MARK 3321: Exam 2 Chapter 6
24 Cards in this Set
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Factors Influencing Consumer Buying Decisions
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Cultural, Social, Individual, Psychological
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Cultural
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Values
Social Classes - Occupation, wealth, Income
Subculture - "Little China/Mexico"
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Social
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Reference Groups (Direct and Indirect)
Opinion Leaders
Family
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Reference Group: Direct
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Primary: Small and Informed, Friends, Family
Secondary: Large and Formal, Clubs, Religious Groups, DU
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Reference Group: Indirect
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Aspirational: Want to be a part of (Fraternity)
Non Aspirational: Don't want to be a part of (KKK, they suck)
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Opinion Leaders
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Influence opinions of others
1st to try new products
Hard to find
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Family
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Purchase Process Role
Initiator
Influences
Decision Maker
Purchasers
Consumers
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Individual
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Age
Gender
Self Concept Lifestyle
Personality
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Psychological
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Perception (Selectives)
Beliefs
Motivation (Maslow's)
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Perception
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Selective Exposure - Select what you want to see
Selective Retention - Change the way something is done
Change something to go with what you believe
Selective Distortion- Remember what you want to remember
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Beliefs
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Beliefs
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Motivation
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Maslow's thing
Self Actualization
Esteem
Social
Security
Physiological (Need to Survive)
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5 Step Decision Making Proess
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1. Need Recognition
2. Information Search
3. Evaluation of Alternatives
4. Purchase
5. Post Purchase Behavior
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1. Need Recognition
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Recognition of Unfulfilled Want- Product sucks, New Product come out
Stimulus- Anything that affects the five senses
Present V Preferred - make them recognize they really need the product
Internal- From Internal source (within)
External- Outside, stimulated by something else
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2. Information Search
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Internal - Recall from memory
External - Marketing - Company info/Controlled Info
Non marketing - Friends/ Family
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3. Evaluation of Alternatives
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Evoked Set (Consideration Set)
Group of Brands that buyer can buy from
-Analyze product attributes
- Use Cut off criteria
- Rank Attributions by importance
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4. Purchase
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To Buy or Not To Buy
Whether to buy, When, What, Why, How...to buy
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5. Post Purchase Behavior
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Cognitive Dissonance-
Inner Tension within consumer after recognizing an inconsistency between behavior and values
Reduced By
Seeking information that reinforces ideas
Avoid information that contradicts information (Friends hates the product)
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Utilitarian V Hedonistic
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U Is need (toothpaste, clothes, food)
H is want (Brand Name)
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Type of Buying Decisions
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a) Routine
b) Limited
c) Exensive
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a) Routine
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- Frequently buy
- Not a lot of involvement in decision making process
- Post purchase behavior comes after purchase
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b) limited
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Something you don't know name brands of
(microwaves, Blender)
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c) Extensive
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- Infrequent purchase
- High involvement in consumer decision
- Expensive Product
Car, House
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Involvement
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Search and Evaluation and Decision Process
Amount of time spent by consumer
Based on:
Previous Experience
Interest
Social Visibility
Risk Involvement
Situation
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MARK 3321: Test 1