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MARK 3321: Exam 2 Chapter 6
Factors Influencing Consumer Buying Decisions |
Cultural, Social, Individual, Psychological |
Cultural |
Values
Social Classes - Occupation, wealth, Income
Subculture - "Little China/Mexico" |
Social |
Reference Groups (Direct and Indirect)
Opinion Leaders
Family |
Reference Group: Direct |
Primary: Small and Informed, Friends, Family
Secondary: Large and Formal, Clubs, Religious Groups, DU |
Reference Group: Indirect |
Aspirational: Want to be a part of (Fraternity)
Non Aspirational: Don't want to be a part of (KKK, they suck) |
Opinion Leaders |
Influence opinions of others
1st to try new products
Hard to find |
Family |
Purchase Process Role
Initiator
Influences
Decision Maker
Purchasers
Consumers |
Individual |
Age
Gender
Self Concept Lifestyle
Personality |
Psychological |
Perception (Selectives)
Beliefs
Motivation (Maslow's) |
Perception |
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 |
Beliefs |
Beliefs |
Motivation |
Maslow's thing
Self Actualization
Esteem
Social
Security
Physiological (Need to Survive) |
5 Step Decision Making Proess |
1. Need Recognition
2. Information Search
3. Evaluation of Alternatives
4. Purchase
5. Post Purchase Behavior |
1. Need Recognition |
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 |
2. Information Search |
Internal - Recall from memory
External - Marketing - Company info/Controlled Info
Non marketing - Friends/ Family |
3. Evaluation of Alternatives |
Evoked Set (Consideration Set)
Group of Brands that buyer can buy from
-Analyze product attributes
- Use Cut off criteria
- Rank Attributions by importance |
4. Purchase |
To Buy or Not To Buy
Whether to buy, When, What, Why, How...to buy |
5. Post Purchase Behavior |
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) |
Utilitarian V Hedonistic |
U Is need (toothpaste, clothes, food)
H is want (Brand Name) |
Type of Buying Decisions |
a) Routine
b) Limited
c) Exensive |
a) Routine |
- Frequently buy
- Not a lot of involvement in decision making process
- Post purchase behavior comes after purchase |
b) limited |
Something you don't know name brands of
(microwaves, Blender) |
c) Extensive |
- Infrequent purchase
- High involvement in consumer decision
- Expensive Product
Car, House |
Involvement |
Search and Evaluation and Decision Process
Amount of time spent by consumer
Based on:
Previous Experience
Interest
Social Visibility
Risk Involvement
Situation |