MKGT 6900 - Week 4 Consumer Behavior
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What is Consumer Behavior?
The process we use to select, purchase, use and dispose of goods, services, ideas, or experiences to satisfy needs/desires
What are the applications for Consumer Behavior?
- Marketing Strategy
- Public Policy (government regulations)
- Social Marketing
- Personal Awareness (better consumers)
What is the effort continuum in the Decision Making Process?
- The more involvement the consumer puts into the decision takes them from
- Habitual Decision Making to
- Limited Decisions Making to
- Extended Problem Solving
What is consumer effort determined by?
- Perceived risk
What amount of risk is Habitual Decision Making associated with?
What amount of risk is Extended Problem Solving associated with?
- High involvement
- High risk
What are the steps in the decision process for Extended Problem Solving?
- Problem recognition
- Evaluate alternatives
- Postpurchase behavior
What is the process of Problem Recognition?
Consumer evaluates their current state vs their desired state. Once a certain threshold is met, the consumer decides they need the "solution."
What is Internal Information Search?
Consumer looks into their own memory for information that might assist with their decision.
What is External Information Search?
When a consumer requires research from external sources to assist in making their decision
What is Evaluating Alternatives?
Consumer compares a small number of products against each other and narrows down by options.
What Evaluation Options might a consumer use when making a product decision?
- Compensatory - analyzing tradeoffs between positives and negatives
- Non-compensatory - considering a product is all or nothing
What is Choice in a consumer?
- Making a choice about a product
- The more important the decision, the longer the thought process takes
What are the two decisions in the Post-purchase Evaluation?
- Cognitive Dissonance
Explain the relationship between satisfaction and Expected Level?
Marketers want consumers to have positive (but realistic) expectations
What is Cognitive Dissonance?
Regret or anxiety consumers feel after making a difficult choice
What are the Influences on Decision Making?
- Internal influences
- Situational influences
- Social influences
What are some Internal Influences?
- Age Group
What are the steps in the Perception Process?
What is Perception?
An approximation of reality
What is Attention?
The extent to which mental processing activity is devoted to a particular stimulus
What is Interpretation?
When consumers assign meaning to stimulus
What is Weber's Law?
It suggests that consumers' ability to detect changes in stimulus appears to be strongly related to the intensity of the stimulus to begin with.
What is Motivation?
Internal state that drives us to satisfy need
What are the steps of Maslow's Hierarchy?
- Ego Needs
What are the sections of the Means-End Chain?
- Product Attribute
- Desired Benefit
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