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Chapt 8 Consumer Behavior Buying, Having, Being Exam | Comprehensive Questions and Answers Latest Updated 2024/2025 With 100% Verified Solutions Cosumer purchase is - a response to a problem Purchasing steps - 1. problem recognition 2. information search 3. evaluation of alternatives 4. product choice 5. outcomes 3 steps - how we recognize the problem, how we search for info, how we evaluate alternatives biggest problem consumers face - having too many choices consumer hyperchoice - large numer of options forces us to make repeated choices..drains energy and saps ability to make smart decision rational perspective - used to understand decision making by calmly and carefully integrating as much information as possible with what we already know about a product, weighed the plus/minuses of each alternative, and make a satisfactory decision. economics of information approach - collec just enough data to make informed decision purchase momentum - occurs when our initial impulse purchases actually increase the likelihood that we will buy even more cognitive processing style - a predisposiosion to process information. Some of us tend to have a rational system of cognition that processes informtion analytically and sequentially using roles of logic, while others rely on an experiential system of cognition that that processes information more hollistically and in parallel constructive processing - evaluate the effort to make a choice and then choose the strategy best suited to the level of effort required behaviorial influence perspective - ex. attention grabbing packages/selling the sizzle not the steak
experiential perspective - Assumes that consumers often make purchases and reach decisions based on the affect or feeling attached to the product or behavior under consideration extended problem solving - high risk and involvement, extensive search, multiple sources consulted,strongly held beliefs limited problem solving - use simple decision rules, low risk, little search, weakly held beliefs habitual decision making - Choices we make with little to no conscious effort problem recogniton - experience significant difference between current state of affairs and some state we desire need recognition/actual state - 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. opportunity recogniton/ideal state - deciding to upgrade one's computer because of a great deal and the store takes trade ins information search - process w survey environment for appropriate data to make decision maximizing vs satisficing - decision strategy that seeks to deliver best possilbe results vs one that yields an adequate solution internal serch - scanning memory banks to assemble information to assist a purchase decision maximizing consumer vs satisfier consumer - high involvement consumer vs low involvment bounded rationality - describes making decisions within the constraints of limited information and alternatives...settling for just good enough
evoked set - a group of brands, resulting from an information search, from which a buyer can choose...the alternatives consideration set - brands actually considering knowlege structure - a set of beliefs and the way we organize these beliefs in our minds evaluative criteria - dimensions we use to judge the merits of competing options determinant attributes - The attributes actually used to differentiate among choices..how the choices differ neuromarketing - uses fMRI to measure consumers reactions cybermediary - intermediary that helps filter and organize online market for info in your search so you can identify and evaluate alternatives more efficiently intelligent agents - software programs taht use collaborative filtering to recommend new purchases electronic recommendation agent - software that tries to understand human decions on a product by asking the user to give their PREFERENCES Heuristics - rules of thumb that help in simplifying and solving problems, although they do not guarantee a correct solution...help to make a speedy decision product signal - a visible element communicates some underlying qualtiy (old car but good body) covariation - perceived associations among events that may or may not influence one another...product quality based on length of time manufacturer has been in business
market beliefs - assumptions about companies, products, and stores that become shortcuts that guide their decisions-- whether or not they are accurate such as brand, store, prices, sales promotions ethnocentrism - tendency to prefer products or people of one's own culture to those of another country ...feel might have negative effect on domestic econony if buy products elsewhere CETSCALE - MEASURES CONSUMER ETHNOCENTRICITY; INVERSELY RELATED TO CONSUMER WILLINGNESS TO BUY IMPORTED GOODS, PERCEPTIONS OF QUALITY OF SUCH GOODS, CULTURAL OPENNESS, measures effect of buying American Zipf's Law - our tendency to prefer a number one brand to the competition Inertia - we buy a brand out of habit because it requires less effort..no brand loyalty brand loyalty - repeat purchasing behavior that reflects a conscious decision to continue buying the same brand..has strong positive attitude compensatory decision rules - give a product a chance to make up for its shortcomings, consumers tend to be more involved in the purchase noncompensatory decision rules - decision shortcuts a consumer makes when a product with a low standing on one attribute cannot make up for this position by being better on another attribute. Lexicographic rule - Noncompensatory decision rule where the option selected is thought to perform best on the most important attribute eliminatioin by aspects rule - evaluation of brands on the most important attribute and imposes sepcific aspects conjunction rule - processing by brand simple additive rule - when consumer chooses the alternative that has the largest number of positive...a compensatory rule
