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MKTG 308 - Chapter 5

Terms

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Selective Retention
A process whereby a consumers remembers only that information that supports his or her personal beliefs
Belief
An organized pattern of knowledge that an individual holds as true about his or her world
Internal Stimuli
Occurrences one experiences such as huger or thirst.
Social Factors that Influence Consumer Buying Decisions
The social interactions between a consumer and influential groups of people, such as reference groups, opinion leaders, and family members.
Types of External Information Search
Non marketing controlled information and marketing controlled information
Non-Marketing Controlled Information Source
Source that are not associated with marketers advertising or promoting a product. These include personal experiences, personal sources and public sources.
Conceptual Learning
Learning this is not required through direct experience
External Information Search
Occurs when the person seeks information in the outside environment.
Social Needs
Needs that include love and a sense of belonging
Attitude
A learned tendency to respond consistently toward a given object
Maslow's Hierarchy of Needs
A method of classifying human needs and motivations into five categories in ascending order of importance: physiological, safety, social, esteem and self actualization
Internal Information Search
Occurs when the person recalls information stored in the memory, stemmed largely from previous experience with a product, for example, recalling whether a hotel where you stayed earlier in the year had clean rooms and friendly service.
Lifestyle
A mode of living as identified by a person's activities, interests and opinions
Threshold Level of Perception
The minimum difference in a stimulus that the consumer will notice. Also referred to as "just noticeable difference"
Safety Needs
Needs that include security and freedom from pain and discomfort
Consumer Decision Making Process
A five step process used by consumers when buying goods or services
Involvement
The amount of time and effort a buyer invests in the search, evaluation and decision processes of consumer behavior
Cognitive Dissonance
Inner tension that a consumer experiences after recognizing an inconsistency between behavior and values or opinions
Routine Response Behavior
The type of decision making exhibited by consumers buying frequently purchased, low cost goods and services; required little search and decision time
Personality
Broad concept that can be thought of as a way of organizing and grouping how an individual typically reacts to situations
Limited Decision Making
The type of decision making that requires a moderate amount of time for gathering information and deliberating about an unfamiliar brand in a familiar product category
Selective Distortion
Occurs when consumers change or distort information that conflicts with their feelings or beliefs
Social Class
A group of people in a society who are considered nearly equal in status or community esteem, who regularly socialize among themselves, both formally and informally and who share behavioral norms
Opinion Leader
An individual who influences the opinions of others; often the first to try new products and services out of pure curiosity.
Individual Factors that Influence Consumer Buying Decisions
Factors that include gender, age, family life-cycle stage, personality, self-concept and lifestyle.
Evoked Set or Consideration Set
The consumer's most preferred alternatives. It is a group of brands resulting from an information search, from which a buyer can choose.
Physiological Needs
The need for food, water and shelter, those essential for survival and must be satisfied first.
Perception
The process by which people select, organize and interpret stimuli into a meaningful and coherent picture
Continuum of Buying Decisions
Routine response behavior, limited decision making and extensive decision making
Psychographics
Analytical technique used to examine consumer lifestyles and to categorize consumers
Psychological Factors that Influence Consumer Buying Decisions
Factors that determine how consumers perceive and interact with their environments and influence the ultimate decisions consumers make. These include perception, motivation, learning, beliefs, and attitudes.
Cultural Factors that Influence Consumer Buying Decisions
Culture and Values, Subculture and Social Class
Culture
The set of values, norms, attitudes and other meaningful symbols that shape human behavior and the artifacts, or products of that behavior as they are transmitted from one generation to the next
External Stimuli
Influences from an outside source such as someone's recommendation of a new restaurant, the design of a package or an advertisement on television or radio.
Self Esteem
Needs that include self respect and a sense of accomplishments including prestige, fame and recognition of one's accomplishments.
Reference Group
A group in society that influences an individual's purchasing behavior
Motives
Driving forces that cause a person to take action to satisfy specific needs.
Subculture
Homogenous group of people who share elements of the overall culture as well as cultural elements unique to their own group
Cutoffs
Either minimum or maximum levels of an attribute than an alternative must pass to be considered. For example, if your budget for a new car is $25,000, you will not consider any four wheel drive vehicle beyond that price point.
Five Factors Determining the Level of Consumer Involvement
Previous experience; Interest; Perceived risk of negative consequence; situation and social visibility
Extensive Decision Making
The most complex of consumer decision making, used when buying an unfamiliar, expensive product or infrequently bought item; requires use for several criteria for evaluating options and much time for seeking information
Learning
A process that creates changes in behavior, immediate or expected through experience and practice
Self Concept or Self Perception
The manner in which consumers perceive themselves. Includes attitudes, perceptions, beliefs, and self evaluations.
Need Recognition
Occurs when consumers are faced with an imbalance between actual and desired states. It is triggered when a consumer is exposed to either an internal or external stimuli.
Steps in the consumer decision making process
Need recognition; information search; evaluation of alternatives; purchase and post purchase behavior
Consumer Behavior
Term that describes how consumers make purchase decisions and how they use and dispose of the purchased goods or services. Also includes an analysis of factors that influence purchase decisions and product use.
Selective Exposure
The process whereby a consumer notices certain stimuli and ignores others
Marketing Controlled Information Source
Source that is biased toward a specific product, because it originates with marketers promoting that product. Includes mass media advertising, sales promotion, salespeople, product labels and packaging and the Internet.
Want
State that exists when someone has an unfulfilled need and has determined that a particular god or service will satisfy it.
Self Actualization
Needs that refer to finding self fulfillment and self expression
Value
The enduring belief that a specific mode of conduct is personally or socially preferable to another mode of conduct. The most defining element of culture
Experiential Learning
Learning that occurs when an experience changes behavior
Stimuli
Any unit of input affecting one or more of the five senses: sight, smell, taste, touch and hearing.
Socialization Process
The passing down of cultural values and norms to children

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