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MKTG 341 Chapter 4 Notes

by: Angela Potter

MKTG 341 Chapter 4 Notes MKTG 341

Marketplace > Towson University > Marketing > MKTG 341 > MKTG 341 Chapter 4 Notes
Angela Potter
GPA 3.69

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These notes cover the material in Chapter 4
Principles of Marketing
Erin Steffes
Class Notes
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This 3 page Class Notes was uploaded by Angela Potter on Thursday January 28, 2016. The Class Notes belongs to MKTG 341 at Towson University taught by Erin Steffes in Spring 2016. Since its upload, it has received 12 views. For similar materials see Principles of Marketing in Marketing at Towson University.


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Date Created: 01/28/16
Chapter 4 Key Terms Consumer behavior: the actions a person takes in purchasing and using products and services Purchase decision process: the stages a buyer passes through in making choices about  which products or services to buy Involvement: The personal. social, and economic significance of  a purchase to the consumer  Motivation: the energizing force that stimulates behavior to satisfy a need  Personality: a persons consistent behavior or responses to recurring situations  Perception: the process by which a person selects, organizes, and interprets information to  create a meaningful picture of the world Perceived Risk: the anxiety felt when a consumer cannot anticipate possible negative  outcomes of a purchase  Brand Loyalty: A favorable attitude toward and consistent purchase of a single brand over time Attitude: a tendency to respond to something in a consistently favorable or unfavorable way Beliefs: a consumers perception of how a product or brand performs  Opinion Leaders: Individuals who have social influence over others  Word of Mouth: people influencing each other in personal conversations  Reference Groups: people to whom an individual looks as a basis for self­appraisal or as a  source of personal standards Family Life Cycle: a family progression from formation to retirement, each phase bringing with  it distinct purchasing behavior  Purchase Decision Process: 1. Problem recognition : Perceiving a need ­ perceiving a difference between a persons ideal and actual situations big enough to trigger  a decision 2. Information search : Seeking value ­ Internal search: scan memory for previous experience with products or brands ­ External search: personal sources, public sources, marketer­dominated sources  3. Alternative evaluation: Assessing Value  ­ clarifies the problem for the consumer by: suggesting criteria to use for the purchase,  yielding brand names that might meet the criteria, and developing consumer value  perceptions ­ Evaluative criteria: all the factors you consider when making a purchase Consideration set: the group of brands of which you are aware in the product class ­ 4. Purchase decision: Buying Value ­ Decision of from who to buy and when to buy 5. Post­purchase behavior: Value in Consumption or Use ­ After buying a consumer compares it whit his or her expectations ­ Cognitive dissonance: Felling of post­purchase psychological tension or anxiety Consumer Involvement  Three Characteristics of high­involvement  1. It is expensive  2. It can have serious personal consequences 3. It could reflect on ones social image  Situational Influences  ­ the purchase task­ the reason for engaging in the decision  ­ social surroundings­ the other people present when a purchase decision is made ­ physical surroundings­  decor, music, and crowding  ­ temporal effects­ time of day or the amount of time available   antecedent states­ the consumers mood or amount of cash on hand ­ Learning ­ Behavioral Learning  process of developing automatic responses to a situation built up through repeated  ­ exposure to it  ­ Drive: need that moves individual to action ­ Cue: stimulus or symbol  ­ Response: action taken by a consumer to satisfy the drive  ­ Reinforcement: reward ­ Cognitive learning  ­ Making connection between two or more ideas or simply observing the outcomes of others  behaviors and adjusting your own accordingly  ­ Brand Loyalty ­ A favorable attitude toward and consistent purchase of a single brand over time  Attitude Change Marketers use three approaches to try to change consumer attitudes toward products and  brands  1. Changing beliefs about the extent to which a brand has certain attributes  2. Changing the perceived importance of attributes  3. Adding new attributes to the product  Family Influence Family influence on consumer behavior result from:  ­ Consumer socialization The process by which people acquire the skills, knowledge, and attitudes necessary to  ­ function  ­ Children learn by interacting with adults in purchase situations and through their own  purchasing and product usage experience  ­ The family life cycle ­ The distinct phases that a family progresses through from formation to retirement, each  phase bringing with it identifiable purchasing behaviors  ­ Family decision making  ­ Joint decision making: most decisions are made by both husband and wife ­ Spouse dominant decision making: either the husband or wife is mostly responsible  ­ Roles of individual family members are another element of family decision making ­ information gatherer ­ influencer ­ decision maker ­ purchaser  ­ user


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