18 terms

Principles of Marketing Ch. 4

STUDY
PLAY

Terms in this set (...)

Consumer behavior
Actions a consumer takes in before, during and after purchasing products and services.
Mental, emotional, and social processes
Purchase decision process
The stages a buyer passes through in making choices about which products or services to buy.
1. Problem Recognition
2. Information search
3. Alternative evaluation
4. Purchase decision
5. Postpurchase behavior
Internal search
Explicit and implicit memory
External search
Personal sources - family & friends
Public sources - mass media & consumer organizations
Market dominated sources - advertising & internet
Experiential sources - handling, examining, using the product
Evoked set
Group of brands that come to mind when considering a purchase
Consideration set
The group of brands that a consumer would consider acceptable from among all the brands in the product class of which he or she is aware of.
Postpurchase cognitive dissonance
The discomfort caused by a post-purchase conflict
Reference groups
People to whom an individual looks as a basis for self-appraisal or as a source of personal standards. These people often expose individuals to new behaviors and lifestyles.
Types of reference groups
1. Membership group - group an individual is a part of
2. Aspiration group - group a person looks forward to joining
3. Dissociate group - group a person does not want to be identified with
Word-of-mouth
People influencing each other in personal conversations (more trusted than other sources).
Viral marketing
An internet-enabled promotional strategy that encourages users to forward marketer-initiated messages to others (ex. email, social media)
Opinion leaders
Have social influence over others, socially active, tend to be experts
Self-image congruence model
We choose products when attributes match our self-image
Three attitude change strategies
1. Change beliefs about a brand's attitudes
2. Change perceived importance of attributes
3. Add new product attributes
Strategies to reduce perceived risks
1. Obtain seals of approval
2. Secure endorsements
3. Provide free trials/samples
4. Give extensive instructions - ex. detailed manuals
5. Provide warranties/guarantees
Selective exposure
Paying attention to messages that are consistent with their attitudes and beliefs
Selective comprehension
Interpreting information so it is consistent with existing attitudes and beliefs
Selective retention
Not remembering all the information that is given