Chapter 5 Consumer Behavior o Need Recognition Distance between needy state and desired state o Functional needs performance of a product or service o Psychological needs personal gratification consumers associate with a product and or service o Internal search for information the buyer examines his or her own memory and knowledge about the product or service gathered through past experiences o External search for information the buyer seeks information outside his or her personal knowledge base to help make the buying decision o Internal locus of control believe they have some control over the outcomes of their actions Generally engage in more search activities o External locus of control consumers believe that fate or other external factors control all outcomes Believe it doesn t matter how much information they gather if they make a wise decision it isn t to their credit if they make a poor one it isn t their fault o Performance risk involves the perceived danger inherent in a poorly performing product or service o Financial risk risk associated with a monetary outlay and includes the initial cost of the purchase as well as the costs of using the item or service o Psychological risk risks associated with the way people will feel if the product or service does not convey the right image o Specialty goods services products or services toward which the customer shows such a strong preference that he or she will expend considerable effort to search for the best suppliers o Shopping goods series products or services for which consumers will spend a fair amount of time comparing alternatives such as apparel fragrances and appliances o Convenience goods services products or services for which the consumer is not willing to spend any effort to evaluate prior to purchase o Universal sets include all possible choices for a product category but because it would be unwieldy for a person to recall all possible alternatives for every purchase decision marketers tend to focus on only a subset of choices o Retrieval sets those brands or stores that can be readily brought forth from memory o Evoked set comprises the alternative brands or stores that the consumer states he or she would consider when making a purchase decision o Evaluation criteria consists of a set of salient or important attributes about a particular product o Determinant attributes product or service features that are important to the buyer and on which competing brands or stores are perceived to differ o Consumer decision rules set of criteria that consumers use consciously or subconsciously to quickly and efficiently select from among several alternatives o Compensatory decision rules assumes that the consumer when evaluating alternatives trades off one characteristic against another such that good characteristics compensate for bad characteristics o Noncompensatory decision rules choose a product or service on the basis of one characteristic or one subset of a characteristic regardless of the values of its other attributes o Decision heuristics mental shortcuts that help a consumer narrow down choices Ritual consumption refers to a pattern of behaviors tied to life events that affect what and how we consume o Post purchase dissonance buyer s remorse is the psychologically uncomfortable state produced by an inconsistency between prior beliefs and actual behavior that evokes a motivation to reduce the dissonance o Negative word of mouth when consumers spread negative information about a product service or store to others o Motive need or want that is strong enough to cause the person to seek satisfaction o Maslow s Hierarchy of Needs best known paradigm for explaining these motive types Physiological safety love esteem and self actualization o Physiological needs basic biological necessities of life o Safety needs protection and physical well being o Love needs interactions with other o Esteem needs allow people to satisfy their inner desires o Self actualization feel completely satisfied with your life and how you live o Attitude person s enduring evaluation of his or her feelings about and behavioral tendencies toward an object or idea o Cognitive reflects what we believe to be true o Affective what we feel about the issue o Behavioral actions we undertake with regard to that issue o Perception process by which we select organize and interpret information to form a meaningful picture of the world o Learning change in a person s thought process or behavior that arises from experience and takes place throughout the consumer decision process o Lifestyle refers to the way consumers spend their time and money to live o Reference group one or more persons whom an individual uses as a basis for comparison regarding beliefs feelings and behaviors o Culture shared meaning beliefs morals values and customs of a group of people o Situation factors override or at least influence psychological and social issues o Extended problem solving occurs when decision entails a lot of risk o Limited problem solving occurs during a purchase decision that calls for at most a moderate amount of effort and time o Impulse buying buying decision made by customers on the spot when they see the merchandise o Habitual decision making a purchase decision process in which consumers engage in little conscious effort
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