Ch. 5 Consumer Behavior

Front 1

Importance of Understanding Consumer Behavior

Back 1

Understanding what consumers do, and why they do it is a vital first step towards beings able to predict and ultimately influence their behavior

Front 2

Consumer Purchase Decision Process

Back 2

a 5-step process used by consumers when buying goods or services. Consists of: problem/need recognition, information search, evaluation of alternatives, purchase decision, post-purchase behavior

Front 3

Consumer Purchase Decision Process Step 1: Problem/Need Recognition

Back 3

External and internal stimuli (difference between person's actual situation and person's ideal situation)

Front 4

Consumer Purchase Decision Process Step 2: Information Search

Back 4

internally recall information from memory; externally personal sources, public sources, marketing controlled sources, experiential sources. Looks for brand names, criteria to judge brands, consumer value perceptions this generates awareness about all brands that could satisfy the need

Front 5

Consumer Purchase Decision Process Step 3: Evaluation of Alternatives

Back 5

analyze using evaluative criteria (objective criteria-price, size, material; subjective criteria-brand image, value), evoked set or consideration set (group of acceptable brands (based on analysis evaluative criteria), choice (based on ranking of evoked set

Front 6

Consumer Purchase Decision Process Step 4: Purchase Decision

Back 6

Where to buy the product and when to buy it

Front 7

Consumer Purchase Decision Process Step 5: Post-Purchase Decision

Back 7

consumer satisfaction is a function of consumer expectations and perceived product performance:

performance < expectations = disappointment

performance = expectations = satisfaction

performance > expectations = delight

The level of satisfaction will influence repeat purchase

Front 8

Consumer Purchase Decision Process Step 5: Post-Purchase Decision Cognitive Dissonance

Back 8

buyer discomfort caused by post-purchase conflict; affects major purchases, anxiety of not knowing if the right choice was made; customer follow-up programs help to reduce this problem.

To reduce cognitive dissonance customer can: justify decision, seek new info, avoid contradictory info, return product. Marketer can: send post-purchase thank you letter, display product superiority in ads, offer guarantees

Front 9

Influences on the Consumer Purchase Decision Process

Back 9

marketing mix influences, sociocultural influence, situational influences, psychological influences

Front 10

Influences on the Consumer Purchase Decision Process: Marketing Mix Influences

Back 10

product, price, place, promotion (4Ps)

Front 11

Influences on the Consumer Purchase Decision Process: Sociocultural Influence

Back 11

personal influence (opinions, word of mouth), reference of groups, family, social class (similar attitudes within similar classes)

Front 12

Influences on the Consumer Purchase Decision Process: Situational Influences

Back 12

purchase task (to who is the purchase), social surroundings (who else is present when purchase is made), physical surroundings (unpleasant vs. pleasant atmosphere), temporal effects (when customers purchase), antecedent states (mood, clothes you're wearing, cash on hand)

Front 13

Influences on the Consumer Purchase Decision Process: Psychological Influences

Back 13

motivation (driving force that causes a person to take action to satisfy needs), personality (influences what customers are buying), perception (anxiety felt during purchasing process), learning (experience, thinking), values/beliefs/attitudes (attitudes are shaped by values and personal beliefs), lifestyle (how people spend time and money