31 terms

Marketing

STUDY
PLAY
affective component
a component of attitude that reflects what the person feels about the issue at hand
attitude
consists of cognitive, affective, and behavioral
behavioral component
the component of attitude that concerns the action that a person takes regarding the issue at hand
cognitive component
the component of attitude that reflects what a person believes to be true
compensatory decision rule
when a buyer is willing to compromise between two characteristics of a product
consumer decision rule
the set of rules that buyers use consciously or subconsciously while deciding whether or not to buy
culture
consists of: visible artifacts, and underlying values
decision heuristics
mental shortcuts that help consumers narrow down choices
esteem needs
needs that fill peoples inner desires
evaluative criteria
consists of salient attributes about a particular product
evoked set
set of stores or brands that a consumer considers when buying
extended problem solving
a purchase decision process where the buyer spends ample time researching because the purchase is thought to have a high amount of risk involved
external locus of control
occurs when the consumer believes that fate controls all alternatives or outcomes
financial risk
includes the price of the initial purchase as well as costs of maintaining or using it
internal locus of control
occurs when a consumer believes that he has control over the outcome. he will spend more time evaluating alternative buys because he believes his decision is influential
involvement
a consumers interest in a good or service
lifestyle
a component of psychographics; refers to the way that a person lives his life to achieve goals
love needs
needs expressed through interactions with others
Maslow's Heirachy of Needs
a paradigm that suggests that if the lower level of needs are fulfilled then the upper levels of human needs will be more likely to be fulfilled as well
motive
a need or want that is strong enough to cause a person to seek satisfaction
need recognition
the first step of the consumer buying process where a person wants to go from their needy state to a state of satisfaction
non-compensatory decision rule
when u will only buy a product based on preset stipulations regardless of the products other attributes
perception
the process by which people select, organize and interpret information to form a meaningful picture of the world
performance risk
the risk that the good does not perform correctly
physiological needs
needs pertaining to basic biological necessities of life: food, drink, shelter
psychological needs
pertains to the personal gratification that one gets from a purchase
psychological risk
risk that the product one buys does not convey the right image
retrieval sets
refer to brands or stores that the consumer can bring to mind readily
ritual consumption
refers to a pattern of behavior tied to life event that determine how and what people consume
safety needs
maslows: pertaining to protection and physical well being
situational factors
factors affecting the consumer decision making process. factors specific to the situation that may override the decision making process