner data
all possible choices
Brands readily brought into memory
brands consumer is considering
Determinant Attributes
features of product important to buyer
Compensatory decision rule
consumers trade off characteristics when evaluating product
Non-compensatory decision rule
one characteristic overrides others
Decision heuristic
mental shortcuts to narrow decisions
Maslow's Hierarchy
pyramid diagram
cognitive component
reflects persons beliefs
Affective component
how you feel on issue
behavioral component
actions we tack based on feelings