Term
| The consumer Decision Process |
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Definition
| need Recognition > Information Search > Alternative evaluation > Purchase > post-purchase |
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Term
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Definition
| 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 stare. |
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| pertain to the performance of a product or service. ( slippers ) |
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| pertain to the personal gratification consumers associate with a product or service ( high heels ) |
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Term
| Internal search for information |
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Definition
| occurs when the buyer examines his or her own memory and knowledge about the product or service, gathered through past experiences |
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| external search for information |
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Definition
| occurs when the buyer seeks information outside his or her personal knowledge base to help make the buying decision. |
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| internal locus of control |
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Definition
| refers to when consumers believe they have some control over the outcomes of their actions, in which case they generally engage in more search activities. |
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| external locus of control |
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Definition
| refers to when consumers believe that fate or other external factors all outcomes. |
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| involves the perceived danger inherent in a poorly performing product or service ( clothes shrinking ) |
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| risk associated with a monetary outlay; includes the initial cost of the purchase , as well we the costs of using the item or service ( pay for dry cleaning ) |
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| The fears the consumers suffer when they worry others might not regard their purchase positively ( will friends think it's stylish ) |
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| physiological risk aka safety risk |
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| the fear of an actual harm should a product not perform properly ( will car crash ) |
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| associated with the way people will feel if the product or service does not convey the right image ( how you feel about the product ) |
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| includes all possible choices for a product category ( all cookie brands) |
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| includes those brands or stores that the consumer can readily bring forth from memory ( cookie brand you know) |
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| comprises the alternative brands or stores that the consumer states he or she would consider when making a purchase decision |
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| consist of a set of salient, or important, attributes about a particular product. (fit, material, price ) |
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| product or service features that are import to the buyer and on which competing brands or stores are perceived to differ. ( health or nutrition claims ) |
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| the set of criteria that consumers use consciously or subconsciously to quickly and efficiently select from amount several alternatives ( compensatory, or non) |
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| compensatory decision rule |
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Definition
| At work when the consumer is evaluating alternatives and trades off one characteristic against another, such that good characteristics compensate for bad ones (cereal; taste or healthy ) |
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Definition
| cereal chart!! decision making model based on consumers attributes about a product |
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| non compensatory decision rule |
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Definition
| consumer chooses product based off one characteristic ( cereal is cheaper ) |
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Term
| post-purchase cognitive dissonance |
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Definition
| psychologically uncomfortable state produced by an inconsistency between beliefs and behaviors that in turn evokes a motivation to reduce the dissonance; buyers remorse |
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| occurs when consumers spread negative information about a product, service, or store to others |
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| a need or want that is strong enough to cause the person to seek satisfaction |
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Term
| Maslows Hierarchy of Needs |
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Definition
| Physiological(food) > Safety(secure employment) > Love(family) > Esteem (confidence) > Self Actualization (personal growth) |
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Term
| Factors that affect the consumer decision process: |
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Definition
| Marketing Mix, Psychological factors(attitude, motives,learning,lifestyle), Social Factors, Situational Factors (purchase, shopping situation) |
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| Components of post purchase outcomes |
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Definition
- customers satisfaction
- customer loyalty
- post purchase dissonance |
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Definition
| a component of attitude that reflects what a person believes to be true. |
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| a persons enduring evaluation of his or her feelings about and behavioral tendencies toward an object or idea; consists of three components: cognitive, affective, behavioral |
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| a component of attitude that reflects what a person feels about the issue at hand, his or her like or dislike of something |
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| a component of attitude that comprises the actions a person takes with regard to the issue at hand |
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| the process by which people select, organize, and interpret information to form a meaningful picture of the world. |
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| refers to a change in a persons thought process or behavior that arises from experience and takes place throughout the consumer decision process. |
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| A component of psychographics, refers to the way a person lives his or her life to achieve goals |
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| one or more persons whom an individual uses as a basis for comparison regrading beliefs, feelings, and behaviors. |
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| the set of values , guiding beliefs, understandings, and ways of doing things shared by members of a society |
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| factors affecting the consumer decision process; those that are specific to the situation that may override , or at least influence, psychological and social issues. |
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| effects in the shopping situations.. |
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Definition
- store atmosphere
- salespeople
- crowding
- in-store demonstration
- promotions
- packaging |
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| consumers degree on interest in the product or service |
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| a purchase decision pro cross during which the consumer devotes considerable time and effort to analyzing alternatives, often occurs when the consumer perceives that the purchase decision entails a lot of risk. |
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| occurs during a purchase decision that calls for, at most, a moderate amount of effort and time. |
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| a buying decision made by customers on the spot when they see the merchandise. |
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| a purchase decision process in which consumers engage with little conscious effort. |
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| the process of buying and selling goods or services to be used in the production of other goods and services, for consumption by the buying organization, or for resale by wholesalers and retailers |
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| the linkage between consumers demand for a company output and its purchase of necessary inputs to manufacture or assemble that particular output. |
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-Manufacturers/ Service Providers
-Resellers
-Institutions
-Government |
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| Manufacturers and Service |
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Definition
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| marketing intermediary that results manufactured products without significantly altering their form |
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| firm engaged in buying, taking title to, often storing, and physically handling goods in large quantities, then reselling the goods(usually in smaller quantities) to retailers or industrial or business users. |
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| A type of reseller or marketing intermediary that resells manufactured products without significantly altering their form. Distributors often buy from manufacturers and sell to other businesses like retailers in a B2B transaction. |
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Term
| business to business buying process |
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Definition
| need recognition > product specification > RFP process > proposal analysis > order specification > Vendor performance assessment using metrics |
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| an internet site whose purpose is to be a major starting point for users when they connect to the web |
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| request for proposals (RFP) |
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Definition
| a process through which buying organizations invite alternative suppliers to bid on supplying their required components |
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| the group of people typically responsible for the buying decisions in large organizations |
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| the buying center participant who first suggests buying the particular product of service |
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| the buying center participants whose views influence other members of the buying center in making the final decision |
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| the buying center participants who ultimately determines any part of of the entire buying decision- whether to buy, what to buy, how to buy, or where to buy. |
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| the buying center participant who handles the paperwork of the actual purchase |
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| the person who consumes or uses the product or service purchased by the buying center |
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| the buying center participant who controls information or access to decision makers and influencers |
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| reflects the set of values, traditions, and customs that guide a firms employees behavior |
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| a groups refusal to deal commercially with some organization to protest against it's policies |
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- Democratic
- Autocratic
- Consensus
- Consultative |
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| a buying center in which one person makes the decision alone, though there may be multiple participants |
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| a buying center in which the majority rules in making decisions |
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Term
| consultative buying center |
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Definition
| a buying center in which one person makes the decision but he or she solicits input from others before doing so |
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Definition
| a buying center in which all members of the team must reach a collective agreement that they can support a particular purchase |
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| promotional technique used by b2b sellers to provide information about a product or service in an educational context. |
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Term
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Definition
straight rebuy
new buy
modified buy |
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Definition
| marketing activités that draw the attention of customers through blogs , twitter, etc. rather than using more traditional activities ( sales calls) |
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