Ch. 6 study guide CBAD350

Among the factors affecting the consumer decision-making process is the way consumers spend their time and money to live, otherwise known as
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Terms in this set (47)
The realization of a unmet desired state. The recognition that there is gap between some actual state of being and a desired one. Types of needs: Function and PsychologicalNeed RecognitionFunction needsperformance of a product or servicePsychological needspersonal gratification consumers associate with a product or serviceInitial searchoccurs when buyers examine their own memory and knowledge about the product or service from past experiencesInternal sourcesPrior experience and search of memory and knowledge already acquired.External sourcesInformation from outside a persons own experience memory and knowledge.Factors affecting search process1. Perceived search of costs. Is it worth the time and effort? 2. Degree of control in the situation. If consumers believe they have some control over the outcomes of their actions, they'll engage in more search activiteslocus of controlwhen consumers believe that fate or other external factors control all outcomesPerformance riskperceived danger inherent in a poorly performing product or serviceFinancial riskrisk associated with a monetary outlay; includes the initial cost of the purchase, as well as the costs of using the item or serviceSocial riskthe fears that consumers suffer then they worry others might not regard their purchase positivelyPhysiological riskthe fear of actual harm if a product doesn't perform correctlyPsychological riskassociated with the way people will feel if the product or service doesn't convey the right image______architecture is the attempt to influence consumers through the design of the environments in which they make their purchasing decisions.choiceProducts that consumers purchase without planning are known as _________ products.impulseA(n) _______ is an element of the choice architecture that alters behavior in a predictable way, without forbidding other options or significantly changing any economic incentives.nudgeWhich consumer decision rule formally incorporates a ranked trade-off of various qualities of a product into a consumer's purchase decision?multi-attribute modelIn addition to customer satisfaction and loyalty, which of the following is also one of the potential postpurchase outcomes?cognitive dissonanceUnder the noncompensatory decision rule, what is the basis for consumers' product purchase decisions?A single attribute that is valued above all of the product's other attributesThe final step in the consumer decision-making process, and a very important element in retaining and building a loyal customer base, is ______ behavior The point in the consumer decision process at which marketers can solidify consumer loyalty is during the _______ stagepostpurchaseWhich factor does NOT directly influence how the consumer makes a purchase decision?macroeconomic factorsDrag each set of examples to the correct type of need according to Maslow's hierarchy of needs.Physiological---> food, water, shelter Safety---> secure employment, health Love---> friendship, family Esteem ---> confidence, respect Self-actualization ---> personal growthSituational factors often include ______ factors, such as the fact that a store is closing in a few minutes.temporalA(n) ______, a person's enduring evaluation of personal feelings about an idea or abject, is learned, long lasting, and often develops over a long period of time.attitudeCarlos plans to purchase a new Apple iPhone. Drag each description to the component of Carlos's attitude that it represents.Cognitive--->Carlos knows he can download music, videos, and lectures from Apple Music anywhere, anytime. Affective--->Carlos loves the sleek feel of the iPhone and has it with him at all times. Behavioral--->Carlos takes action and his own method for categorizing his downloads, storing them in the iPhone, and accessing them.Cognitive attitudewhat we believe to be trueaffective attitudewhat we feel about somethingbehavioral attitudehow we act based on what we know and feelIn Maslow's hierarchy, ______ needs allow people to satisfy their inner desires.esteemWhen marketers apply their understanding of the consumer's tendency to assign meaning to various product attributes, they are employing which psychological factor?perceptionDuring which stage of memory do consumers transform information that they receive into storable information?encodingis the psychological factor that relates to how people develop a meaningful picture of the world through the selection, organization, and interpretation of information.perceptionrefers to a change in a person's thought process or behavior that arises from experience.learningThe social influences that affect a consumer's behavior do NOT include ____cultureLimited problem solving is most likely to occur under which condition?When the consumer has a purchase decision that calls for, at most, moderate effort and timeWhat are common characteristics of shopping online? (Choose every correct answer.)Search costs are lower. There is greater sensory distance. Transactions are quick and efficient.Which of the following requires the LEAST amount of thought?Habitual decision making