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Need Recognition
The beginning of the consumer decision process; occurs when consumers recognize they have an unsatisfied need and want to go frm their actual needy state to a different desired state TERM 2
functional needs
DEFINITION 2 pertain to the performance of a product or service TERM 3
Psychological needs
DEFINITION 3 pertain to the personal gratification consumers associate with a product or service TERM 4
internal search for
information
DEFINITION 4 occurs when the buyer examines his or her own memory and knowledge about the product or service, gathered through past experiences TERM 5
external search for
information
DEFINITION 5 occurs when the buyer seeks information outside his or her personal knowledge base to help make the buying decision
Internal Locus of Control
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 TERM 7
External Locus of Control
DEFINITION 7 refers to when consumers believe that fate or other external factors control all outcomes TERM 8
Performance Risk
DEFINITION 8 involves the perceived danger inherent in a poorly performing product or service TERM 9
Financial Risk
DEFINITION 9 Risk associated with a monetary outlay; includes the initial cost of the purchase, as well as the costs of using the item or service TERM 10
Social Risk
DEFINITION 10 the fears that consumers suffer when they worry others might not regard their purchases positively
Evaluative Criteria
consist of a set of salient, or important, attributes about a particular product TERM 17
Determinant Attributes
DEFINITION 17 Product or service features that are importatnt to the buyer and on which competing brands or stores are perceived to differ TERM 18
consumer decision rules
DEFINITION 18 The set of criteria that consumers use consciously or subconsciously to quickly and efficiently select from among several alternatives TERM 19
Compensatory Decision Rule
DEFINITION 19 At work when the consumer is evaluating alternatives and trades off one characteristic against another, such that good characteristics compensate for bad ones TERM 20
Multi-Attribute model
DEFINITION 20 a compensatory model of customer decision making based on the notion that customers see a product as a collection of attributes or characteristics.
Noncompensatory Decision Rule
at work when consumers choose a product or service on the basis of a subset of its characteristics, regardless of the values of its other attributes TERM 22
Decision Heuristics
DEFINITION 22 Mental shortcuts that help consumers narrow down choices, examples incl price, brand, and product presentation TERM 23
Conversion Rate
DEFINITION 23 Percentage of consumers who buy a product after viewing it TERM 24
Postpurchase cognitive dissonance
DEFINITION 24 the psychologically uncomfortable state produced by an inconsistency betwwen beliefs and behaviors that in turn evokes a motivation to reduce the dissonance; buyer's remorse TERM 25
Negative Word of Mouth
DEFINITION 25 occurs when consumers spread negative information about a product, service, or store to others
Esteem Needs
needs that enable people to fulfill inner desires TERM 32
Self- Actualization
DEFINITION 32 When a person is completely satisfied with his or her life TERM 33
Attitude
DEFINITION 33 a person's enduring evaluation of his or her feelings about and behavioral tendencies toward an objet or idea TERM 34
Cognitive Component
DEFINITION 34 A component of attitude that reflects what a person believes to be true TERM 35
Affective Component
DEFINITION 35 a component of attitude that reflects what a person feels about the issue at hand-- his or her dislike of something
Behavioral Component
component of attitude that comprises the actions a person takes with regard to the issue at hand TERM 37
Perception
DEFINITION 37 the process by which people select, organize, and interpret information to form a meaningful picture of the world. TERM 38
Learning
DEFINITION 38 Refers to a change in a person's thought process or behavior that arises from experience and takes place throughout the consumer decision process TERM 39
Lifestyle
DEFINITION 39 a component of psychographics; refers to the way a person lives his or her life to achieve goals TERM 40
Reference Group
DEFINITION 40 one or more persons whom an individual uses as a basis for comparison regarding beliefs, feelings and behaviors
Habitual Decision Making
A purchase decision process in which consumers engage with litter conscious effort
