Marketing Ch 5
Cognitive Dissonance (buyer's remorse)
emotional distress consumers feel after making a high involvement purchase decision; occurs when pre-purchase beliefs and actual behavior do not match
heuristic
rule of thumb that leads to making a decision
Confirmation Bias
tendency to recall information that confirms our beliefs
Attention
expenditures of cognitive resources to a stimulus
consideration set
influenced by motivation to think you should consider more in depth
Perception
occurs when stimuli are registered by one of our 5 senses (sight, smell, taste, touch, feel)
Evoked Set Model
outlines how information search process takes place (Brands - Known Brands - Acceptable Brands - Purchased Brand)
less risk = less need for information less product experience = more need for information high level of interest = more need for information
Information search
Internal Situational Social
3 Influences on Consumers
activities, interests, opinion
AIOs
Problem recognition Information search Evaluate alternatives Purchase decision Post purchase evaluation
Consumer Decision-Making Process
marketing message informs/reminds a consumer they want something
External problem recognition
Self-Actualization Ego Needs Belongingness Safety Physiology
Hierarchy of Needs
effective communication follow-ups warranties/guarantees
How can marketers reduce cognitive dissonance?
just noticeable difference (important to determine so that JND can be made apparent to customers)
JND
motivation, ability, opportunity
M.A.O.
the stronger the initial stimulus, the greater the added intensity needed to perceive a difference
Weber's Law
seek info that reinforces positive ideas about purchase avoid info that contradicts purchase decision returning the product
Ways consumers can reduce cognitive dissonance
personal relevancy, pleasant stimuli, surprising stimuli, contrasting stimuli
What aids in keeping your attention?
Consumer Behavior
all of a consumer's decisions with respect to the acquisition, consumption, and disposition of goods, services, time and ideas by decision making units over time
Self-identity
concept of ideal self; influences what products you buy
time poverty
consumer belief that they are more pressed for time than before
Evaluating alternatives
consumers assign weights to different attributes (based on what is important to them) and rank brands
Problem recognition
occurs when a consumer realizes the difference between their present state and their ideal state
Exposure
reflects the process by which the consumer comes into contact with a stimulus