Ch 6: Consumer Decision Making
Ch 6: Consumer Decision Making Mkt 3000
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This 4 page Class Notes was uploaded by Rebecca Lord on Sunday October 4, 2015. The Class Notes belongs to Mkt 3000 at Bowling Green State University taught by Fei Weisstein in Fall 2015. Since its upload, it has received 52 views. For similar materials see Marketing/non business in Marketing at Bowling Green State University.
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Date Created: 10/04/15
Ch 6 Consumer Decision Making 5 Steps of the Consumer DecisionMaking Process Need Recognition Information Search THIS PROCESS IS VERY Evaluation of Alternatives IMPORTANT TO KNOW Purchase PostPurchase Behavior Need Recognition When another product seems superior to the one you are currently using Imbalance between present status and preferred state Internal stimuli past experiences External stimuli stimuli from an outside source marketers can control this 0 Stimuli sight smell touch tastes sound Information Search Internal information search Recall information search in memory past experience 0 Ex Choosing to stay in a hotel because your family stayed there before and enjoyed the clean rooms and friendly staff External information search seek information in an outside environment 0 Nonmarketing controlled personal experiences trying a product personal sources family friends etc public sources organizations that comment on the product 0 Marketing controlled Includes mass media advertising tv radio etc promotion displays contests sales people product labels The extent of a consumer s information search depends on o Perceived risk the riskier a purchase is the more a consumer will extend their information search o Knowledge The more knowledgeable a consumer is about a product the less likely they are to search for more information 0 Confidence A confident consumer has sufficiently stored knowledge about the product and will be less likely to search for addition info 0 Product Experience Consumers who have had a positive experience with a product are less likely to search for additional information 0 Interest A consumer who is very interested in a product will be more likely to spend additional time searching for information Evoked Set A group of brands resulting from an information search that the buyer will choose from Ex When buying a pizza you would not consider every pizza option but you will select the options that are in you price range location delivery needs and taste preference Evaluation of Alternatives Analyze the product attributes One way to narrow down your choices is to select an attribute then eliminate the products that do not have that attribute Use cutoff criteria A minimum or maximum level of an attribute that a product must have For example when choosing an apartment you might only look at apartments with maximum 1000 rent That price would be your cutoff criteria Rank the importance of each attribute Another way to narrow down your choices is to rank the importance of the attributes under consideration then evaluate the products based on how each performs on the importance of attributes Purchase Consumers must decide o Whetherto buy Q When to buy 0 What to buy product type and brand 0 Where to buy retail store online 0 How to pay PostPurchase Behavior A consumer s satisfaction or dissatisfaction after buying a product is determined by their expectations Price often influences the level of expectations a consumer has Relationship between consumer s expectations and product s perceived performance Cognitive Dissonance The tension a consumer feels when they recognized an inconsistency between their behavior and values or opinions Marketing managers try to reduce cognitive dissonance through effective communication Consumer Buying Decisions and Involvement Routine Response Behavior Consumers usually do not recognize their need for the product until they are exposed to advertising Low cost low involvement short time Internal information search Limited Decision Making Consumer has previous product experience but is unfamiliar with the current brands avaialbe Low to moderate cost involvement and time Mostly internal information search Extensive Decision Making Occurs when the consumer is buying an unfamiliar or expensive product Consumers usually experience the most cognitive dissonance with this High involvement high cost long time Both internal and external information search Extensive and informative High involvement purchase requires promotion to target market V Low involvement purchase requires In store promotion eye catching packages good design coupons V Factors Influencing Buying Decisions Culture 0 Language 0 Myths 0 Customs o Rituals 0 Values people with similar values react alike to prices and have similar consumption patterns Social 0 Reference groups group in society that influence an individuals purchasing behavior 0 Opinion Leaders brand ambassadors 0 Family Members Psychological o Perception taking in the world around you through your senses People cannot take in every single stimulus We are exposed to over 3000 advertising messages a day but we only perceive between 1120 I Selective exposure consumer notices certain stimuli and ignores others I Selective distortion changes or distorts info that conflicts with feelings or beliefs I Selective retention remembers only that information that supports personal belief Belief An organized pattern of knowledge that an individual believes to be true about his or her world A consumer will have certain beliefs about a products attributes this set of beliefs shapes a consumer s attitude toward a certain brand Attitude A learned tendency to react consistently toward a certain product Attitudes rest on a person s value system
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