MKT EXAM 2 UKY
Steps in the consumer decision making process
1. need recognition 2. information search 3. evaluation of alternatives 4. purchase 5. post-purchase evaluation
Maximizers
individuals who attempt to evaluate every option for every choice until they find the perfect fit
Businesses are able to encourage need recognition by:
Changing consumers' desired states Changing consumers' perceptions of their actual states Reminding consumers of their needs
heuristics
Mental shortcuts or "rules of thumb" that often lead to a solution
non-compensatory strategy?
One that eliminates alternatives that do not meet certain criterion
evoked set
alternatives a consumer knows about / considers
When using the ________ rule of decision making, a consumer evaluates brands on the most important attribute, but specific cutoffs are imposed.
conjunctive
The alternatives actively measured during a consumer's choice process are the ________ set
evoked
The danger of exceeding consumers' cognitive capacity is that they will
experience information overload
Collecting information from peers, family, and the marketplace is known as
external search
Searching inside magazine and within websites are good examples of internal search
false
Steps in the buyer decision process are never skipped.
false
According to this view, people calmly and carefully integrate as much information as possible with what they already know about a product, painstakingly weigh the pluses and minuses of each alternative, and arrive at a satisfactory decision
information processing perspective
the process by which the consumer surveys the environment for appropriate data to make a reasonable decision
information search
Retrieving knowledge from memory is known as
internal search
Jonesy will buy only the lowest-priced spark plug when he goes shopping for auto supplies. Because his car is very old, he really doesn't care about any other qualities. Jonesy is using the conjunctive decision rule.
non compensatory decision rule
conjunctive rule
non compensatory decision rule where the option selected must surpass a minimum cutoff across all relevant attributes
Chen Lo uses a decision rule that says "Only buy well-known brand names" when selecting a set of golf clubs. He does not look at price, the store, or even discounts when purchasing clubs. Chen Lo's purchasing pattern is an example of a consumer using a
noncompensatory rule
problem recognition
occurs whenever the consumer sees a significant difference between the current state of affairs and some desired or ideal state
prospect theory
people choose to take on risk when evaluating potential losses and avoid risks when evaluating potential gains
The final stage in the Consumer Decision Making model is
post-purchase evaluation
Shortcuts are considered heuristics, or "mental rules-of-thumb" in decision making.
true
· The evaluation of alternatives is the third stage of the consumer decision-making process.
true
