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Marketing Chapter 5
| Term | Definition |
|---|---|
| Need Recognition | the beginning of the consumer decision process; occurs when consumers recognize they have an unsatisfied need and want to go from their actual, needy state to a different, desired state |
| Functional Needs | pertain to the performance of a product or service |
| Psychological Needs | pertain to the personal gratification consumers associate with a product or service |
| Internal Search for Information | occurs when the buyer examines his or her own memory and knowledge about the product or service, gathered through past experiences |
| External Search for Information | occurs when the buyer seeks information outside his or her personal knowledge based to help make the buying decision |
| Internal Locus of Control | consumers believe they have some control over the outcomes of their actions, so they generally engage in more search activities |
| External Locus of Control | consumers believe that fate or other external factors control all outcomes |
| Performance Risk | involves the perceived danger inherent in a poorly performing product or service |
| Finance Risk | risk associated with a monetary outlay; includes the initial cost of the purchase, as well as the costs of using the item or service |
| Social Risk | involves the fears that consumers suffer when they worry others might not regard their purchases positively |
| Physiological Risk | risk associated with the fear of an actual harm should the product not perform |
| Psychological Risk | risk associated with the way people will feel if the product or service does not convey the right image |
| Evaluative Criteria | consist of a set of salient, or important, attributes about a particular product that are used to compare alternative products |
| Determinant Attributes | product features that are important to the buyer and on which competing brands or stores are perceived to differ |
| Consumer Decision Rules | set of criteria consumers use consciously or subconsciously to quickly and efficiently select form among several alternatives |
| Compensatory Decision Rule | when the consumer is evaluating alternatives and trades off one characteristic against another |
| Noncompensatory Decision Rule | when consumers choose a product on the basis of a subset of its characteristics, regardless of the values of its other attributes |
| Decision Heuristics | mental shortcuts that help consumers narrow down choices |
| Ritual Consumption | pattern of behaviours tied to life events that affect what and how people consume |
| Postpurchase Dissonance | internal conflict that arises from an inconsistency between two beliefs, or between beliefs and behaviour |
| Motive | a need or want that is strong enough to cause the person to seek satisfaction |
| Physiological Needs | basic biological needs of life |
| Safety Needs | pertain to protection and physical well-being |
| Love (Social) Needs | relate to our interactions with others |
| Esteem Needs | allow people to satisfy their inner desires |
| Self-Actualization | occurs when you feel completely satisfied with your life |
| Attitude | evaluation of his or her feelings about the behavioural tendencies toward an object/idea |
| Cognitive Component | component of attitude that reflects what a person believes to be true |
| Affective Component | component of attitude that reflects what a person feels about the issue at hand |
| Behavioural Component | component of attitude that comprises the actions a person takes with regard to the issue |
| Perception | process by which people select, organize, and interpret information to form a meaningful picture of the world |
| Reference Group | one or more persons an individual uses as a basis for comparison regarding beliefs, feelings, and behaviours |
| Involvement | consumer’s degree of interest or concern in the product |
| Extended Problem Solving | purchase decision process during which the consumer devotes considerable time and effort to analyzing alternatives |
| Limited Problem Solving | occurs during a purchase decision that calls for, at most, a moderate amount of effort and time |
| Habitual Decision Making | purchase decision process in which consumers engage with little conscious effort |
Created by:
hannahentsch